GOLAR LNG AND PTTEP ANNOUNCE AGREEMENT TO JOINTLY DEVELOP AUSTRALIAN
FLNG OPPORTUNITY>
GOLAR LNG AND PTTEP ANNOUNCE AGREEMENT TO JOINTLY DEVELOP AUSTRALIAN FLNG OPPORTUNITY
(Thomson Reuters ONE) - Further to the Golar LNG ("Golar") announcement in August 2008 of theMOU signed between Golar and PTT Exploration and Production PublicCompany Limited ("PTTEP") of Thailand covering the joint developmentof Floating LNG (FLNG) opportunities, Golar is very pleased to advisethat it has signed an agreement with PTTEP to jointly enter intoFront End Engineering and Design (FEED) studies for the proposedAustralian FLNG project located in North West Australia.Agreement in principle has also been reached on the commercialstructuring of the Australian FLNG project which provides for Golarto participate in the gas value chain on a 50:50 basis with PTTEP. Itis intended that Golar will farm into the gas reserves held by PTTEPresulting from its recent acquisition of Coogee Resources Limited.Golar Management's CEO, Gary Smith commented "in line with theintention signaled last year when signing our MOU with PTTEP, bothcompanies have moved quickly and decisively toward establishing acredible, attractive and aligned FLNG business. We are extremelypleased to be working with PTTEP in the area of FLNG and see the verymaterial progress made over the past year as building a solidfoundation for future growth. PTTEP has a clear strategy to expandits E&P business internationally and brings to the partnership strongcapabilities that are complementary to Golar's floating mid-streamcapability."Mr. Smith went on to say, "Progress made in the area of FLNGannounced today, our growing portfolio of floating storage andregasification projects, the development of the Gladstone Fisherman'sLanding LNG project and new opportunities establishes Golar as aclear innovator and leader in developing profitable mid-stream LNGsolutions."Golar recently announced that it intended to restructure the Companyto form a subsidiary company that will be focused on projectdevelopment, both FSRU projects and liquefaction projects. Thedevelopment of this FLNG opportunity will clearly form an importantpart of this new Company. In due course the new Company will likelyraise additional capital and will seek a separate listing. We seegreat opportunities for Golar to play an important part in developingthe LNG market by providing new technology and flexible mid streamsolutions to meet the needs of our close customers. Such adevelopment should be highly beneficial for Golar's shareholders.PTTEP is a national petroleum exploration and production companydedicated to providing a sustainable petroleum supply to Thailand andin the countries they operate. A top-ten publicly-listed company inthe Stock Exchange of Thailand, PTTEP operates more than 40 projectsaround the world and has a workforce of over 2,000. PTTEP commits todeveloping natural resources while preserving environment, promotingeducation and assimilating to the countries' society where weoperate. PTTEP agreed to acquire Australian producer Coogee ResourcesLimited in a cash transaction concluded in February 2009. Sincethen, the company name was changed from Coogee Resources Limited andis now known as PTTEP Australasia Pty Ltd, a subsidiary of PTTEPbased in Western Australia and engages in investment in, anddevelopment of, oil and gas exploration and production assets inAustralia.Golar LNG is a leading independent owner and operator of LNG ships,providing both traditional LNG transportation services and morerecently floating storage and regasification unit (FSRU) solutions.Golar's demonstrated ability to deliver FSRU's against a wide rangeof functional requirements has provided a strong basis on which tobuild a FLNG business. The move into FLNG is consistent with thecompanies stated strategy of developing a comprehensive mid streambusiness and should over time further strengthen the company andprovide significant upside to shareholders.July 9, 2009Golar LNG LimitedHamilton, BermudaQuestions should be directed to:Golar Management Ltd - +44 207 063 7900:Gary Smith: Chief Executive OfficerGraham Robjohns: Chief Financial OfficerThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Bereitgestellt von Benutzer: hugin
" alt="Rule 8.3 AXA IM UK LTD: Venture Production Plc>">
" alt="Rule 8.3>">Datum: 09.07.2009 - 11:01 Uhr
Sprache: Deutsch
News-ID 3397
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 284 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"GOLAR LNG AND PTTEP ANNOUNCE AGREEMENT TO JOINTLY DEVELOP AUSTRALIAN
FLNG OPPORTUNITY>"
steht unter der journalistisch-redaktionellen Verantwortung von
Golar LNG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
