Golar LNG to sell interests in Golar LNG Partners

Golar LNG Limited is offering 7 170 000 common units, representing limited partner interests in Golar LNG Partners LP as a selling unitholder in the public offering announced on 8 January.

Golar intends to use the net proceeds of the offering to fund a portion of the recently announced contract with Keppel Shipyard to convert one of its first generation LNG carriers, Gimi, into a floating natural gas liquefaction facility (GoFLNG).

These proceeds will be in addition to the net proceeds expected to be received over the next two years from the recently announced US$390 million sale of the Golar Eskimo to Golar Partners when Golar Partners refinances the US$220 million loan from Golar to be made in connection with the closing of the acquisition.

The sale of 7 170 000 common units gives Golar the flexibility to issue Keppel with a notice to proceed with the conversion of the Gimi while finalising the long-term contract and financing for the first GoFLNG unit.

Adapted from press release by Katie Woodward

Read the article online at: https://www.lngindustry.com/floating-lng/09012015/golar-sells-interests-in-golar-lng-partners-24/