Golar LNG Partners to Buy FSRU Golar Tundra for USD 330 Mln

Golar LNG Partners LP has entered into an agreement with Golar LNG Limited to buy its 170,000 cbm floating storage and regasification unit (FSRU) Golar Tundra.

The FSRU, built by South Korean Samsung Heavy Industries, will be sold for a price tag of USD 330 million, minus a net lease amount of approximately USD 230 million, which is a part of the vessel’s bank financing.

Golar LNG expects to close the sale in March 2016.

“The sale of the Golar Tundra will strengthen Golar’s liquidity by approximately USD 130 million. The sale has been arranged in accordance with the Omnibus Agreement which regulates Golar’s obligation to offer any vessel on charter for more than five years to the Partnership,” Golar LNG Limited said.

Delivered to the company in November 2015, the FSRU was hired on a time charter by West Africa Gas Limited for an initial term of five years, with an option for WAGL to extend the charter for an additional five years.

The FSRU will be moored inside the port of Tema, on the coast of Ghana West Africa, at a new jetty being built by WAGL.

The Golar Tundra is expected to commence operations in the second quarter of 2016.

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