Golar Power Ltd.
Golar Power Ltd. is a 50/50 joint venture with Golar LNG Ltd. to develop, own and operate integrated LNG-based transportation and downstream solutions including LNG carriers, floating storage and regasification units (“FSRU”‘s) and associated terminal and power generation infrastructure which will operate under long-term contracts with utility-grade offtakers. The company’s initial assets base includes a newbuild FSRU, two modern 160,000 cbm trifuel LNG carriers (suitable for FSRU conversion), and the right to invest in up to 25% of the Sergipe Power project. Additionally, the company has a one year option to acquire a further two LNG carriers for conversion to FSRUs. We believe Golar Power’s assets are well-positioned to take advantage of a global glut of low-cost LNG and bring cleaner, cheaper power to underserved markets through LNG.