Golar LNG has acquired New Fortress Energy's (NFE) stake in FLNG Hilli - also known as Hilli Episeyo.
"In return for NFE’s 50% Common Unit holding in Golar Hilli LLC, Golar has transferred its remaining 4.1 million NFE shares to NFE, paid NFE $100 million in cash, and assumed approximately $323 million of FLNG Hilli debt," Golar LNG said.
FLNG Hilli (Hilli Episeyo) is currently located offshore Kribi, Cameroon. Its customers are oil and gas company Perenco and Cameroon’s national oil firm, Société Nationale des Hydrocarbures (SNH).
The vessel, Africa's first FLNG in operation and the world’s first converted FLNG, started operations in 2018. Golar LNG first announced the NFE deal in February when it said it had agreed to acquire New Fortress Energy's (NFE) ownership stake in FLNG Hilli in exchange for Golar's remaining 4.1 million shares in NFE and $100 million in cash.
Golar also said it would take over approximately $323 million in debt obligations linked to Hilli. Under the terms of the deal, Golar said at the time it would acquire the 50% interest in Trains 1 and 2 of FLNG Hilli, at the time owned by a subsidiary of NFE.
Golar has no remaining stake in NFE following the transaction.
The company said in February the transaction would increase Golar's portion of cash flow generation from Hilli's existing contract ending in July 2026.
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