Flex LNG Signs Two-Year Charter Agreement for LNG Carrier Flex Aurora
Flex LNG announces a minimum two-year time charter agreement for the Flex Aurora LNG carrier, with extension options potentially bringing the total contract length to eight years.
| Sectors | Gas, Natural Gas, LNG |
|---|---|
| Themes | Investments & Transactions, Contracts |
| Companies | Flex LNG Ltd., Flex LNG Management AS |
| Countries | Bermuda |
Flex LNG announces the signing of a new Time Charter Agreement (TC) for the Flex Aurora, a 174,000 cubic meter LNG carrier built in 2020 with X-DF two-stroke propulsion. The minimum firm period is two years, with a charterer described as a "Supermajor" holding extension options of 2+2+2 additional years, potentially bringing the total contract length to eight years. If all options are declared, the vessel would be committed until 2034. The Flex Aurora was redelivered from its previous charterer in the first half of March 2026, at the end of a 3.5-year charter. Amid sustained activity in the gas sector, TotalEnergies recently launched production at the Quiluma offshore gas field in Angola.
Contract Backlog Rises to a Minimum of 55 Years
Following this announcement, Flex LNG's total contract backlog reaches a minimum of 55 years, according to the company. This figure could rise to 82 years if all charterers exercise their options. With this new contract, the company now has two vessels trading in the LNG (liquefied natural gas) spot market. Other transactions have recently marked the sector, such as EDF's sale of the Norte Fluminense gas plant to Âmbar Energia for 230 million euros.
The new contract is expected to contribute positively to second-quarter 2026 earnings, according to Flex LNG. The company notes, however, that its full-year guidance, as presented during the fourth-quarter 2025 earnings release, may be subject to revision. Persistent volatility in LNG shipping markets and broader energy markets justifies this caution, the group says, adding that it is closely monitoring market developments.
Marius Foss Points to Firm Spot Market Dynamics
Marius Foss, CEO of Flex LNG Management AS, states that this new contract capitalizes on "the firm momentum in the freight market." He describes current LNG spot shipping dynamics as "favourable," while warning that energy markets "remain highly volatile" and that conditions can change rapidly. The two-year minimum term reflects, according to him, "continued recognition of our safe and reliable operations."
