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Golar LNG Limited (GLNG +4.2%) trades up today after announcing it's been awarded the Gas...

Golar LNG Limited (GLNG +4.2%) trades up today after announcing it's been awarded the Gas Atacama Mejillones Seaport's floating storage and regasification vessel project. The 15 to 20 year project is expected to generate an average annual EBITDA of between $47 to $48M over the contract term.
Comments (1)
  • Herr Hansa
    , contributor
    Comments (3079) | Send Message
     
    It will be interesting to see how the details develop on this deal. Originally Golar LNG Partners (GMLP) was intended to operate the FSRU conversions. I would have expected GLNG to transfer a ship to GMLP for this use, though perhaps that still may happen in the future.

     

    http://seekingalpha.co...

     

    There are more details about GLNG and GMLP in that article. If the plans of GMLP still expanding their FSRU capability stands true, then I would expect GMLP to benefit a bit more from this than GLNG. To accomplish such a move, GLNG would sell the vessel to GMLP, so GLNG would book a profit on this. At least that is the current model and relationship of these two companies.
    6 Jul 2012, 01:33 PM Reply Like
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