Golar LNG, a Bermuda-headquartered owner and operator of liquefied natural gas (LNG) midstream infrastructure, has landed a multimillion-dollar financing to fuel its floating LNG (FLNG) expansion.
Golar LNG has announced the closing of a new $600 million senior secured revolving credit facility (RCF), which further strengthens the firm’s balance sheet flexibility and facilitates further FLNG growth.
The facility received strong backing from a consortium of banks, including ABN AMRO, Citibank, Danske Bank, and Standard Chartered Bank. The RCF is secured by the company’s investment in the MKII FLNG currently being converted in China to serve a 20-year contract in Argentina.
MK II FLNG and Hilli FLNG will work at the Argentina LNG project and be chartered to Southern Energy S.A. (SESA) , a company formed to enable LNG exports from the South American country. This firm is owned by a consortium of Argentinian gas producers, including Pan American Energy (30%), YPF (25%), Pampa Energia (20%), Harbour Energy (15%), and Golar (10%).
Scheduled for delivery in Q4 2027, the FLNG MK II, converted from the LNG carrier Fuji, has a liquefaction capacity of 3.5 million tonnes per year. The FLNG Hilli is one of the world’s first converted floating LNG units and has been in commercial operation since 2018.
The combined capacity of the two FLNGs will be about 6 million tonnes per year (mtpa), once the FLNG Hilli Episeyo starts commercial operations in September 2027 and MK II follows suit in late 2028.