Golar and Stolt-Nielsen Limited to Jointly Explore Developments within Small-Scale LNG Production and Distribution
(Thomson Reuters ONE) -
Golar LNG ("Golar") announced today the formation of a 50/50 joint venture with
Stolt-Nielsen Limited to pursue opportunities in small-scale LNG production and
distribution. Stolt-Nielsen has also made a strategic investment in Golar
through open market purchases, representing an ownership stake of approximately
2.3%.
The joint venture between Golar and Stolt-Nielsen will draw upon the logistics
and small-scale LNG assets controlled by Stolt-Nielsen and the ocean-based LNG
midstream assets controlled by Golar to provide a fully integrated LNG logistics
service to consumers of natural gas.
CEO of Golar Management Gary Smith commented "As Golar continues to expand
throughout the midstream LNG value chain we are excited to have a world class
specialty shipping and terminal company like Stolt-Nielsen as a strategic
investor and partner. Stolt-Nielsen's core strengths in logistics and
distribution are an excellent fit with Golar's midscale LNG focus. We look
forward to working with Stolt-Nielsen to continue to expand the reach of LNG to
a wider array of smaller potential customers"
Commenting on the investment, Niels G. Stolt-Nielsen, Chief Executive Officer 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. We targeted LNG as a growth market and
entered into small-scale LNG liquefaction and logistics services in 2014,
through our joint venture Stolt LNGaz. With our investment in Golar LNG we aim
to develop further opportunities in the LNG space, targeting onwards
distribution to off-the-grid customers, supported by Golar's midstream ocean-
based system. We are pleased to have the opportunity to participate with Golar
in satisfying this unique and growing demand."
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements (as defined in Section
21E of the Securities Exchange Act of 1934, as amended) which reflects
management's current expectations, estimates and projections about its
operations. All statements, other than statements of historical facts, that
address activities and events that will, should, could or may occur in the
future are forward-looking statements. Words such as "may," "could," "should,"
"would," "expect," "plan," "anticipate," "intend," "forecast," "believe,"
"estimate," "predict," "propose," "potential," "continue," or the negative of
these terms and similar expressions are intended to identify such forward-
looking statements. These statements are not guarantees of future performance
and are subject to certain risks, uncertainties and other factors, some of which
are beyond our control and are difficult to predict. Therefore, actual outcomes
and results may differ materially from what is expressed or forecasted in such
forward-looking statements. You should not place undue reliance on these
forward-looking statements, which speak only as of the date of this press
release. Unless legally required, Golar undertakes no obligation to update
publicly any forward-looking statements whether as a result of new information,
future events or otherwise.
Among the important factors that could cause actual results to differ materially
from those in the forward-looking statements are: changes in LNG, FSRU and
FLNGV market trends, including charter rates, ship values and technological
advancements; changes in the supply and demand for LNG; changes in trading
patterns that affect the opportunities for the profitable operation of LNG
carriers, FSRUs; and FLNGVs; changes in Golar's ability to retrofit vessels as
FSRUs and FLNGVs, Golar's ability to obtain financing for such retrofitting on
acceptable terms or at all and the timing of the delivery and acceptance of such
retrofitted vessels; increases in costs; changes in the availability of vessels
to purchase, the time it takes to construct new vessels, or the vessels' useful
lives; changes in the ability of Golar to obtain additional financing; changes
in Golar's relationships with major chartering parties; changes in Golar's
ability to sell vessels to Golar LNG Partners LP; Golar's ability to integrate
and realize the benefits of acquisitions; changes in rules and regulations
applicable to LNG carriers, FSRUs and FLNGVs; changes in domestic and
international political conditions, particularly where Golar operates; as well
as other factors discussed in Golar's most recent Form 20-F filed with the
Securities and Exchange Commission. Unpredictable or unknown factors also could
have material adverse effects on forward-looking statements.
Hamilton, Bermuda
June 11, 2015
Enquiries:
Golar Management Limited: + 44 207 063 7900
Brian Tienzo
Stuart Buchanan
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Golar LNG via GlobeNewswire
[HUG#1927712]
Unternehmensinformation / Kurzprofil:
Datum: 11.06.2015 - 08:45 Uhr
Sprache: Deutsch
News-ID 399723
Anzahl Zeichen: 6070
contact information:
Town:
Hamilton
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 141 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Golar and Stolt-Nielsen Limited to Jointly Explore Developments within Small-Scale LNG Production and Distribution"
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).
