Golar LNG Partners adds West Java FSRU asset

Continuing with its strategy of divesting long-term assets to its Golar LNG Partners unit, Golar LNG has sold the floating storage and regasification unit FSRU Nusantara Regas Satu (ex-Khannur) for $385m, subject to the satisfaction of certain closing conditions, Seatrade Asia online reports.

The Jurong Shipyard conversion job will commence its 10-year charter with PT Nusantara Regas (PTNR) for Pertamina's West Java LNG project upon  final acceptance by PTNR. The vessel is now fully operational, receiving charter hire and is undergoing commissioning and final acceptance procedures. Initial terms are for the contract to end on 31 December 2022 with a three-year extension option.

Golar LNG Partners estimates the acquisition will generate approximate annual net cash from operations, before the deduction of interest cost, between $42m and $44m.