Golar LNG sells its shares in Avenir LNG
Published by Oliver Kleinschmidt,
Assistant Editor
Hydrocarbon Engineering,
Golar LNG Limited has entered into a share purchase agreement for the sale of all its shares in Avenir LNG Limited to Stolt-Nielsen Gas Ltd or a total consideration of approximately US$40 million.
The transaction is expected to be completed during the 1Q25, subject to fulfilment of the conditions under the share purchase agreement.
Golar will remain a 25% shareholder and debt provider to Higas Srl, the HIGAS LNG storage terminal in Sardinia, (HIGAS) that was spun off from Avenir LNG in October 2024. As of end October 2024, the book value of HIGAS was US$40.5 million (on a 100% basis), of which $24.7 million was shareholder loans and $15.8 million shareholders equity.
Golar CEO Karl-Fredrik Staubo, commented: “The sale of Golar’s shareholding in Avenir LNG is in line with our strategy to focus on expanding our market leading FLNG position. Golar is proud to have founded Avenir LNG into one of the largest small scale LNG shipping companies globally alongside our partners Stolt Nielsen and Höegh. Following the sale of Hygo Energy Transition Ltd in 2021, our Avenir LNG investment was no longer deemed a core asset of Golar’s portfolio. We wish the Avenir LNG team and Stolt-Nielsen all the best for the future development of Avenir.”
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/29012025/golar-lng-sells-its-shares-in-avenir-lng/
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