Wednesday, December 13, 2017

Golar Lng News

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…

ABS, Golar Strike FLNG Deal

ABS Group subsidiary Genesis Technology Solutions, Inc. (GenesisSolutions) won a contract by Golar LNG to develop an intelligent maintenance strategy for the company’s new fleet of floating LNG (FLNG) vessels usingthe GoFLNG floating liquefaction technology. ABS Group will assist Golar LNG with implementing the Maximo computerized maintenance management system (CMMS) to support its asset management program.

Golar LNG to Appoint Sir Frank Chapman as Chairman

Sir Frank Chapman

Rolls-Royce Holdings plc reports that Golar LNG Limited has announced its intention to propose the appointment of Sir Frank Chapman as its Chairman, conditional upon the closing of the Secondary Offering recently announced by Golar LNG Limited. Sir Frank Chapman is a non-executive director, and chair of the safety and ethics committees, of Rolls-Royce Holdings plc. This disclosure is made pursuant to paragraph 9.6.14 (2) of the Listing Rules.

Golar LNG Names Smith as CEO

Golar LNG Ltd said Oscar Spieler would replace Gary Smith as chief executive, as the natural gas shipping company realigns operations, including building up its presence in the Brazilian power generation market. The company said on Tuesday it was in talks with a private equity firm for investments in Golar Power, its unit that holds an interest in a 1.5 gigawatt power station in Sergipe, Brazil.

Keppel Wins Second FLNG Conversion Contract

Keppel Shipyard has secured a firm contract from Golar Gimi Corporation (Golar Gimi), a subsidiary of Golar LNG Limited (Golar LNG), to perform the conversion of a second Moss Liquefied Natural Gas (LNG) carrier, the GIMI, into a Floating Liquefaction Vessel (FLNGV). The contract, which has become effective, is worth approximately $705 million. Michael Chia, Managing Director (Marine & Technology)…

Stolt-Nielsen, Golar LNG Form Joint Venture

Photo: Golar LNG

Stolt-Nielsen Limited and Golar LNG Limited have formed a 50/50 joint venture to pursue opportunities in small-scale LNG production and distribution, the companies announced today. Stolt-Nielsen Limited has invested in Golar LNG through open-market purchases, representing an ownership stake of approximately 2.3 percent in the company. Commenting on the investment, Niels G.

Golar to Sell Interests in Golar LNG Partners

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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…

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.

Change in CEO at Golar LNG

Golar Ship

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

Photo: 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…

Golar LNG Unwinds Part of Total Return Swap

Golar LNG Limited has settled and reduced its exposure under its Total Return Swap (TRS) agreement from 3.5 million shares to 3 million shares through a direct acquisition of 500,000 shares, the company announced today. Golar LNG said it now owns these 500,000 shares outright as treasury shares and continues to hold TRS contracts for a further 3 million shares. Excluding treasury shares…

Golar, Schlumberger Enter LNG Joint Venture

A new joint venture between Golar LNG Limited and Schlumberger, OneLNGSM, has been created with the goal of rapidly developing low cost gas reserves to LNG. The combination of Schlumberger reservoir knowledge, wellbore technologies and production management capabilities, with Golar's low cost FLNG (Floating LNG) solution, will offer gas resource owners a faster and lower cost development thereby increasing the net present value of the resources.

LNG Shipping on Recovery Path: Golar

Photo: Golar LNG Limited

The shipping market recovery is underway, says Golar LNG. Shipping demand has exceeded supply growth for the first time since 2013. "The shipping market is showing strong signs of improving. As of today, the effective time charter rates being achieved in 4Q are more than twice that recorded in 3Q. An improving trend is expected to continue into 2018-2019 when shipping supply should lag demand created by increased production.

Keppel to Convert Second FLNGV for Golar

Keppel to convert second FLNG vessel

Keppel Shipyard Ltd, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd, informed that it is in the process of finalising contracts with Golar Gimi Limited (Golar Gimi), a subsidiary of Golar LNG Limited (Golar LNG), to perform the conversion of a second Moss LNG carrier, the GIMI, into a Floating Liquefaction Vessel (FLNGV). Earlier on 3 July 2014, Keppel…

Golar LNG Secures Charters for Carrier Duo

Golar Arctic

Golar LNG announced today that it has been awarded 2 time charters by Nigeria LNG Ltd ("NLNG") to employ the recently delivered Golar Frost and Golar Crystal. Employment of both vessels under these contracts will commence in January 2015 and will continue for a duration of approximately 12 months for each vessel. NLNG has elected to retire earlier than planned 3…

Golar Cameroon FLNG Project Update

Golar LNG Limited announced its Cameroon FLNG project has received approval and signature of the binding Tolling Term Sheet thereby confirming the commercial terms for the FLNG vessel Golar Hilli.   Cameroon's state owned oil and gas company Société Nationale des Hydrocarbures (SNH), Perenco Cameroon (Perenco) and Golar are all parties to the executed agreement. Operations are scheduled to begin in the second quarter of2017.

Golar Orders Second FLNGV Conversion

Black & Veatch has again been called upon to combine its PRICO LNG technology and global engineering, procurement and construction (EPC) capabilities with the services of Keppel Shipyard Limited. Together, they will convert a 125,000-cubic-meter Golar LNG carrier, the Gimi, into a Floating Liquefaction Vessel (FLNGV). Black & Veatch will provide its PRICO technology as well as perform detailed engineering and process design…

Cheniere Boosts LNG Tanker Fleet Amid Asian Demand Boom

© Kpics / Adobe Stock

U.S. liquefied natural gas (LNG) producer Cheniere Energy has expanded its shipping fleet with a flurry of spot vessel charters to keep up with Asian winter demand growth as spot prices hit three-year highs, market sources said. Cheniere's Sabine Pass terminal in Louisiana pumped out 22 cargoes last month and more are expected as it ramps up its fourth production unit…

Golar Acquires Financing for GoFLNG

Golar LNG

Golar LNG Limited announced today that it has received an underwritten financing commitment for its first GoFLNG project from CSSC (Hong Kong) Shipping Co. Ltd ("CSSCL") in relation to a conversion financing and sale and leaseback transaction for the GoFLNG Hilli. The financing structure will fund up to 80% of the project cost and will be split into two phases. The…

Golar Receives Financing Commitment for GoFLNG Hilli

Golar LNG Limited has received an underwritten financing commitment for its first GoFLNG project from CSSC (Hong Kong) Shipping Co. Ltd (CSSCL) in relation to a conversion financing and sale and leaseback transaction for the GoFLNG Hilli, the company announced today. The financing structure will fund up to 80 percent of the project cost and will be split into two phases.