Golar LNG Limited: Jordan FSRU Time Charter Party Execution
(Thomson Reuters ONE) -
Golar LNG Limited ("Golar") is pleased to announce that a firm Floating Storage
and Regasification (FSRU) time charter with the Government of the Hashemite
Kingdom of Jordan, represented by the Ministry of Energy and Mineral Resources
("the Government") has been concluded and was executed on July 31, 2013.
The FSRU Golar Eskimo will be moored at a purpose built structure that is to be
constructed by the Aqaba Development Corporation off the Red Sea port of Aqaba.
Capable of storing 160,000 cubic metres of LNG and delivering up to 500 MMSCFD
with a peaking capacity of 750 MMSCFD, the FSRU will connect to the Jordan Gas
Transmission Pipeline that delivers natural gas to power plants throughout the
Kingdom.
Earnings under the ten year contract are due to commence during the first
quarter of 2015. Annual EBITDA contribution to Golar for the first five years
of the contract will be approximately USD 46 million and approximately USD 43
million per year for the second five year term. The Government has the option
to terminate the time charter after year five, subject to payment of an early
termination fee.
Golar's CEO, Doug Arnell said "We are delighted to have executed this foundation
agreement for the Hashemite Kingdom of Jordan. In so doing, we look forward to
assisting Jordan to ensure security of gas supplies. In line with our omnibus
agreement the vessel will be offered for sale to Golar LNG Partners. Such a
transaction will, if concluded, release significant cash in Golar LNG and
generate growth and increased dividend distribution potential for Golar LNG
Partners. The contract reconfirms Golar's leading position as a provider of FSRU
services."
July 31, 2013
Hamilton, Bermuda.
FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements concerning future
events and Golar'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
Golar's control. Actual results may differ materially from those expressed or
implied by such forward-looking statements.
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 via Thomson Reuters ONE
[HUG#1720525]
Unternehmensinformation / Kurzprofil:
Datum: 01.08.2013 - 13:12 Uhr
Sprache: Deutsch
News-ID 283987
Anzahl Zeichen: 3471
contact information:
Town:
Hamilton
Kategorie:
Business News
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