Gimi FLNG and Croatian FSRU progression

Golar LNG China’s Hudong shipyard will undertake conversion works on the 'Golar Viking'. Golar LNG

Golar LNG subsidiary Gimi MS Corporation has received a US$700m underwritten financing commitment for the FLNG Gimi vessel, to be used in the Greater Tortue Ahmeyim project.

Gimi MS also issued Keppel Shipyard with a final notice to proceed with FLNG Gimi conversion works that were initiated in December 2018.

FLNG Gimi will service the 20-year Tortue contract with BP, due to commence in 2022.

Available during construction, the financing has a tenor of seven years post COD and a 12-year amortisation profile.

Golar LNG CEO Iain Ross commented: "In line with guidance provided in the last quarterly earnings announcement Golar continues to make progress in line with expectations. The Company looks forward to providing further details when it reports its 1Q 2019 results next month.”

Croatian FSRU

LNG Hrvatska, the developers of the Croatian FSRU facility, have also issued Golar with a notice to proceed with the conversion of the 2005-built LNG carrier Golar Viking.

Hudong will undertake conversion works with conversion financing provided by CSSC Leasing.

The vessel will be sold to LNG Hrvatska for US$180.1m and Golar will operate the FSRU for ten years.

Golar has also received agreement from Lenders of the FSRU Golar Tundra to extend the June 2019 maturing facility to June 2021.

Good progress has also been made in refinancing the LNG carrier Golar Arctic facility, due to mature in December 2019.

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