Tor Olav Trøim-backed Golar LNG has agreed to take over New Fortress Energy’s ownership stake in the floating liquefied natural gas (FLNG) facility operating offshore Cameroon.
Golar is paying $100m in cash for the 2017-converted FLNG Hilli and returning 4.1m shares it holds in Wes Edens’ Nasdaq-listed LNG player.
The deal, which is expected to close in the first quarter, will also see New Fortress extinguish $323m in debt obligations associated with its interest in the FLNG unit.
The vessel has been operating for Perenco and Cameroon’s national oil firm Société Nationale des Hydrocarbures since 2018 under a contract set to expire in July 2026.
