Highlights Golar LNG reports consolidated net income of $16.3 million and consolidated operating income of $20.4 million for the first quarter of 2011 Golar LNG announces a cash dividend of $0.25 cents per share Significant improvement in charter rates during the quarter Golar secures charters for its 4 modern vessels of between 12 and 18 months. The contracts are expected to generate approximately $80 million of EBITDA on an annualized basis Successful completion of the initial public offering of Golar LNG Partners raising gross proceeds of $310 million Golar LNG orders 6 new LNG carriers from Samsung Heavy Industries and has options on a further 2 vessels In April 2011, Golar LNG acquired shares in subsidiary company Golar LNG Energy Limited via private placement share swaps and cash purchases that increased its ownership to 95.1%. A voluntary offer has subsequently been made for the balance of the outstanding shares of Golar LNG Energy Limited and Golar LNG currently owns 99.4 % of the shares. The West Java FSRU Project time charter agreement with PT Nusantara Regas was executed in April 2011 Financial Review Golar LNG Limited ("Golar" or the "Company") reports consolidated net income of $16.3 million and consolidated operating income of $20
Ince & Co advised long standing client Golar LNG Energy (Golar LNG) on the successful completion of an 11-year time charter party (TCP) for the provision of a Floating Storage and Regasification Unit (FSRU) and associated mooring to PT Nusantara Regas (PTNR), a joint venture between Indonesian energy companies Pertamina and PGN, for Indonesia's first FSRU terminal in West Java. The regasified LNG will be supplied by PTNR to Indonesia’s state owned electricity company PLN as a
Exmar, the tanker division of Belgian shipping company CMB is reportedly in talks with Norway's Golar LNG to merge their liquified natural gas activities. It was reported that Exmar director Nicolas Saverys said the new LNG company would have assets worth $500 million. "We are in detailed negotiations with (John) Frederiksen (Golar LNG's shipping magnate owner) about bringing our LNG activities into a new joint venture," Saverys was quoted as saying.
Norwegian gas company Golar LNG Ltd. signed a contract with Keppel Shipyard Ltd. of Singapore for the first ever conversion of an existing liquid natural gas, or LNG, carrier into an LNG floating storage and regasification unit, or FSRU, to be completed in the second quarter of 2007. The company expects a total contract value of around $90 million. The FSRU will be stationed offshore and, through a subsea pipeline, will be capable of a throughput of 2
Keppel Shipyard and Black & Veatch team up with Golar LNG for the second time to convert floating liquefaction vessel 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).
Singapore's Osprey Maritime said on Monday it agreed to sell its liquefied natural gas (LNG) operations to new subsidiary Golar LNG for US$635 million as part of a restructuring exercise. The marine and chartering services provider said in a statement the disposal was in line with the proposal by World Shipholding Ltd, its controlling shareholder, to reorganize and consolidate all of its LNG interests into Golar LNG.
South Korea's Daewoo Shipbuilding and Marine Engineering said on Tuesday it had won a combined $340 million order to build liquefied natural gas (LNG) carriers from Belgium and Norway. Daewoo Shipbuilding won orders to build a $170 million LNG ship each from Belgian shipping group CMB unit Exmar and Golar LNG of Norway, a company spokesman said. Daewoo's LNG orders totaled 10 ships worth $1.7 billion so far this year, he said.
Golar LNG announced that it has agreed to partner with Bluewater Energy Services B.V in bidding for an offshore LNG FSRU opportunity with 's national oil company, PetroSA. Golar and Bluewater will be equal partners in a joint venture formed specifically for this opportunity. Additionally, and in conjunction with this bid, Golar and Bluewater have agreed to acquire the 1977 built Moss type 126,000 m3 LNG Carrier, Hoegh Gandria. The vessel is intended to be used as the converted offshore FSRU.
Golar LNG Limited is pleased to announce that the company has signed a contract with Keppel Shipyard Limited of Singapore for the first ever conversion of an existing LNG carrier into a LNG Floating Storage and Regasification Unit (FSRU). Keppel Shipyard Limited is the leading ship repair yard for Liquefied Natural Gas (LNG) and Liquefied Petroleum Gas (LPG) carriers outside Japan. Moss Maritime of Norway (a Saipem company) has prepared the conceptual specification for the FSRU and will
According to a report from RTT News, on March 1, Golar LNG Ltd. (GOL) posted consolidated net income of $4.7m and consolidated operating income of $15m for the fourth quarter of 2010. (Source: RTT News)
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
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
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
Africa has planned three floating LNG export projects - Cameroon, Equatorial Guinea and Mozambique. According to local media reports, the African nations are launching LNG projects - three such planned projects in Nigeria; two planned LNG projects in Equatorial
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).
Golar LNG Limited announced that with effect from September 19, 2014, Sir Frank Joseph Chapman has been appointed to the Board of Directors of the Company and will act as the Company's Chairman. Sir Frank Chapman has worked 40 years in the oil and gas industry culminating in a twelve-year
Seadrill Limited informs that Tor Olav Trøim has decided not to stand for re-election to the Board of Directors in order to focus his efforts on developing Golar LNG. John Fredriksen, Chairman of the Board of Directors comments, "I consider my stake in Seadrill a long term
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
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.
KSI Production Pte Ltd (KSI), an indirect wholly-owned subsidiary of the Keppel Corp. says it has agreed to acquire 50 ordinary shares representing a 10% interest in Golar Hilli Corporation, which owns one Moss LNG carrier. Golar Hilli is the owner of the Moss LNG carrier HILLI which
The floating production business continues to be very strong, particularly in the LNG gas processing sector. Last month saw a speculatively ordered floating liquefaction plant – a $1.2 billion contract – as well as several regasification vessel contracts
Keppel Shipyard says that the contract it entered into earlier with Golar Hilli Corporation to perform the world's first-of-its-type conversion of an existing Moss LNG carrier, the Hilli, into a Floating Liquefaction Vessel (FLNGV), has become effective
GasAtacama, energy provider to metal producers in Chile's Atacama desert, has lined up eight potential U.S. natural gas suppliers for a proposed import terminal on its Pacific Coast, but uncertainty about energy demand has delayed deals, CEO Rudolf Araneda told Reuters on Thursday.
By Jonathan Saul and Oleg Vukmanovic, Reuters Deliveries of new gas tankers have created a glut that is threatening to tip some operators into losses, just as other shipping markets emerge from their worst downturn in decades. The liquefied natural gas (LNG) tanker market was until recently
Golar has been contracted by Kuwait National Petroleum Company to provide loating storage and regasification ("FSRU") services to support their LNG import operations at Mina Al Ahmadi. The contract will be for an initial period of 5 years and comprises the provision of portside FSRU