Photo: Illustration only (Courtesy of Golar Power)

Golar LNG Partners, Golar Power team up on LNG terminals development

Nasdaq-listed Golar LNG Partners, a limited partnership formed by Golar LNG, signed an LNG terminal solutions development deal with Golar Power.

Golar units partner up on LNG terminals development
Illustration only (Courtesy of Golar Power)

Under the agreement, the two companies intend to work together to develop hub-spoke LNG terminal solutions utilizing GMLP’s available asset portfolio, where GMLP’s assets are technically suitable.

The terms and structure of the commercial cooperation will be worked on a project by project basis given the customized nature of each potential terminal, Golar said in its statement on Monday.

As part of the agreement, Golar Power, a venture of Golar LNG and Stonepeak Infrastructure Partners, and Golar Partners have agreed to
terminate the existing omnibus agreement between the entities.

Karl Fredrik Staubo, CEO of Golar LNG Partners said, “This agreement will, alongside normal FSRU tendering activity, increase the Partnership’s re-contracting options, and provide an opportunity to potentially earn higher returns than standard FSRU contracts. The Partnership’s assets provide an opportunity to fast-track global terminal opportunities that should benefit both parties.”