bp: agreement with Golar on floating LNG unit

(CercleFinance.com) - Golar and bp announce that they have reached agreements to reset their commercial arrangements for the Gimi FLNG, a floating facility that extracts, liquefies, stores and transfers natural gas directly offshore.


This agreement will simplify contractual cash flows and resolve previous disputes over payments prior to commercial operation.

Golar will also receive lump-sum payments based on project milestones. These cash flows will be amortized over 20 years from commercial operation (COD).


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