Golar LNG Bags New Long-term FSRU Contract
Golar LNG Partners announced that it has executed a 15-year charter with an energy and logistics company for the provision of an FSRU (floating storage and regasification unit) and related services in the Atlantic Basin. The charter provides the Partnership with the flexibility to nominate either the Golar Spirit or the Golar Freeze to service the contract provided that the nominated FSRU satisfies certain technical specifications ahead of project start-up, which is expected in the fourth quarter of 2018.
Golar LNG to Reveal Q3 2006 Results
Golar's 3rd Quarter 2006 results will be released Monday, November 20th 2006. In connection with this a webcast presentation will be held at 03.00 P.M (London Time) followed by Q&A session. The presentation will be available to download from the Investor Relations section at www.golarlng.com
Golar LNG Q1 Results 2011
Golar secures charters for its 4 modern vessels of between 12 and 18 months. 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. Golar LNG Limited ("Golar" or the "Company") reports…
Wärtsilä to Provide TMA for Golar Fleet
Wärtsilä signed a 5-year Technical Management Agreement with Golar Management Oslo for delivery of services to Golar LNG - one of the largest independent owners and operators of liquefied natural gas (LNG) carriers in the world. The service agreement includes remote monitoring of engines, maintenance planning, advisory services, and guaranteed availability of personnel as well as spare parts. Golar LNG operates a fleet of 13 vessels, dedicated to both LNG transportation and midstream floating solutions.
Acquisition of Golar LNG Energy Limited
Reference is made to announcement dated on June 3, 2011 where Golar LNG Limited ("Golar LNG") informed of its intent to exercise its right under Bermuda company law to compulsorily acquire all remaining outstanding shares in Golar LNG Energy Limited ("Golar Energy") and the notice of compulsory acquisition ("tvangsinnløsning") dated June 3, 2011 that was sent out to remaining shareholders in Golar Energy. Golar LNG hereby informs that the compulsory acquisition will be completed at NOK 26.80 per share. The last day for trading the shares on Oslo Børs will be June 29, 2011. On July 4, 2011 the remaining outstanding shares will be acquired by Golar LNG. Settlement through VPS is expected to take place on July 8, 2011.
Keppel to Sign Golar LNG Conversion Contract
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 Floating LNG (FLNG) vessels. This term sheet agreement requires Keppel Shipyard to start with a Front-End Engineering and Design (FEED) study to confirm the engineering and work scope. Upon completion of the FEED study, Keppel Shipyard will then proceed to work with Golar LNG on the conversion and engineering of the first of the three FLNG vessels. There will be an option to convert the other two FLNG vessels at a later date.
Golar NNG Sells Vessel
Reuters notes that Norwegian liquid gas tanker group Golar LNG has agreed to sell its Golar Frost vessel for about $231 million to a part-owned project that is building a gas terminal at Livorno on the Italian coast.Golar LNG has a 16 percent stake in the project company OLT Offshore LNG Toscana S.p.a., which is building a liquid natural gas terminal (LNG) and is the buyer of the vessel. The vessel is on charter until March 2008, and all income from the vessel will be to Golar LNG's benefit until the sale is completed in June.
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 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.
Ince & Co Advises on Floating Storage and Regasification Unit
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 replacement for high speed diesel.
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. ABS Group will provide a model for asset data, criticality rankings, spare parts analysis, a risk-based inspection strategy, failure mode and effects analysis and a maintenance program for the first GoFLNG facility under construction, the Hilli, which will operate off the coast of Cameroon, as well as for future vessels.
Golar LNG to Appoint Sir Frank Chapman as Chairman
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 Limited is listed on the NASDAQ Stock Market.
Wärtsilä and Golar LNG Signs Major Contract
Wärtsilä has signed a five-year maintenance agreement with Golar Management Oslo for the delivery of services to Golar LNG, which is one of the world's largest independent owners and operators of LNG tankers. Service agreement includes remote monitoring of engines, maintenance planning, advisory services as well as guaranteed access to personnel and spare parts, Wärtsilä said in a statement. Golar's thirteen LNG carriers and Floating Storage and Regasification Units (FSRU's are all equipped with Wärtsilä engines— 52 engines, in all.
