IM Skaugen inks $420m in multigas charters

IM Skaugen has signed long-term contracts that will employ three multigas carriers in a small-scale LNG project.

The Oslo-listed gas carrier owner said the contract will generate $42m per year, or about $420m over the 10-year term.

The time-charter deal will employ two 10,000-cbm multigas carriers and one 12,000-cbm vessel.

Skaugen did not disclose the name of its counterparty, but TradeWinds reported last week that the company's Norgas arm was in talks with Endeavor Energy for a contract to serve the Ghana 1000 power project at Aboadze.