XML 37 R30.htm IDEA: XBRL DOCUMENT v3.24.3
Related Party Transactions
 9 Months Ended
Sep. 30, 2024
Related Party Transactions [Abstract]  
Related party transactions RELATED PARTY TRANSACTIONS
a) Transactions with existing related parties:

Amounts due from related parties as of September 30, 2024 and December 31, 2023 consisted of the following:

(in thousands of $)September 30, 2024December 31, 2023
First FLNG Holdings (“FFH”) (1)
13,384 — 
Avenir (2)
7,632 7,312 
(1) First FLNG Holdings - In August 2024, we granted a shareholder loan to FFH, through Gimi MS, for maximum amount of $20.0 million to enable FFH to fund its portion of Gimi MS’s funding requirements. The shareholder loan is repayable on December 31, 2024 and bears an interest rate of 12% per annum, compounded monthly. As of September 30, 2024, $13.2 million was drawn by FFH and interest of $0.2 million was accrued for the nine months ended September 30, 2024.
(2) Avenir - Non-current amounts due from Avenir are comprised primarily of unpaid debt guarantee fees, a revolving shareholder loan principal and related accrued interest and fees.
In 2021, we granted a revolving shareholder loan to Avenir with an original maturity of October 2024, which was subsequently extended to November 2025. The shareholder loan bears a fixed interest rate of 7%. As of September 30, 2024, the shareholder loan of $5.3 million is fully drawn and the total interest receivable amounted to $0.3 million and $0.2 million for the nine months ended September 30, 2024 and 2023, respectively. Avenir also entered into agreements to compensate Golar in relation to the provision of certain debt guarantees relating to Avenir and its subsidiaries, amounting to $0.1 million and $0.1 million for the nine months ended September 30, 2024 and 2023.
b) Transactions with former related parties

Following the sale of our CoolCo shares in March 2023, CoolCo ceased to be a related party and subsequent transactions with CoolCo and its subsidiaries were treated as third-party transactions and settled under normal payment terms.

Summarized below are the transactions with CoolCo and its subsidiaries for the period from January 1, 2023 to March 2, 2023:

(in thousands of $)
Period ended January 1, 2023 to March 2, 2023
Management and administrative services revenue
588 
Ship management fees expense
(333)
Debt guarantee fees
175 
Commitment fees
21 
Total451