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
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.
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.
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
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 Dubai’s Gulf News, excess capacity in the global fleet of liquefied natural gas carriers will be at its highest this decade in 2008, due to a growing, worldwide fleet causing lower utilization rates and it is predicted by analysts that utilization of the LNG fleet will fall to 77.4 percent in 2008, almost 13 percentage points lower than at the beginning of the decade. Demand for LNG tankers has deteriorated markedly as a result of a large increase in fleet supply partly caused by
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.
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)
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
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.
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
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
ABB recently won an order worth $80 million from Samsung Heavy Industries to supply energy efficient drives, motors and electrical power systems for five drilling vessels and two liquefied natural gas (LNG) carriers to be built at Samsung’s shipyard in Korea.
Golar LNG Ltd. secures Chile's first Floating Storage & Regasification (FSRU) contract award Golar LNG Limited has been awarded the Gas Atacama Mejillones Seaport's FSRU Project ("Gas Atacama"). The FSRU will be moored approximately 1
Keppel Shipyard enters into a term sheet agreement with Golar LNG regarding the conversion of three LNG vessels. Keppel Shipyard Ltd (Keppel Shipyard) has entered into a term sheet agreement with Golar LNG Ltd (Golar LNG), to work together on the conversion of up to three LNG vessels into
Emissions regulations from 2015 onwards are driving shipowners to a crossroads on fuel selection. Ahead of Europort 2013, Rotterdam, Dutch interests are making significant waves in tangible investments in LNG as a fuel option. While there is not consensus on the potential of liquefied natural
Drydocks World said that Floating Storage Re-gasification Unit (FSRU) Toscana sailed away from Drydocks World – Dubai. The unit, formerly the 138,830-cbm LNG carrier Golar Frost, has been under conversion since June 2009 at Drydocks world Dubai yard for contractor Saipem and
International law firm Ince & Co. LLP advised Golar LNG Ltd. on the successful completion of a Floating Storage and Regasification Unit (FSRU) time charter with the Ministry of Energy and Mineral Resources of Jordan. Ince advised Golar on all aspects of the charter and related documentation
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
Tugs Fairmount Summit and Fairmount Alpine have delivered the very first “floating gas plant” in the world, the FSRU Toscana, safely offshore Livorno, Italy. The Toscana, a one of a kind unit, was towed from Dubai via Malta where final equipment was installed
The 'LNG Greenrhine'' has been christened by Mrs. Edwige Belliard, president of Central Commission for the Navigation of the Rhine (CCNR). The LNG Greenrhine is an electrically powered ship with diesel generators fuelled by LNG (Liquid Natural Gas)
Hyundai Samho Heavy Industries (HSHI), a shipbuilding affiliate of Hyundai Heavy Industries, the world’s biggest shipbuilder, successfully launched a 162,000 m3 LNG carrier built using the on-ground shipbuilding method for the first time in the world, the shipyard claims.
The FSRU Toscana, the world’s first-ever floating Liquified Natural Gas (LNG) platform, has begun commercial operations off the coast of Italy, on schedule. However, before the 288-meter container ship, turned floating LNG storage platform