LNG

Feb 21 (LNGJ) - Sevan Marine, the Norwegian engineering services company, reported fourth-quarter revenue from operations of $2.2 million as it continued to support two floating production, storage and offloading (FPSO) developments for the UK Continental Shelf, one cylindrical floating LNG project for a US major and delivered engineering support for the Goliat project in the Barents Sea. “The company is in a solid financial position, with a net cash position of $24.8M and an equity ratio of 60 percent,” Sevan said. It also received notification in January of TechnipFMC’s intention to exercise an option to buy Sevan’s 51 percent shareholding in Kanfa AS.