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Sembmarine takes 12% stake in Norway firm

Startup GraviFloat designs, operates floating terminals

SEMBCORP Marine is dipping its toes into the floating LNG/LPG terminals business, taking a 12 per cent stake costing US$4 million in a Norwegian startup, GraviFloat AS, which plans to carry out design and development and project management of such near-shore, floating terminals.

Announcing the investment, which marks a new business venture for the group, Sembmarine said yesterday that GraviFloat designs, delivers and operates re-deployable, gravity-based, modularised liquefied natural gas (LNG) and...

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