Golar Lng Limited News

Höegh LNG announced on Monday that its president and CEO Sveinung J. S. Støhle is resigning to purse a career outside of Norway.The Norwegian shipowner said Støhle gave his resignation notice on October 9 and that he will remain in his role until November 1.Thor Jørgen Guttormsen will act as interim president and CEO effective November 1 and until a permanent successor is appointed.An  LNG industry veteran with more than 25 years of experience in shipping and oil and gas, Støhle has worked for Höegh LNG since 2005. He served as director and chairman of the board of directors of Höegh LNG Partners LP since April 2014 but stepped down as a chairman when assuming the position as CEO of Höegh LNG Partners LP since August 2020.

As the focus on carbon emissions comes to the fore across all industries, Keppel O&M, which supports the circular economy concept and is a ship conversion leader, is able to help companies reduce their indirect emissions. Proof of this was delivery of the world’s first FLNG conversion solution that dramatically reduced the carbon footprint of the project as compared to new construction. There’s a second conversion project currently underway, and by the way: it’s faster to market…

Singapore's Keppel Offshore & Marine has said that converted FLNG vessels save approximately 33% of greenhouse gas (GHG) emissions compared to an FLNG new build, citing a study by environmental consultants, Environmental Resources Management (ERM).Commissioned by Keppel O&M, the study by ERM assesses the converted and new build FLNG across three stages of the project life cycle, namely the end of life of the LNG tanker, repurposing, or shipbuilding of the FLNG, and maintenance…

Golar Power, which offers integrated liquefied natural gas (LNG) based downstream solutions, and Petrobras Distribuidora S.A. (BR Distribuidora) announce the formation of a Partnership for the development of an LNG distribution businesses in Brazil. According to a press release, the intention is to introduce LNG as an alternative to the fuels currently available to Brazil’s cargo and people transportation, industrial, thermoelectric generation, commercial and residential sectors.Both Golar Power and BR Distribuidora believe that LNG is an innovative and potentially disruptive solution for the transportation sector in Brazil that delivers environmental benefits as well as important economic gains for customers, society and for Brazil as a whole.

The owner and operator of liquefied natural gas (LNG) carriers GasLog and spin-off GasLog Partners are withdrawing their LNG carriers from their pooling joint venture with Golar LNG.The Cool Pool was launched in September 2015 with 14 tri-fuel diesel engine (TFDE) LNG carriers contributed by three owners: three ships from Dynagas Ltd, three from GasLog Ltd  and eight from Golar LNG Ltd.Golar LNG Limited announced in a press release that due to the potential spin-off of its TFDE fleet into a new pure-play LNG shipping entity, GasLog has decided to withdraw its six vessels from the Cool Pool. Golar, or, subject to interim market conditions, the spin-off entity, will assume ownership of the Cool Pool following GasLog's departure in June.

Keppel Shipyard Ltd (Keppel Shipyard), has received the Final Notice to Proceed (FNTP) from Gimi MS Corporation, a subsidiary of Golar LNG Limited, to commence full conversion works for the Gimi Floating Liquefaction Vessel (FLNG) project.The wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M) said in a press release that  the total contract is worth US$947million and builds on the issuance of the Limited Notice to Proceed (LNTP) on 17 December 2018.Keppel Shipyard's scope of work in the conversion of a Moss Liquefied Natural Gas (LNG) carrier into an FLNG vessel includes the design, detailed engineering and procurement of the marine systems as well as conversion-related construction services.It will be similar to the work done on the first FLNG vessel…

Golar LNG Limited announced Monday that it has received a Limited Notice to Proceed (LNTP) from BP Mauritania Investments Ltd and BP Senegal Investments Ltd, in their capacity as block operators, in respect of the provision of a Floating Liquefaction Vessel (FLNG) to support the development of Phase 1 of the Greater Tortue / Ahmeyim field, located offshore Mauritania and Senegal.The LNTP is in furtherance of a Preliminary Agreement and Heads of Terms for a Charter Agreement with BP announced by Golar in April 2018.The vessel conversion would take place at Keppel Shipyard Ltd building on Keppel's delivery of the FLNG Hilli Episeyo, utilizing Black and Veatch Corporation's PRICO technology.Golar said discussions regarding a minority investment in the vessel are also being progressed.

Norwegian shipping company Golar LNG Partners is deploying a floating storage and regasification unit (FSRU) to Jamaica for up to 15 years from the fourth quarter of 2018."FSRU Golar Freeze will shortly arrive offshore Jamaica where she will service a 15-year charter for an energy and logistics company," the partner company of Golar LNG Limited said in a stock market annoucement.From commencement of commercial operations, expected during January, 2019, hire will be receivable at the full daily base rate, initially expected to deliver approximately $18 million in annual Adjusted EBITDA, it said.Meanwhile, Golar Maria's 10-month charter commenced in early August. Spot voyages prior to this resulted in the vessel achieving a utilization rate of 89% for the quarter.

