Golar, Stonepeak Launch Launch FSRU Joint Venture
Golar LNG Limited announced that it has entered into a 50/50 joint venture with investment vehicles affiliated with private equity firm Stonepeak Infrastructure Partners. The joint venture company, Golar Power Ltd, will offer integrated LNG based downstream solutions, through the ownership and operation of floating storage and regasification units (FSRU) and associated terminal and power generation infrastructure.
FSRU Golar Tundra Sold to Golar LNG Partners
Golar LNG Limited has entered into a purchase agreement to sell the Golar Tundra, a floating storage and regasification unit (FSRU), to Golar LNG Partners LP for a sale price of $330 million. In connection with the closing, Golar LNG Partners will receive a daily fee plus operating expenses, aggregating to approximately $2.6 million per month, for Golar LNG Limited's right to use the FSRU from the date of…
Golar and WAGL Ink Ghana FSRU Contract
Golar LNG Limited announced today that it has executed a firm contract to provide West African Gas Limited (WAGL) with floating storage and regasification unit (FSRU) services to support their liquefied natural gas (LNG) import operations in Ghana. WAGL is jointly owned by subsidiaries of the Nigerian National Petroleum Corporation (NNPC) with 60 percent and Sahara Energy Resource Ltd with 40 percent. The…
Golar Secures FSRU Golar Tundra Financing
Golar LNG Limited announced today that it has received an underwritten financing commitment for the December 2015 delivering newbuild FSRU Golar Tundra. Based on the current cost of the Tundra, the facility of up to $216 million, to be provided by China Merchants Bank Leasing, has a 16 year amortisation profile, will fund the FSRU on a charter free basis, and, at current 10 year interest rate swap levels, will have an all-in cost of less than 6%.
Change in CEO at Golar LNG
Golar LNG Limited today announced that Doug Arnell has decided to step down as CEO of Golar on February 1, 2015. Mr. Arnell's decision is driven by a personal wish to return with his family to his home country of Canada. Mr. Arnell will be succeeded by Gary Smith, who is well known to Golar and who brings with him a track record of leadership and operational management success in the mid-stream oil and gas, shipping and LNG businesses. Mr.
Smith Named CEO of Golar LNG
Gary Smith will take over as CEO of Golar LNG limited, taking over for Doug Arnell, who will step down on February 1, 2015. Smith brings a track record of leadership and operational management in the mid-stream oil and gas, shipping and LNG businesses. His career spans 35 years, including 25 years with Shell and Caltex Australia (a Chevron affiliate) in roles including General Manager LNG Shipping for Shell (STASCO) and General Manager Refining, Supply and Distribution for Caltex Australia.
Golar to Sell Interests in Golar LNG Partners
Golar LNG Limited announced today that it is offering 7,170,000 common units, representing limited partner interests in Golar LNG Partners LP as a selling unitholder in the public offering announced on January 8, 2015 by Golar Partners (the "Offering"). Golar intends to use the net proceeds of the Offering to fund a portion of the recently announced contract with Keppel Shipyard to convert one of its first generation LNG carriers, Gimi, into a floating natural gas liquefaction facility (GoFLNG).
Golar LNG to Acquire Golar Eskimo
Golar LNG Limited announced today that it has entered into an agreement to sell its ownership interests in the companies that will own and operate the floating storage and regasification unit ("FSRU") Golar Eskimo ("Eskimo") to Golar LNG Partners L.P. ("Golar Partners") for a price of USD 390 million. The transaction is subject to the satisfaction of certain closing conditions which is expected to be finalized in January 2015.
Golar LNG's Results for 1H, 2014
*Golar LNG reports a second quarter 2014 net loss of USD $24.2 million (including a non-cash loss of $13.6 million on interest rate swaps). *EBITDA* generated in the quarter amounts to $1.1 million. *Total pro-forma EBITDA** on a group-wide basis (including consolidation of Golar Partners) is $84.3 million. *Golar takes delivery of the LNG carrier Golar Crystal ("Crystal") on May 15. *On June 30 Golar raises $661 million net of fees following the successful follow-on issue of 12…
