Table:
| (in thousands of $) | 2019 | 2018 |
| --- | --- | --- |
| As of January 1 | 20,000 | 1,177,489 |
| Additions | 372,849 | 118,942 |
| Transfer to vessels and equipment, net (note 16) | — | (1,296,431) |
| Transfer from vessels and equipment, net (note 16) | — | 20,000 |
| Transfer from other non-current assets (note 17) | 31,048 | — |
| Interest costs capitalized | 10,351 | — |
| As of December 31 | 434,248 | 20,000 |
Paragraphs:
15. ASSET UNDER DEVELOPMENT
In May 2018, upon the completion of the Hilli FLNG conversion and commissioning, we reclassified $1,296 million to "Vessels and equipment, net" in our consolidated balance sheet as of December 31, 2018.
In December 2018, we entered into agreements with Keppel for the conversion of the Gimi to a FLNG and consequently reclassified the carrying value of the Gimi of $20.0 million from "Vessels and equipment, net" to "Asset under development".
In February 2019, Golar entered into an agreement with BP for the employment of a FLNG unit, Gimi, to service the Greater Tortue Ahmeyim project for a 20-year period expected to commence in 2022.
In April 2019, we issued the shipyard with a Final Notice to Proceed with conversion works that had been initiated under the Limited Notice to Proceed. We also completed the sale of 30% of the total issued ordinary share capital of Gimi MS Corp to First FLNG Holdings (see note 5). The estimated conversion cost of the Gimi is approximately $1.3 billion.
Question:
What was the percentage change in asset under development as of December 31 between 2018 and 2019?
Answer: (434248 - 20000)/20000  = 2071.24