Golar LNG Ltd. is offering 3.4 million common units, representing limited partner interests in Golar LNG Partners LP, as a selling unitholder in the public offering announced Dec. 5 by Golar Partners. Golar Partners also plans to offer 5.1 million of its common units in the offering. Golar GP LLC, the Partnership’s general partner, intends to maintain its 2% general partner interest by subscribing to the newly issued units.
Golar intends to use the proceeds it receives from its offering of the common units of Golar Partners to create liquidity that potentially can be used to develop its floating liquefied natural gas (LNG) production business.
Following completion of the offering, Golar will own the following interests in Golar Partners: 8,838,096 common units, 15,949,831 subordinated units, the 2% general partner interest (through its ownership of the general partner), and all of the incentive distribution rights.