LNG

Sembcorp Marine of Singapore has completed the acquisition of the intellectual property rights of Oslo-listed Sevan Marine for US$39 million, including the Sevan subsidiary HiLoad LNG and in an additional purchase has bought the outstanding 5 percent of HiLoad held by a minority shareholder.

Sevan Marine, the Norwegian engineering and project company for offshore production units, posted another net loss as a feasibility study was continuing for a floating liquefied natural gas field development with a US oil major company.