John Fredriksen’s Golar LNG Partners says it has purchased the floating storage and regasification unit (FSRU) Golar Freeze (built 1977) from Nasdaq and Oslo-quoted parent Golar LNG Limited following a $330m transaction.
The acquisition will be bankrolled by a $222m loan backed by its Bermuda-based creator and through the assumption of around $108m of senior bank debt, according to a statement.
Golar Partners says it expects the FSRU to generate $46m in annual revenues over the remaining eight years of a decade-long contract with Dubai Supply Authority.
In a note to investors, the company described the debut acquisition as “the first step in the partnership’s growth strategy.”