Golar LNG Partners said that it has completed its acquisition of the company that owns and operates the FSRU Golar Igloo from Golar LNG Limited for a purchase price of approximately $310 million.
The company financed the purchase price by the assumption of outstanding debt obligations in respect of the Golar Igloo in the sum of $161.3 million with the balance from the cash proceeds of its December 2013 equity offering.
The Golar Igloo was built by Korean shipyard, Samsung Heavy Industries, and was delivered in February 2014. The vessel arrived off Kuwait with a commissioning cargo in March 2014, is currently completing its commissioning procedures and has commenced service under a five-year time charter with Kuwait National Petroleum Company (KNPC), supporting KNPC’s LNG import operations at Mina Al Ahmadi in Kuwait.
Press Release, March 28, 2014; Image: Golar LNG