Breaking News: Golar Takes Full Control of FLNG Hilli with Acquisition of Minority Interests
Description:
Golar LNG Limited (“Golar” or “the Company”) is pleased to announce that the company has acquired Seatrium’s and Black & Veatch’s minority ownership interests in the FLNG Hilli. The acquisitions comprise all third-party interests in the asset, including a total of 5.45% common units, 10.9% Series A shares, and 10.9% Series B shares. The transaction is equivalent to ~8% of the full FLNG capacity. The total consideration for the acquisitions is $90.2 million, of which $59.9m is in equity and $30.3 million is a pro-rata share in the existing FLNG Hilli debt facility. The full economic interest of the increased ownership in FLNG Hilli will be effective from 1st of January 2025.
Effects on Individuals:
As an individual, the acquisition of minority interests in FLNG Hilli by Golar LNG Limited may not directly impact you on a day-to-day basis. However, this move could potentially result in changes in the LNG industry, which may indirectly affect individuals through shifts in energy prices or supply chain dynamics. It is essential to keep an eye on developments in the sector to stay informed about any potential impacts on your daily life.
Effects on the World:
The acquisition of minority interests in FLNG Hilli by Golar LNG Limited is a significant development in the global LNG market. Golar’s full control of the FLNG asset could lead to strategic changes in LNG production, distribution, and pricing on a global scale. This move has the potential to influence the dynamics of the energy market, impacting various industries and economies worldwide. It is crucial for stakeholders in the energy sector and beyond to closely monitor these developments to assess the broader implications on the world stage.
Conclusion:
In conclusion, Golar LNG Limited’s acquisition of minority interests in FLNG Hilli marks a significant step in the company’s strategic expansion in the LNG industry. This move not only solidifies Golar’s position in the market but also has the potential to impact the energy landscape globally. Individuals and stakeholders alike should pay attention to the ripple effects of this acquisition to stay informed and prepared for any changes that may arise in the industry.
