22/03/2023
Golar LNG wraps up New Fortress FLNG deal.
Tor Olav Trøim-backed Golar LNG has completed the buyout deal with New Fortress Energy for the floating liquefied natural gas facility operating offshore Cameroon.
The deal closed with Golar paying $100m in cash for the 2017-converted FLNG Hilli, returning 4.1m shares it held in Wes Edens’ Nasdaq-listed LNG player and taking over $323m in debt obligations associated with the FLNG unit.
The vessel has been operating for Perenco and Cameroon’s national oil firm Société Nationale des Hydrocarbures since 2018 under a contract set to expire in July 2026.
Golar LNG recently sold out of its LNG shipowner spin-off Cool Company banking around $154m. (March 15, 2023)
CAMEROON - LNG - SUPPLIES - IMPORTS - EXPORTS