Golar LNG has signed an engineering, procurement and construction (EPC) agreement with Yantai CIMC Raffles Offshore for its fourth floating liquefaction natural gas (FLNG) production vessel, with a total budget of around $2.45 billion. The new vessel, Golar's second to use the MKII design, is planned to provide an annual liquefaction capacity of 3.5 million tonnes (mt) of LNG and is anticipated for delivery by the end of 2029. This addition will increase Golar LNG's total controlled liquefaction capacity by about 40% to over 12 million tonnes per annum (mtpa). Black & Veatch will contribute its PRICO liquefaction technology and engineering services to the project. The company is actively pursuing a long-term charter contract for the unit, with advanced commercial negotiations underway.