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Stolt-Nielsen and Golar LNG team up on small scale LNG

Stolt-Nielsen Limited and Golar LNG today announced that they have entered into a joint venture to produce and distribute small-scale LNG.

The 50/50 jv will utilise small scale and logistics assets from Stolt-Nielsen and Golar's midstream FSRU and FLNG assets. Stolt Nielsen has bought a 2.3% stake in Golar on the open market.

Niels Stolt-Nielsen, ceo of Stolt-Nielsen , commented: "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."

Golar management ceo Gary Smith, added: "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."

Posted 11 June 2015

© Copyright 2019 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

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