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BSM and Dreifa Energy sign Operational Partner Agreement

BSM and Dreifa Energy sign Operational Partner Agreement

We are pleased to inform that BSM and Dreifa Energy Limited (Dreifa) have signed an Operational Partner Agreement. The companies will work closely to materialise the Dreifa floating LNG regasification solution and ensure reliable and cost-efficient access to energy for new and existing LNG consumers worldwide.

BSM and Dreifa will cooperate through the different phases of the project, allowing the partnership to create long-term value for our clients. BSM will be actively involved to ensure i) safe and reliable design based on best practices from decades of experience, ii) successful execution of the conversion project and iii) high quality operation of the Dreifa Terminals.

Dreifa is developing a floating regasification terminal for mid-scale LNG import. The terminal concept consists of regasification and related utilities on a suited floating structure (FRU), operating in combination with a standard LNG carrier acting as the floating storage unit (FSU). The company is now in the process of maturing the design to a level required for firming up equipment and construction cost, seeking approvals from classification societies and placing orders for long lead items.

Bernhard Schulte and BSM have owned and managed gas carriers for 45 years, and currently have over 25 LNG carriers in addition to a large managed LPG fleet. Most recently, Bernhard Schulte ordered a 175k cbm “Panamax” LNGC for a long-term charter and last week placed an order for a 7.5k cbm LNG Gas Supply Vessel.

BSM’s extensive in-house experience is underlined by the recent election of the Chief Operating Officer, David Furnival, as President of the Society of Gas Tanker & Terminal Operators (SIGTTO), while his colleague Chris Clucas is President of the Society for Gas as a Marine Fuel (SGMF).

BSM is excited to work with Dreifa and see this as an important step forward. The aim is to have the first Dreifa FRU available for start up in the second half of 2018.