Golar LNG to sell $40 million in Avenir shares as part of FLNG expansion strategy

Golar LNG has entered into a share purchase agreement for the sale of all its shares in Avenir LNG to Stolt-Nielsen Gas Ltd. for a total consideration of approximately USD $40 million. The transaction is expected to be completed during the first quarter of 2025, 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 that was spun off from Avenir LNG in October 2024. As of end October 2024, the book value of HIGAS was USD 40.5 million (on a 100% basis), of which $24.7m was shareholder loans and $15.8m shareholders equity.

“The sale of Golar’s shareholding in Avenir LNG is in line with our strategy to focus on expanding our market leading FLNG position," commented Golar CEO Karl-Fredrik Staubo. "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.”