Golar LNG Partners has signed a 15-year charter with an unnamed energy and logistics company for the provision of an FSRU and related services in the Atlantic Basin.
The charter allows Golar to nominate either the Golar Spirit or Golar Freeze to service the contract and project start-up is expected in the fourth quarter of 2018.
The vessel is expected to remain in service for up to 15 years without drydock so will undergo drydocking and minor modifications prior to commencement of the contract.
Golar says the charter includes a 5-year extension option and is expected to generate operating income of between $18m and $22m per year.
Graham Robjohns, CEO of Golar Partners, commented: “Securing this contract demonstrates the underlying value of the Partnership’s existing assets, adds significant term and revenue backlog whilst simultaneously reducing re-contracting risk. It also reflects the growing interest in smaller, cost competitive FSRUs that can facilitate the opening of niche markets previously considered uneconomic for LNG”.