Golar LNG Limited has entered into a purchase agreement to sell the Golar Tundra, a floating storage and regasification unit, to Golar LNG Partners LP for a sale price of $330.0 million.

In connection with the closing, the Partnership will receive a daily fee plus operating expenses, aggregating to approximately $2.6 million per month, for Golar's right to use the FSRU from the date of the closing until the date that the Golar Tundra commences operations under its time charter with West Africa Gas Limited.

In return, the Partnership will remit to Golar any hire income received with respect to the Golar Tundra during this period. The sale is expected to close in March 2016 and the vessel is expected to commence operations under its time charter with West Africa Gas Limited at the end of the second quarter of 2016.

Tags: Golar LNG