Golar LNG Limited confirmed that FLNG Hilli Episeyo continues to operate with 100 percent commercial availability.Currently in the process of exporting its 10th LNG cargo, the vessel's proof of concept continues to add momentum to both existing and new opportunities under discussion. Discussions also continue with field operator Perenco as to the timing of utilization of Hilli Episeyo's excess capacity.Golar and affiliates of Keppel Shipyard Limited and Black and Veatch closed the sale of 50 percent of the common units in Golar Hilli LLC to the Partnership on July 12, . Although Golar continues to consolidate Golar Hilli LLC, after this transaction…

Golar LNG Limited announced it has entered into a Preliminary Agreement and exchanged Heads of Terms (HoT) for an FLNG vessel for phase 1A of the Greater Tortue / Ahmeyin field, located offshore Mauritania and Senegal.The Preliminary Agreement with BP Mauritania Investments Ltd and BP Senegal Investments Ltd creates obligations on Golar to progress FEED work and be ready for a vessel conversion from July 1, 2018 onward, which would be contingent on Project FID, expected end 2018.The vessel conversion would take place at Keppel Shipyard Ltd, building on Keppel's delivery of the FLNG Hilli Episeyo, utilizing Black and Veatch Corporation's…

Golar LNG Limited said today that its floating liquefied natural gas (FLNG) vessel Hilli Episeyo departed Singapore for Cameroon earlier than anticipated, leaving at 10 a.m. local time on October 12.   Hilli Episeyo was scheduled to leave Singapore between October 15 and October 20, but Golar LNG said a decision was made to complete LNG bunkering in Cameroon rather than in Singapore. The voyage to Cameroon is expected to take between 32 and 40 days.    The world’s first FLNG conversion, Hilli Episeyo was converted from a 1970s-built LNG carrier by Keppel Shipyard. The vessel will go to work offshore Kribi, Cameroon for Société Nationale des Hydrocarbures and Perenco Cameroon.

Golar LNG Partners announced that it has entered into a purchase and sale for the acquisition from Golar LNG Limited and affiliates of Keppel Shipyard and Black and Veatch of equity interests in Golar Hilli LLC, which will, on the closing date of the Acquisition, indirectly own the FLNG, Hilli Episeyo. The Acquired Interests represent the equivalent of  50% of the two liquefaction trains, out of a total of four, that have been contracted to Perenco Cameroon SA and Societe Nationale Des Hydrocarbures for an eight-year term. The purchase price for the Acquired Interests, as described below, is $658 million less net lease obligations under the financing facility for the Hilli that are expected to be between $468 and $480 million.

A joint development agreement between Delfin Midstream and Golar LNG Limited will see the two jointly develop the Delfin LNG project off the coast of Cameron Parish, La. The joint development agreement will facilitate the financing, marketing, construction, development and operation of Delfin LNG, the first and only permitted floating LNG (FLNG) export project in the U.S. Delfin LNG is a brownfield Deepwater Port requiring minimal additional infrastructure investment to support up to four FLNG vessels producing up to 13 million metric tons of LNG per annum. Delfin purchased the UTOS pipeline, the largest natural gas pipeline in the Gulf of Mexico, in 2014 and submitted its Deepwater Port license application in 2015.

Ophir Holdings & Ventures LTD ("Ophir"), a wholly owned subsidiary of Ophir Energy plc, and OneLNGSM, a joint venture between subsidiaries of Golar LNG Limited and Schlumberger, announce that they have signed a binding Shareholders' Agreement to establish a Joint Operating Company ("JOC") to develop the Fortuna project, in Block R, offshore Equatorial Guinea utilising Golar's FLNG technology. OneLNG and Ophir will have 66.2% and 33.8% ownership of the JOC respectively (with economic entitlements materially consistent with the equity interest in the JOC). The JOC will facilitate the financing, construction, development and operation of the integrated Fortuna project and, from Final Investment Decision ("FID"), will own Ophir's share of the Block R licence and the Gandria FLNG vessel.

Following last week's landmark referendum results, VesselsValue has compiled a list of the top five U.K.-based shipowners and their total fleet value in USD billions.

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. Stonepeak shares Golar's ambition to aggressively grow in the FSRU and LNG fueled power market and is committing $290 million in new equity to develop Golar Power. Stonepeak Senior Managing Director, Luke Taylor, commented…

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 the closing until the date that the Golar Tundra commences operations under its time charter with West Africa Gas Limited. In return, the Partnership will remit to Golar any hire income received with respect to the Golar Tundra during this period.

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 joint venture is developing an LNG import project at the port of Tema on the coast of Ghana West Africa with a planned start up in the second quarter of 2016. The FSRU will be moored inside the port at a new jetty being built by WAGL. The contract will be for an initial period of five years with the option for WAGL to extend for a further five years.

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%. Subject to an acceptable charter, Golar expects the facility amount and profile to increase. The facility also provides for the Tundra's eventual sale to Golar LNG Partners L.P. On the current…

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 LNG Limited has executed agreements for conversion of the 126,000 m3 LNG carrier Gandria to a Golar floating liquefaction facility (GoFLNG), the company announced today. As with the GoFLNG Hilli and Gimi conversions, the primary contract for the GoFLNG Gandria was entered into with Singapore's Keppel Shipyard Limited. The Gandria conversion contract marks the exercise of the second of two options that formed part of the initial 2014 Hilli conversion contract. Black & Veatch will provide its licensed PRICO technology, perform detailed engineering and process design, specify and procure topside equipment, and provide commissioning support for the GoFLNG topsides and liquefaction process.

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. The first phase enables Golar to drawdown up to $700 million from the facility to fund the ongoing conversion cost, once Golar has spent $400 million of the estimated $1.2 billion conversion cost and the tolling contract with Perenco and SNH have been ratified by the Cameroon government, expected during the third quarter of 2015.

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 first phase enables Golar to drawdown up to $700m from the facility to fund the ongoing conversion cost, once Golar has spent $400m of the estimated $1.2bn conversion cost and the tolling contract with Perenco and SNH have been ratified by the Cameroon government, expected during Q3 2015.