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VARIABLE INTEREST ENTITIES (Tables)
 12 Months Ended
Dec. 31, 2014
VARIABLE INTEREST ENTITIES [Abstract]  
Schedule of Sale Leaseback Transactions [Table Text Block]
The table below gives a summary of the sale and leaseback arrangement, as of December 31, 2014:

Vessel
Effective from
Sales value (in $ millions)
First repurchase option (in $ millions)
Month of first repurchase option
Last repurchase option* (in $ millions)
Month of last repurchase option*
Golar Glacier
October 2014
204.0
173.8
October 2019
142.7
October 2023

*For the Golar Glacier, ICBC has a purchase option exercisable at the end of the lease term by which the vessel may be sold to us for a fixed price of $135.1 million or $116.7 million if net of the deferred purchase consideration.
Summary of the bareboat charter rates per day based on Base LIBOR Interest Rate for the next five years [Table Text Block]
The bareboat charter hire is set at a fixed daily net rate of $46,850. A summary of the bareboat charter for the Golar Glacier is shown below.

 
2014 (in $ thousands)
2015 (in $ thousands)
2016 (in $ thousands)
2017 (in $ thousands)
2018 (in $ thousands)
Golar Glacier
4,263
17,100
17,147
17,100
17,100