Anglo-French oil and gas company Perenco has picked up a nearly 10% stake in floating liquefied natural gas (FLNG) specialist Golar LNG.
A filing to the US Securities and Exchange Commission (SEC) shows Perenco investment affiliate Naria bought close to 10.3m Golar LNG shares, with some 4.8m held directly and about 5.5m as an option, which will be settled within 60 days.
The buy-in is worth about $250m, according to Perenco’s advisors at New York-based law firm Debevoise & Plimpton.
The Nasdaq-listed Golar has had a 2017-converted FLNG unit, Hilli, operating for Perenco and Cameroon’s national oil firm, Société Nationale des Hydrocarbures, since 2018 under a contract set to expire in July 2026.
The Tor Olav Trøim-backed company has identified Africa as one of its key regions. It has a deal in place with Nigeria’s state oil firm NNPC to build an FLNG plant in the country, subject to a final investment decision. Golar has been eyeing a 20-year deal for either Hilli when and if it comes off contract or another conversion candidate, the 2004-built Fuji LNG.
The Golar LNG-owned Gimi FLNG unit is operating at BP’s Tortue project offshore Mauritania under a contract until the second quarter of 2044.
