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The Moss LNG carrier Hilli. Image courtesy of Rafael Martinez Bescos/Shipspotting.com.

Singapore-based Keppel bought a 10 percent stake in Golar Hilli, owner of the Moss LNG carrier Hilli, Thursday for $50.

The purchase was made through Keppel’s indirect, wholly-owned subsidiary KSI Production.

Keppel acquired 50 ordinary shares for $1 per share from Golar GHK Lessors, the sole owner of Golar Hilli.

The Hilli LNG carrier is scheduled to be converted into a Floating Liquefaction Vessel by Keppel Shipyard.

Both Golar GHK and Golar Hilli are subsidiaries of Bermuda-based Golar LNG Limited.

As part of the deal, KSI will extend a shareholders’ loan of about $21 million to Golar Hilli.

In connection with the deal, KSI also signed a shareholders’ agreement with Golar GHK and Golar Hilli.

The agreement governs how Golar GHK, Golar Hilli and KSI will seek opportunities and enter into agreements for the use of the Hilli vessel.

Under the agreement, Golar Hilli may issue cash calls on a pro rata basis to shareholders for future funding requirements for the construction, deployment, and commissioning of Hilli based on the anticipated budget limit of $1.3 billion including contingency.