June 12, 2015 [Energy Business Review] - Stolt-Nielsen has signed a 50/50 joint venture deal with Golar LNG to develop small-scale LNG projects.
Stolt-Nielsen has acquired approximately 2.3% stake in Golar LNG through open-market purchases.
Stolt-Nielsen CEO Niels Stolt-Nielsen said: “A key element of Stolt-Nielsen’s long-term strategy is diversification that leverages our core skillsets, including shipping, storage and distribution.
“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.”
The company has started small-scale LNG liquefaction and logistics services in 2014 through joint venture Stolt LNGaz, targeting LNG.
Golar Management CEO Gary Smith said: “We look forward to working with Stolt-Nielsen to continue to expand the reach of LNG to a wider array of smaller potential customers.”
Golar LNG developed the first floating storage and re-gasification unit (FSRU) by converting existing LNG carriers, and has recently introduced its floating liquefaction project (GoFLNG).
