Golar LNG aims to buy back its $300m bond issue due in 2025 in a reverse Dutch auction.

This means holders can offer their notes to Golar at whatever price they see as acceptable.

Management will then decide on its own price and buy back anything at or below that level.

The issue carries a coupon of 7%.

DNB Markets is managing the offer, which ends on 9 December.

Golar is an investor in LNG carrier spin-off Cool Company and small-scale vessel operator Avenir LNG.

The company has been inspecting Moss-type LNG carriers in its search for a conversion candidate for its next planned floating LNG production unit, TradeWinds reported last month.

Chief executive Karl Staubo told analysts on a results call that the company is discussing “if and when” it will acquire a ship.

Bigger ship wanted

He said it has the option to use its existing vessel, the 126,000-cbm Gandria (built 1977) and is not 100% dependent on buying a ship, but Golar would like to buy a vessel with a higher storage capacity.

The company also announced it has ordered long-lead items for one of its $300m Mark II LNG carrier-to-3.5 million tonnes per annum FLNG unit conversions.

The Gimi will become an FLNG unit that will serve BP’s Greater Tortue Ahmeyim for Mauritania and Senegal.

Golar has engaged its pre-operations and will have a maritime crew of about 120 mobilised and on the vessel by the year-end.