LNG

Golar LNG Ltd shares surged over the weekend as the company entered a definitive agreements with Pan American Energy (PAE) for a 20-year deployment of one of its floating LNG production units in Argentina to tap the vast resources of the Vaca Muerta Shale.

Golar LNG Ltd, the shipping company with a small but growing fleet of floating liquefied natural gas production and project vessels including the “Hilli Episeyo” offshore Cameroon and the “FLNG Gimi” for offshore Mauritania and Senegal, has signed another FLNG accord, this time with Nigeria.

Golar LNG Ltd, the shipping company now specialising in a small but growing fleet of floating LNG project vessels, reported first-quarter net losses as it maintained “strong engagement with prospective FLNG” clients, including signing an accord with Nigeria National Petroleum Corp. (NNPC) for offshore liquefaction projects.

New Fortress Energy (NFE), the US LNG-for-power project developer has reached an agreement with shipping company Golar LNG for the sale of NFE’s ownership stake in a floating LNG production hull deployed off Cameroon in West Africa.

Golar LNG, the shipping company now specialising in a small but growing fleet of floating LNG project vessels, increased revenues as well as net profits due to one-items while forecasting future high revenues from floating liquefaction and FLNG terminal projects as it also spun off eight modern carriers to a joint venture.

May 14 (LNGJ) - Golar LNG Ltd named Karl Fredrik Staubo as the new Chief Executive. Staubo had since May 2020 been the CEO of Golar LNG Partners LP, recently sold to New Fortress Energy. Previous Golar LNG Ltd CEO Iain Ross resigned after nearly four years with the Norwegian-founded LNG shipping and projects company as it was completing the sell-off of assets to New York-based firm New Fortress.

   “Staubo has a broad shipping-energy background from Clarksons Platou Securities and Magni Partners,” said a statement. Eduardo Maranhao was named as Golar LNG Ltd’s Chief Financial Officer. “Through the company’s strong strategic positions through the LNG value chain, including upstream, midstream, and downstream, Golar is well positioned to take an active part in the ongoing energy transition with the target to deliver cheaper and cleaner energy,” stated Golar Chairman Tor Olav Troim.

Golar LNG, the carrier fleet owner, has announced key executive changes at two of its operating companies involving chief financial officer and chief executive positions.

Golf said that after almost 20 years of service with the Golar group Graham Robjohns had decided to step down from his position as Chief Financial Officer at Golar LNG Ltd.

“In order to facilitate a smooth transition, Robjohns will remain in his current position until April 30, 2020 while the search for his replacement proceeds,” said Golar.

Golar said that Robjohns would in the next six months as CEO for the Golar partnership be given a special task to look at structural opportunities to optimize the value of the assets and the large order backlog.

Additionally, Golar LNG Partners said that with immediate effect Brian Tienzo would step down as CEO of Golar Partners and will focus full time on Golar group financings.

Robjohns will take on the role of Golar Partners CEO until April 30, 2020 while the search for a permanent replacement proceeds.

“The journey with Golar from a small LNG shipping company with six ships to where we are today has been exciting, interesting, challenging and fun in equal measure,” said Robjohns.

“Golar has a wonderful team of highly talented people and the opportunities to create a very successful next chapter for Golar,” he added.

“After 20 years however, I feel the time is now right for change and for me to seek new challenges outside of Golar. I wish the company well and look forward to seeing it flourish,” he stated.

Chairman of Golar LNG Partners, Olav Troim, said Robjohns had been a very important part of the management team since Golar LNG was first listed on the stock exchange in 2000.

“He has had several key management positions in the group and has always worked extremely hard and delivered superior and diligent services to the group,” added Troim.


“These services have been critical in the transformation of Golar from an LNG shipping company to today’s LNG infrastructure company,” Troim concluded.

Golar Partners also announces that it had appointed Ms. Georgina Sousa as a replacement for Michael Ashford as one of the General Partner’s three appointed directors.

Ashford is also retiring as Company Secretary and will be replaced by Sousa.

“The Board wishes Michael well in his retirement and thanks him for his service to the company,” it said.

Sept 21 (LNGJ) - Golar LNG Ltd said it had replaced Chief Executive Oscar Spieler with a new CEO, named as Iain Ross, formerly with Australian engineering company WorleyParsons. Golar said Spieler’s “main remit” on becoming CEO had always been the delivery of the Cameroon floating LNG project vessel to be deployed offshore the West African nation and this has now been done.  “Having substantially executed his responsibility to deliver the FLNG ‘Hilli Episeyo’, Oscar will nevertheless remain with the group and fulfil the role of Executive Advisor,” said Golar. “With 34 years of broad industry and geographic experience and a focus on sustainable growth of businesses, Iain brings to Golar a strong leadership skill set,” the company added.