Stolt-Nielsen and Golar LNG jointly announced the formation of a 50/50 joint venture to pursue opportunities in small-scale LNG production and distribution.
Stolt-Nielsen has made a strategic investment in Golar LNG through open-market purchases, representing an ownership stake of approximately 2.3% in the company.
"A key element of Stolt-Nielsen's long-term strategy is diversification that leverages our core skillsets, including shipping, storage and distribution,” said Niels G. Stolt-Nielsen, CEO of Stolt-Nielsen. “We targeted LNG as a growth market and entered into small-scale LNG liquefaction and logistics services in 2014, through our joint venture Stolt LNGaz. 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.”
Golar LNG is one of the world's largest independent owners and operators of LNG carriers. Golar developed the first floating storage and regasification units (FSRU), based on conversions of existing LNG carriers, and more recently moved upstream with the introduction of its floating liquefaction project (GoFLNG).
Image: LNG transportation/Golar LNG
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