New Fortress Energy Inc. (NFE) has agreed to sell its stake in Golar LNG Ltd.’s floating liquefied natural gas (FLNG) production platform in Cameroon as it focuses on increasing utilization of its fleet and strengthening returns to investors.

New York-based NFE will sell its stake in the 2.4 million metric ton/year platform Hilli Episeyo for $100 million and Golar’s remaining shares in NFE, the companies disclosed Monday. As a part of the deal, Golar could also take on $323 million in debt obligations for Hilli.

The deal would give Bermuda-based Golar 100% ownership of Hilli’s two trains and boost its earnings share from the current contract with Perenco and Cameroon’s national oil company, Société Nationale des Hydrocarbures (SNH), set to expire in 2026. 

[Where...