Golar LNG Partners LP: Nusantara Regas Satu Acquisition
(Thomson Reuters ONE) -
Golar LNG Partners LP (NASDAQ: GMLP) (the "Partnership") announced today that it
has entered into an agreement to acquire the ownership interests in the
companies that own and operate the floating storage and regasification unit
("FSRU") the Nusantara Regas Satu (formerly known as Khannur) ("NR Satu") from
Golar LNG Limited ("Golar LNG") for a purchase price of $385 million. The
acquisition is subject to the satisfaction of certain closing conditions.
The NR Satu is the first FSRU conversion in the Far East and will commence its
charter with PT Nusantara Regas ("PTNR") upon its final acceptance by PTNR. The
vessel is now fully operational, receiving charter hire and is undergoing its
commissioning and final acceptance procedures. The charter has an initial term
that expires on December 31, 2022. PTNR has the right to extend the charter term
for up to an additional three years.
The Partnership estimates that the acquisition will generate approximate annual
net cash from operations, before the deduction of interest cost, between $42
million and $44 million. The Board of Directors of the Partnership (the "Board")
and the Conflicts Committee of the Board (the "Conflicts Committee") have
approved the purchase price. The Conflicts Committee retained a financial
advisor, DNB Markets, to assist with its evaluation of the acquisition.
The Board is pleased that the Partnership has entered into this purchase
agreement with respect to its second acquisition since the Partnership's initial
public offering in April 2011. As with the Partnership's acquisition of the
Golar Freeze, this acquisition is expected to be an accretive transaction and is
consistent with the Partnership's growth strategy. The Board believes that the
fundamental outlook for the LNG industry remains strong. The Partnership's
parent, Golar LNG, is expected to reinvest the major part of the net proceeds
received from the sale in new LNG carriers and FSRU's. The Board is therefore
positive about the Partnership's future growth prospects.
FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements concerning future
events and the Partnership's operations, performance and financial condition.
Forward-looking statements include, without limitation, any statement that may
predict, forecast, indicate or imply future results, performance or
achievements, and may contain the words "believe", "anticipate", "expect",
"estimate", "project", "will be", "will continue", "will likely result", "plan",
"intend" or words or phrases of similar meanings. These statements involve known
and unknown risks and are based upon a number of assumptions and estimates that
are inherently subject to significant uncertainties and contingencies, many of
which are beyond the Partnership's control. Actual results may differ materially
from those expressed or implied by such forward-looking statements. Important
factors that could cause actual results to differ materially include, but are
not limited to:
· statements regarding the annual net cash from operations
that may be generated by NR Satu;
· statements about the Partnership's ability to increase
distributions to unitholders and the amount of any such increase;
· the Partnership's anticipated growth strategies;
· the Partnership's future revenues, expenses, financial
condition and results of operations;
· the repayment or refinancing of debt;
· the Partnership's ability to make additional borrowings and
to access debt and equity markets;
· charter termination dates and extensions of charters;
· the Partnership's business strategy and other plans and
objectives for future operations; and
· other factors listed from time to time in the reports and
other documents the Partnership files with the United States Securities and
Exchange Commission, including its 2011 Annual Report on Form 20-F and Form 6-K
for the period ended March 31, 2012.
New factors emerge from time to time, and it is not possible for the Partnership
to predict all of these factors. Further, the Partnership cannot assess the
impact of each such factor on its business or the extent to which any factor, or
combination of factors, may cause actual results to be materially different from
those contained in any forward-looking statement. The Partnership does not
intend to release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Partnership's
expectations with respect thereto or any change in events, conditions or
circumstances on which any such statement is based.
Hamilton, Bermuda
July 9, 2012
Investor relations enquiries:
Golar Management Limited
Graham Robjohns - +44 207 824 5530 / +44 207 063 7900
Stuart Buchanan - + 44 207 063 7900
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Golar LNG Partners L.P. via Thomson Reuters ONE
[HUG#1625262]
Datum: 09.07.2012 - 15:20 Uhr
Sprache: Deutsch
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