Gary Smith News

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.

Keppel Shipyard has signed its third contract with Golar Gandria for vessel conversion works. The $684 million contract to convert a liquefied natural gas (LNG) carrier to a floating liquefaction facility (FLNG) with the subsidiary of United Kingdom-based Golar LNG will become effective by Sep 21, said Keppel. The contract will become effective upon the parties fulfilling certain conditions precedent by 21 September 2015. The award of the conversion of the Gandria marks the exercise of the second of two options, which were part of a contract awarded by Golar to Keppel Shipyard for the conversion of the Moss LNG carrier, HILLI, into a GoFLNG facility. The first option was exercised in December 2014 for the conversion of the GIMI, also a Moss type LNG carrier.

Golar LNG Limited inform that with regards the signing of a Heads of Agreement with Societe Nationale de Hydrocarbures ("SNH") and Perenco Cameroon ("Perenco") for the development of a floating liquefied natural gas export project in Cameroon that took place on 24 December 2014 an agreement has now been reached with the support of the Boards of both Golar and Perenco on the material commercial terms and conditions for the project. The Tolling Agreement which defines the material commercial terms and conditions for the project is now subject to finalisation with SNH and government approval. Similarly, the Midstream Gas Convention setting…

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. Stolt-Nielsen, CEO of Stolt-Nielsen Limited, said, "A key element of Stolt-Nielsen's long-term strategy is diversification that leverages our core skillsets, including shipping, storage and distribution.

Golar LNG has signed a binding Heads of Terms with Ophir Energy Plc for the provision of the GoFLNG vessel Gimi. Golar has started discussions with partners Keppel and Black & Veatch aimed at exercising an option, under an existing framework agreement, for the ordering of a third GoFLNG unit similar to the Hilli and the Gimi. The vessel will replace the previously announced floating liquefaction storage and offloading (FLSO) that would have been supplied by Houston-based Excelerate Energy. The Heads of Terms has been approved by Ophir's Equatorial Guinea, Block-R upstream partner GEPetrol, and will shortly be formally ratified. The agreement will be structured as a 20-year tolling contract, commencing commercial operations in the first half of 2019.

Golar LNG Ltd has completed the sale and delivery of the LNG carrier Golar Viking to PT Perusahaan Pelayaran Equinox (Equinox) for US$135 million. The 140,205-cbm Golar Viking (built 2005) has been renamed Salju under Indonesian flag and registry. Under Indonesian Cabotage regulations, LNG cargoes produced and sold within Indonesia must be transported on an Indonesian flagged vessel. Equinox decided to acquire the Golar Viking and transfer the vessel to Indonesian flag due to an anticipated increase in domestic allocation for Indonesian produced LNG cargoes this year. The technical specification of Golar Viking, now renamed Salju, is well suited for the short haul nature of the domestic Indonesian trade.

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's 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.

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.

The 3,800-ton Alaska Region Research Vessel (ARRV) R/V Sikuliaq was launched on Oct. 13, 2012, at Marinette Marine in Marinette, Wis. Sikuliaq (pronounced see-KOO-lee-ack) will be operated by the University of Alaska Fairbanks (UAF) School of Fisheries and Ocean Sciences for the National Science Foundation as part of the University-National Oceanographic Laboratory System (UNOLS) fleet. The 261-foot global class ice-capable research vessel R/V Sikuliaq was designed by Glosten Associates. "R/V Sikuliaq is one of the most advanced research vessels in the world," said NSF Director Subra Suresh.

BMT Fleet Technology Ltd, a subsidiary of BMT Group Ltd, the leading international maritime design, engineering and risk management consultancy, is pleased to announce the appointment of Dr Gordon Fleming as President. A former Canadian Naval Officer, Gordon has over 30 years of experience in the aerospace and defence industry with a focus on the naval marketplace. He holds a BSc from Royal Roads Military College as well as an MSc and a PhD in Physical Oceanography from the United States Naval Post-Graduate School.

Derecktor Shipyards won the contract for the construction of the first two passenger /vehicle high-speed ferries for the State of Alaska's Marine Highway System. The NGA design presented by Derecktor competed in a bid race that lasted several months and ended with the notice of intent to award going to Derecktor Shipyards. This project, funded by the Federal Government, allows the State of Alaska to link Sitka to Juneau with fast modern boats, capable of a one-day round trip. The Alaska Marine Highway System has been operating year-round since 1963, with regularly scheduled passenger and vehicle service to 32 communities in Alaska. It carries more than 300,000 passengers every year. The new boats are designed by Nigel Gee and Associates (NGA) Ltd.

When Austal Ltd. of Henderson, Western Australia, started looking last year for a CEO to lead its U.S.-based operations, the job description must have been daunting. They wanted a leader to take the helm of their newly built shipyard in Mobile, Ala., and turn it into a major contractor for both military and commercial vessels in the United States. Austal had recently entered the U.S. market for the first time, intent on competing with higher-profile rivals such as Incat/Bollinger, Derecktor Shipyards and Kvaerner. The company settled on Alan Lerchbacker, 50, an energetic former Navy Aquanaut with a business background, who took the position in February 2002. Lerchbacker had never heard of Austal until a headhunter contacted him.