Perenco takes stake in Golar LNG

London-based oil and gas firm Perenco has purchased a stake in floating LNG player Golar LNG.

According to a SEC filling by Golar, Perenco’s investment affiliate Naria has taken a 9.9 percent stake.

“The total number of common shares of the issuer reported as beneficially owned includes 4,784,166 common shares held directly by Naria and 5,500,000 common shares pursuant to the exercise of share options held directly by Naria, which will be settled within 60 days,” Golar said.

Law firm Debevoise & Plimpton said in a separate statement it has advised Perenco in an approximately $250 million investment in Golar by its investment affiliate Naria.

Golar and Perenco are partners in the FLNG project located offshore Cameroon’s Kribi.

Last year, Golar’s FLNG Hilli, which serves the project, offloaded its 100th cargo of LNG since it started operations in 2018.

Up to date, the world’s first FLNG conversion delivered more than 112 cargoes.

Hilli produced 1.46 million tonnes in 2023.

The floating LNG producer has in total four trains installed onboard with a production capacity of 2.4 mtpa.

Golar previously said its focus is on redeployment of the FLNG following the end of its current charter in July 2026.

Last month, the LNG firm led by Tor Olav Trøimis said it is working to sign definitive agreements for an up to 20-year FLNG deployment that could utilize either Hilli or a 3.5 mtpa FLNG.

According to Golar, the FLNG development has a planned start-up during 2027.

State-run Nigerian National Petroleum Corp said in a statement last week that it has executed a project development agreement (PDA) with Golar for the deployment of an FLNG offshore the Niger Delta.

According to NNPC, the partners “have both expressed their commitment to achieve a final investment decision (FID) before the end of the fourth quarter of 2024 and first gas by 2027″.

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