Golar LNG successfully achieved an award for the Gas Atacama FSRU and again this amends the company’s profile as one of the leading FSRU solution providers and an FSRU project.
During Q3, Golar Maria re-charted on a voyage basis at historically higher rates. We expect longer-term contracts will be contemplated in the coming months. In July, Golar LNG Partners raised net proceeds from public follow-on offering of approximately $188 million as part of the Nusantara Regas Satu topline.
Let's now turn over the page to go through our financial highlights. Highlighted there are net operating revenue for the quarter of $103 million (inaudible) it’s been increased from $82.3 million from Q1. This is a result of full contribution from Arctic which is approximately $45 million in EBITDA; Grand, which is $39 million approximately in EBITDA and also vast contributions from Viking and Khannur, whose charter commenced during the quarter.
As operating expenses, we mentioned last quarter that the level at which we reported the $27.9 million was exceptionally, high that was particularly as a result of the reactivation cost we incurred for Hilli and the Gandria. In Q2 that level of expenses did not materialize and as a result our operating expenses for Q2 is at a much better level at $17.8 million. Those two factors have contributed to a 65% increase in EBITDA from $48.4 million in Q1 to approximately $80 million in Q2.Our net financial expenses during Q2 have increased to $12.9 million from $8.8 million in Q1 and this is as a result of two factors, we only incurred partial charge of convertible bond interest in Q1, whereas in Q2 that was a full quarter charge. Similarly, we incurred mark-to-market losses on some of our interest rate swaps as a result of medium to long term swaps declining from levels of Q1 to Q2. All of those factors have contributed to our net income increase of approximately 133% from Q1 to $35.4 million.
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