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Friday, September 21, 2018

Golar LNG Partners Completes Sale of Golar Hilli

Maritime Activity Reports, Inc.

July 13, 2018

Image: Golar LNG

Image: Golar LNG

 Golar LNG Partners have completed the acquisition of 50 percent equity in FLNG Hilli Episeyo located offshore Kribi in Cameroon, from Golar LNG, Keppel and Black and Veatch.

 
"Further to our  announcement on August 16, 2017, that it has completed the acquisition of 50% of the common units in Golar Hilli, the indirect owner of the FLNG Hilli Episeyo," said a press release from the company.
 
The acquired interest in Hilli LLC represents the equivalent of 50% of the two liquefaction trains, out of a total of four that have been contracted to Perenco Cameroon SA and Société Nationale Des Hydrocarbures pursuant to a Liquefaction Tolling Agreement (LTA) with an 8 year term, as well as a 5% interest in any future distributions generated by the currently uncontracted expansion capacity of Hilli Episeyo. 
 
The acquired interest will not be exposed to the oil linked pricing elements of the tolling fee under the LTA.
 
This acquisition should strengthen the Partnership's financial position and provide strong support to its distribution going forward.  
 
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