Hilli-Episeyo Vessel Reviews and Specifications

On July 12, 2018, Golar LNG Partners LP announced the successful completion of its acquisition of 50% of the common units in Golar Hilli LLC, the entity that indirectly controls the FLNG Hilli Episeyo. This announcement follows Golar's prior communication on August 16, 2017, regarding the impending acquisition. The newly acquired stake in Hilli LLC corresponds to 50% of two of the four liquefaction trains contracted to Perenco Cameroon SA and Société Nationale Des Hydrocarbures. These contracts are part of a Liquefaction Tolling Agreement (LTA) lasting eight years. Additionally, Golar LNG Partners has secured a 5% interest in any future revenues from the uncontracted expansion capacity of Hilli Episeyo. Notably, this interest is insulated from the fluctuations in oil-linked pricing elements associated with the tolling fee as stipulated in the LTA.

In a significant development for the maritime industry, Golar LNG Limited (NASDAQ: GLNG) has announced the execution of a purchase and sale agreement involving its floating liquefied natural gas (FLNG) unit, Hilli Episeyo. This agreement was made in collaboration with affiliates of Keppel Shipyard Limited and Black and Veatch (B&V). According to the details shared on the agreement, Golar LNG Partners L.P. will acquire equity interests in Golar Hilli LLC, positioning them as the indirect owner of the Hilli Episeyo upon the completion of the sale. The interests being acquired encompass 50% of the two operational liquefaction trains, which form part of four total trains contracted for a duration of eight years with Perenco Cameroon SA and Societe Nationale Des Hydrocarbures, collectively referred to as the Customer. This strategic move signals Golar's commitment to restructuring its asset portfolio and enhancing its operational capabilities within the LNG sector.

Golar LNG Limited has successfully secured a significant underwritten financing commitment for its inaugural GoFLNG project, the GoFLNG Hilli. This funding agreement, established with CSSC (Hong Kong) Shipping Co. Ltd (CSSCL), will facilitate a conversion financing and a sale and leaseback transaction for the innovative floating liquefied natural gas facility. This milestone represents a key step in advancing Golar LNG’s ambitions in the GoFLNG sector, further solidifying its position in the maritime industry.