A floating storage and gasification unit has been given the thumbs up by its new owner, LNG Hrvatska.
The 140,000-cbm LNG Croatia (built 2005) has been accepted by the Croatian company and its sale is complete, seller Golar LNG said on Wednesday.
The Tor Olav Troim-backed company said the sale will free up roughly $47m in cash over the next two quarters after Golar pays off the vessels' debt and costs of converting it from an LNG carrier.
New York-listed Golar LNG will continue to operate and maintain the LNG Croatia for at least the next decade.
The former Golar Viking arrived in Croatia in mid-October, TradeWinds reported, after a three-week trip following its conversion at Hudong-Zhonghua Shipbuilding (Group)'s Huarn Dadong Dockyard in China.
The conversion deal was part of a €160m ($195m) bid won in 2018 by the former Golar Power, now known as Hygo Energy Transition.
Hygo was set for a spin-off into a public listing in the autumn, but was stymied by a bribery investigation in Brazil implicating its chief executive. Golar LNG still intends to complete the deal.
The LNG Croatia will offer a nominal regasification capacity of 300,000 cbm per hour, or 2.6bn per year.
The vessel will be kept in Sepen Bay, near the Krk island terminal.
The terminal is set to come online on 1 January and will supply gas to both Croatia's domestic market and the region.
The terminal already has a 15-year, 468m-cbm-per-annum deal to provide cargoes to Qatari trader Powerglobe, the energy arm of Optimized Holding.
