Golar LNG Partners LP announced that, as provisioned under the terms of the contract, they have received a notice of early termination of the Golar Spirit charter from charterers Petrobras.
The Charter end date will now be June 21, 2017. The original end date of the charter was August 2018. In accordance with the terms of the Charter, Charterers will pay to the Partnership a compensation fee as a result of the early termination representing approximately 62% of the EBITDA remaining under the contract from June 21, 2017 to the original contract end date.
The Partnership will immediately commence re-marketing the vessel for FSRU employment post June 2017. There is currently significant interest and bidding activity in the FSRU market and also a limited number of FSRUs available for the next two years. Golar Spirit, as a relatively small capacity FSRU could be well suited for a number of emerging smaller scale FSRU projects as well as a potential bridging solution for larger projects.