Bahrain LNG WLL is a newly formed company for the development of a Liquefied Natural Gas (LNG) receiving and regasification terminal within the Khalifa bin Salman Port facility, in Hidd, Bahrain. The company is owned 30% by The Oil & Gas Holding Company of Bahrain (nogaholding), 30% by Teekay LNG Partners, 16% by Samsung C&T and 24% by the Gulf Investment Corporation (GIC).
This LNG import terminal will form a vital part of the energy infrastructure of Bahrain – it will give the country security of supply that it needs to meet its growth in demand for natural gas to fuel large industrial projects, to generate power and water and for enhanced oil recovery.
Bahrain LNG import terminal will provide Bahrain with both an insurance policy in case of potential shortages of gas and the ability to supplement domestic gas supplies with gas from LNG. Bahrain LNG W.L.L. has been granted a 20 year concession to operate the terminal for the National Oil and Gas Authority of Bahrain (NOGA) and the facility is designed for 40 years of continuous natural gas delivery operations.
The Bahrain LNG Import Terminal is being constructed under a $670m EPC Contract (Engineering, Procurement, Construction) that has been let to GS Engineering and Construction Corporation of Korea and is funded by 27% shareholder Equity and 83% loans granted under commercial facilities and the Korean Export Bank (KSURE) covered facilities for an end-to-end tenor of 20 years, including the 27 month construction period. The Terminal is scheduled to be completed and supplying natural gas to the Bahrain network in the first quarter of 2019.
To undertake the construction and commissioning of the Bahrain LNG Import Terminal, in order to achieve a high reliability and environmentally beneficial LNG receiving, storage and regasification facility, for delivery of natural gas to its customer commencing 2019 and sustain this performance through the life of the project, whilst adhering to our core values.
To be the most reliable, as well as a socially and environmentally safe source, of clean energy to the Kingdom of Bahrain. This to be achieved through the construction, commissioning and operation of the Bahrain LNG Import Terminal, in a safe, efficient, economically profitable manner. We will provide a clean energy receiving and storage source to Bahrain, whilst limiting the social and environmental impact of its activities to international best practice standards level.
Bahrain LNG is committed to our core values in all aspects of managing our business
- Public Safety – We will at all times ensure the highest standards of Asset Management are practiced in our design, construction, operations and maintenance, to ensure there is the minimum risk to public safety from the activities of Bahrain LNG and its suppliers.
- Integrity – We will at all times ensure the highest standards of integrity are practiced by our people and our suppliers, to earn the trust of our community, Bahrain Authorities and our International partners. We will deliver what we commit to do and will ensure the quality of our delivery exceeds expectations wherever achievable within our remit.
- Social Responsibility – We will at all times ensure the highest standards of management are applied to our people, suppliers, neighbours and customers, to ensure the maximum benefit of clean natural gas fuel supplies is delivered to Bahrain, with the lowest achievable Social and Environmental impact to our community.
- Efficiency – We will at all times ensure the highest standards of operational practice are utilized, to provide a trusted and reliable source of clean energy to Bahrain at the most economical cost to our customers
- Reliability -We will at all times ensure we provide reliable services to our customer under all conditions and circumstances