Golar LNG Ltd has entered into an agreement to sell its ownership interest in the company that will own and operate the floating storage and regasification unit (FSRU) Golar Igloo to Golar LNG Partners L.P. for US$ 310 million.
The transaction is subject to the satisfaction of certain closing conditions.
Potential FLNG vessel?
Net proceeds received from the sale will be applied against the remaining interim installments of Golar LNG Ltd’s newbuild programme and create liquidity that can be used as part equity in a potential ordering of a floating LNG (FLNG) vessel.
This transaction is testament to a corporate structure that has fully funded the equity component of the Golar LNG Ltd’s current newbuilding programme whilst simultaneously providing for the growth of Golar Partners.
Adapted from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/06122013/golar_lng_partners_buys_golar_igloo_fsru_543/