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Asset Under Development | 6 Months Ended
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Jun. 30, 2021
Extractive Industries [Abstract] |
Assets Under Development | ASSET UNDER DEVELOPMENT
(in thousands of $) | June 30, 2021 | December 31, 2020
Opening asset under development balance | 658,247 |  | 434,248 |
Additions | 152,886 |  | 283,927 |
Transfer from vessels and equipment, net | — |  | 77,172 |
Transfer from other non-current assets | — |  | 16,213 |
Interest costs capitalized | 20,323 |  | 34,296 |
Disposal of LNG Croatia | — |  | (187,609) |
Closing asset under development balance | 831,456 |  | 658,247 |
Gimi conversion In February 2019, we entered into an agreement with BP for the employment of a FLNG unit, the Gimi, after conversion for 20-years. In April 2019, we completed the sale of 30% of the total issued ordinary share capital of Gimi MS to First FLNG Holdings. In October 2020, we had confirmed a revised project schedule with BP which extended the target connection date by 11 months to 2023. Except for the target connection date, the terms of the LOA remain unchanged. The conversion cost including financing cost is approximately $1.5 billion of which $700 million is funded by the Gimi facility (note 16). As at June 30, 2021, the estimated timing of the outstanding payments in connection with the Gimi conversion are as follows:
(in thousands of $) |
Period ending December 31, |
2021 (1) | 114,492 |
2022 | 265,831 |
2023 | 277,336 |
2024 | 58,792 |
| 716,451 |
(1) For the six months ending December 31, 2021

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