Photo: Courtesy of New Fortress Energy

New Fortress Energy completes Golar LNG units buy

New Fortress Energy said it has completed the acquisition of Golar LNG’s units Hygo Energy Transition and Golar LNG Partners valued at $5.1 billion.

New Fortress Energy completes Golar LNG units buy
Courtesy of New Fortress Energy

Hygo Energy Transition is a 50-50 joint venture between Golar LNG Limited and Stonepeak Infrastructure Partners. NFE has completed the acquisition with 31,372,549 shares of NFE and $580 million in cash.

The outstanding shares of Golar LNG Partners have been purchased at a price of $3.55 per common unit in cash.

“The addition of the Hygo team, together with a great portfolio of world-class LNG ships and operators, enhances our efforts to bring more clean and affordable energy around the world,” said Wes Edens, Chairman and CEO of NFE.

With the acquisition, NFE takes hold of operational floating storage and regasification unit (FSRU) terminal and a 50 per cent interest in a 1500MW power plant in Sergipe, Brazil, as well as three other FSRU terminals with associated power opportunities that are advancing through development and construction.

Including the acquisition of GMLP, NFE has become more integrated by adding a global shipping fleet of seven FSRUs and six LNG carriers as well as a 50 per cent interest in Trains 1 and 2 of the Hilli Episeyo, a floating liquefaction vessel.