LONDON--(Marketwire - Nov 29, 2012) - Golar LNG Limited ("Golar" or the "Company") ispleased to announce today thatit has entered into a five year time charter with an integrated energymajor forone of its modern LNG carriers, the Golar Maria. The vessel wasdelivered tothe Charterer with effect from November 28 and will remain on charterthroughthe end of 2017. The time charter will generate approximately $24million ofannualized EBITDA.
As this is a charter of five years in length the vessel will be offered toGolarLNG Partners L.P. ("Golar Partners") to acquire. This will provideGolarPartners the potential opportunity for another accretive acquisitionand thepossibility of further increasing its distributions, which is ofsignificantbenefit to Golar given its 54% ownership position in Golar Partnersand itsincentive distribution rights.
The rate achieved for this five year term (which encompasses the periodwhen allcommitted vessel orders will be delivered fleet-wide) lendssupport tofavourable rates for Golar's tri-fuel diesel electric newbuilds as theinherentoperating efficiencies get built in as premium to existing modern steamvessel(such as Golar Maria) charter rates. This saving could be anywhere between$20-40,000 per day depending on fuel costs.
November 29, 2012
This information is subject of the disclosure requirements acc. to §5-12 vphl(Norwegian Securities Trading Act)
Press release PDF: http://hugin.info/133076/R/1661575/538335.pdf
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Source: Golar LNG via Thomson Reuters ONE
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