Golar LNG

Sale of Golar Igloo to Golar LNG Partners LP

Golar LNG Limited (the "Company") announced today that it 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 ("Igloo") to Golar LNG Partners L.P. ("Golar Partners") for a price of USD310 million. The transaction is subject to the satisfaction of certain closing conditions.

Net proceeds received from the sale will be applied against the remaining interim instalments of the Company's newbuild program and create liquidity which can be used as part equity in a potential ordering of a FLNG vessel.

This transaction is further testament to a corporate structure that has now fully funded the equity component of the Company's current newbuilding program whilst simultaneously providing for the growth of Golar Partners.

Hamilton, Bermuda
December 5, 2013
Enquiries: Golar Management Limited: + 44 207 063 7900
Brian Tienzo
Stuart Buchanan

 

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Golar LNG via Globenewswire

HUG#1748213