Michael Vellucci

Golar LNG Partners: Attractive LNG Fleet Operator With Increasing Distributions

Business Overview

Golar LNG Partners (NASDAQ:GMLP) is an independent owner and operator of floating storage re-gasification units (FSRUs) and liquefied natural gas (LNG) carriers. The company provides time charters for the transportation of LNG gas and FSRUs. A time charter is a contract for the use of the vessel for a fixed period of time, which the company defines as a minimum of 5 years, at a specified daily rate. Under a time charter, the vessel owner provides crewing and other services related to the vessel's operation.

The company operates 8 vessels which are all under long-term contracts. The earliest contract expires in 2015 and the latest expires in 2024.

The company is set up as an MLP...

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