From Earlier: Golar Announces Winter Contract Extension and Modification

Golar LNG Partners LP

announced today that it has reached agreement with Petrobras to make certain modifications to the Golar Winter floating storage and regasification unit and to extend the term of the contract by 5 years to 2024. Petrobras have taken the decision to move the Golar Winter FSRU from its present site in Rio de Janeiro to Bahia and as a consequence the vessel will require certain modifications including the addition of LNG loading arms. Golar Partners has agreed to make these modifications and Petrobras have agreed to an increase in the charter rate in return for the upgrades to be made to the vessel. In addition to the 5 year extension, Golar Partners will receive, in nominal terms, approximately $24 million in additional revenue over the term of the contract before the effect of rate escalation as provided for in the time charter.