Golar LNG Limited announces that the FSRU LNG Croatia (formerly known as the Golar Viking) has been accepted by its customer LNG Hrvatska d.o.o. (“LNG Hrvatska”), and that the sale of the FSRU has been completed.
The sale will release approximately $47 million of free cash to Golar between Q4 2020 and Q1 2021 after repayment of the vessel debt facility and settlement of remaining conversion and commissioning costs. Golar will now operate and maintain the LNG Croatia for a minimum period of 10 years under contract to LNG Hrvatska.
About Golar LNG Ltd.
Golar LNG Limited (NASDAQ: GLNG) is one of the world's largest independent owners and operators of LNG carriers with over 40 years of LNG industry experience. Golar LNG together with Golar Partners own and manage a fleet of 26 LNG Carriers and FSRUs. Golar's innovation delivered the world's first Floating Storage and Regasification Units (FSRU) based on the conversion of existing LNG carriers. Golar's latest strategic move is to extend its business model further upstream by deploying its floating liquefaction technology (GoFLNG). The objective is to become the industry's leading integrated midstream LNG services provider, supporting resource owners, gas producers and gas consumers.