Golar LNG Ltd. entered into a purchase agreement to sell the Golar Tundra, a floating storage and regasification unit (FSRU), to Golar LNG Partners for US$330 million.
In connection with the closing, the Golar Partners will receive a daily fee plus operating expenses, aggregating to approximately $2.6 million per month, for Golar's right to use the FSRU from the date of the closing until the date that the Golar Tundra commences operations under its time charter with West Africa Gas. In return, the partnership will remit to Golar any hire income received with respect to the Golar Tundra during this period.
The sale is expected to close in March 2016 and the vessel is expected to commence operations under its time charter with West Africa Gas at the end of Q2 2016.
The sale of the Golar Tundra will strengthen Golar's liquidity by approximately $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.