Golar

Golar LNG Eyes Shipping Spin-Off as Upstream Emphasis Grows

Golar LNG Eyes Shipping Spin-Off as Upstream Emphasis Grows

Bermuda-based liquefied natural gas (LNG) specialist Golar LNG Ltd. may spin off its shipping unit amid a positive outlook for freight rates. CEO Karl Fredrik Staubo said recently strong demand in Asia, along with new International Maritime Organization decarbonization rules that would cut the number of active older LNG carriers starting in 2023, is likely…

August 13, 2021
Flex, Golar and Teekay See Profits Rising as LNG Shipping Market Tightens

Flex, Golar and Teekay See Profits Rising as LNG Shipping Market Tightens

A trio of international liquefied natural gas (LNG) shippers saw improved financials in the first quarter as demand grew and prices strengthened. Flex LNG Ltd., Teekay LNG Partners LP and Golar LNG Ltd. reported stronger demand for time charters as spot prices in Asia shot up in January and the cooldown in February was short-lived,…

May 25, 2021
New Fortress Gains Foothold in Brazil, Adds LNG Shipping in $5B Acquisition

New Fortress Gains Foothold in Brazil, Adds LNG Shipping in $5B Acquisition

New Fortress Energy Inc. said Wednesday it is acquiring Golar LNG Partners LP (GMLP) and Hygo Energy Transition Ltd. in a deal valued at $5 billion that expands operations in Latin America and provides liquefied natural gas (LNG) shipping assets.  Hygo is a 50-50 joint venture between Golar LNG Ltd. and a fund managed by…

January 13, 2021
Golar Affiliate Files for IPO to Buildout LNG Import Infrastructure

Golar Affiliate Files for IPO to Buildout LNG Import Infrastructure

Golar LNG Ltd. said a joint venture it formed with New York City-based Stonepeak Infrastructure Partners has filed for an initial public offering with the U.S. Securities and Exchange Commission (SEC) to better build out import terminals and downstream natural gas assets across the world.   Hygo Energy Transition Ltd., formerly known as Golar Power Ltd.,…

September 1, 2020
LNG Carriers See Tough Year Ahead on ‘Unprecedented Demand Destruction’

LNG Carriers See Tough Year Ahead on ‘Unprecedented Demand Destruction’

Liquefied natural gas (LNG) shipowners that recently capped off first quarter earnings season see a grim outlook for most of 2020 as global supplies teem, prices have cratered and demand wavers.

June 3, 2020
LNG Tanker Owners Launch Pooling Effort

LNG Tanker Owners Launch Pooling Effort

A trio of liquefied natural gas (LNG) carrier owners has formed a pool through which their vessels operating in the spot market will be contracted for charters of up to 12 months. The idea is to lower costs and improve contracting efficiencies, a representative of one of the participating companies told NGI.

August 19, 2015