Golar LNG Takes Full Ownership of FLNG Hilli

MT Newswires Live2024-12-24

Golar LNG (GLNG) said Tuesday it acquired all outstanding minority interests in the FLNG Hilli from Seatrium and Black & Veatch for a total of $90.2 million, taking full ownership of the liquefied natural gas vessel.

The total consideration comprises $59.9 million in equity and $30.3 million of a pro-rata share in the existing FLNG Hilli debt facility, Golar said.

Golar said it acquired 5.45% common units, 10.9% series A shares and 10.9% series B shares. The increased ownership will be effective from Jan. 1, the company added.

Additionally, Golar said it paid Seatrium $7 million for a Hilli Train 3 utilization bonus and settlement of historical work related to the Golar Gandria, a former Golar-owned LNG carrier. There are no outstanding contractual arrangements on existing assets between the two companies after the settlement.

Golar's stock was down 3.2% in recent Tuesday premarket activity.

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