Golar to sell eight LNG carriers to new JV

Golar LNG chief executive Karl Fredrik Staubo said the transaction will allow Golar to separate its shipping business and simplify its corporate structure, while focusing on its FLNG business.

Mr Staubo said, "We are encouraged by the strong underlying market fundamentals for LNG carriers. The Cool Company transaction will allow Golar to separate its shipping businesses and simplify its corporate structure, while maintaining significant and attractive exposure to the LNG carrier business.”

EPS chief executive Cyril Ducau said, “EPS is pleased to be adding LNG shipping to our diverse shipping portfolio.”

“Golar’s solid track record, mature platform, and like-minded vision made this investment an easy decision. As a provider of dual-fuel LNG tonnage across all our segments, EPS looks forward to taking a leading role in making CoolCo a world-class leader in LNG shipping, combining our complementary skills and expertise with Golar’s.”

Golar, Norway’s Awilco and Greece-based TMS Cardiff Gas had previously attempted to launch a 16-vessel fleet called the Cool Company aimed at consolidation in 2018, but the move fell through.