Golar LNG Signs Deal for 4 LNG Ships
Golar LNG Limited is pleased to announce that it has entered into a firm contract to build four 160,000 m3 LNG carrriers with the Korean shipbuilder Samsung Heavy Industries Co Ltd ("Samsung"). The newbuilding contracts were originally entered into by Companies affiliated with Golar's largest shareholder World Shipholding. Golar has acquired the newbuilding contracts from the affiliated party based on the original contracting terms. Three vessels are to be delivered in 2013 and one in early 2014. The total cost of the four vessels is approximately $800 million.
Golar LNG Appoints Iain Ross as CEO
Shipping company Golar LNG Ltd said it has appointed Iain Ross as its new chief executive. Ross succeeds Oscar Spieler, who was appointed as CEO last year after having previously led the company between July 2009 and June 2011. Spieler was in charge of the company's FLNG Hilli Episeyo project and is leaving after its delivery, but would remain with the group as executive adviser, the company said in a statement. Ross has joined Golar from project delivery company WorleyParsons Ltd, Golar LNG said. Reporting by Kanishka Singh
Golar Mulls Third FLNG deal
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.
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), Keppel O&M, said, "We are happy that Golar LNG is proceeding with their second FLNGV conversion, and would like to thank them for once again entrusting Keppel Shipyard as their lead contractor of choice. This second contract comes just six months after the first contract, and we are encouraged by this positive development.
Golar LNG Sells Newbuild
Golar LNG announced an agreement to sell its existing interest in new building DSME hull number 2244 to Maran Gas for $92.5m, this represents an implicit vessel price of $201 million. Golar estimates that its book cost of investment in this vessel at completion of the sale will be approximately $51.5 million and this transaction therefore represents a significant return on investment for shareholders.
Golar LNG Limited Enters Joint Venture Agreement
Golar LNG Limited signed a share purchase agreement with OLT Energy Toscana SpA in November 2006 for the acquisition of 20% of shares in OLT Offshore LNG Toscana SpA (OLT-O). The purpose of the joint venture company OLT-O is the construction of the Livorno offshore LNG import and regasification terminal, which will be located approximately 20 kilometers off the coast. Source: CCN
Stolt-Nielsen, Golar LNG Form Joint Venture
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 Redesigns Ship Management with BASSnet
Following a comprehensive exercise to insource all ship management functions and to build a fully integrated shipping company, Golar LNG recently chose the BASSnet software as the core building block for the management of its fleet of 23 LNG carriers. Based in Oslo, Golar Management – the ship management unit of Golar LNG – has joined other shipping industry leaders, such as Stolt Tankers, Anthony Veder, NYK, “K” Line, Wallenius, Hapag Lloyd, Wilhelmsen and CMA CGM, in the BASSnetTM customer community.
Golar LNG Signs Shareholder Agreement for Livorno Project
Golar LNG Limited is announced that its subsidiary, Golar Offshore Toscana Limited has signed a share purchase agreement with OLT Energy Toscana SpA for the acquisition of 20% of the shares in OLT Offshore LNG Toscana S.p.A. The new LNG terminal, which earlier this year was granted a government decree approving or permitting the project, will have a regulated capacity of 3.75 Bcm/year. The terminal will be located 20 km out to sea off the Livorno coast; away from populated areas creating substantial environmental and security benefits and significantly reducing visual impact. Included in the deal is an intention between the parties to sell the LNG carrier Golar Frost to OLT-O.
Golar LNG Increases Ownership in Korea Line
Golar LNG has in a filing to Korea Stock Exchange today March 9th stated that they through market purchases have increased their ownership in Korea Line from 9.9% to 14.6% of the share capital.
Golar LNG Raises $51M
Golar LNG has completed a directed equity offering of 4,000,000 shares mainly towards international institutional investors. The equity offering was significantly oversubscribed. The subscription price is NOK 88 per share, and the issue will give net proceeds of approximately USD 51 million. The company's share capital will after the registration of the share issue consist of 65,612,000 shares, each at a par value of USD 1.00. The managers of the directed issue were Enskilda Securities and Fearnley Fonds. The capital that has been raised will be dedicated to future growth of the business. Golar LNG maintains its expectations for the 2003 results, in line with what has previously been communicated to the market.