Contracts and TendersEurope

CoolCo takes two more LNG tankers from Golar

By LNG Prime Staff
CoolCo takes two more LNG tankers from Golar
For illustration only (Image: CoolCo)

LNG carrier operator CoolCo, formed by Tor Olav Troim-led Golar LNG and Idan Ofer’s Eastern Pacific Shipping, bought two more LNG carriers from Golar.

CoolCo said in a statement on Monday that it had completed the purchase of the fifth and the sixth out of eight LNG carriers from Golar as part of the deal revealed in December last year.

The LNG carriers in question are the 2015-built, 160,000-cbm Golar Snow and the 2014-built, 162,000-cbm Golar Glacier.

According to CoolCo, the purchase price for both of the vessels was financed by a drawing under CoolCo’s senior secured bank facility and a cash payment to Golar.

The deals also include the subscription by Golar of 3.12 million new common shares of $1.00 par value in CoolCo at a subscription price of $10.00.

There are now 36,885,000 shares in issue in CoolCo, each of which represents one vote in the company.

CoolCo recently appointed Hoegh LNG’s Richard Tyrrell as its chief executive officer.

Besides Tyrrell, CoolCo also appointed Johannes (John) Boots as chief financial officer, and Sarah Choudhry as general counsel.

EPS is the largest shareholder of CoolCo with a 38 percent stake, Golar owns 31 percent in the new LNG shipping venture, while public investors hold the rest.

Most Popular

Contracts and Tenders

Venture Global seals new deals to support expansion of its power network

US LNG exporter Venture Global has entered into power and grid frame agreements with GE Vernova and Baker Hughes for up to 16 new, 720 MW power island units and associated power transformer equipment, supporting the continued expansion of its existing behind-the-meter, industrial power network that is not reliant on the grid.
LNG Terminals

Venture Global gets approval to place first Plaquemines LNG phase in service

Venture Global’s Plaquemines LNG has secured approval from the US FERC to place Phase 1 of its LNG export plant in Louisiana into service.
Vessels

UKMTO reports LNG carrier incident off Yemen

The United Kingdom Maritime Trade Operations (UKMTO) Center said it received a report of an incident off Yemen involving a liquefied natural gas (LNG) carrier and a small skiff.

More News Like This

Vessels

Golar buys conversion vessel for fourth FLNG

Floating LNG player Golar has agreed to acquire the LNG carrier Grace Dahlia from Japan's NYK Line to convert it into a floating LNG production unit.
LNG as Fuel

EPS, Suardiaz strengthen ties with delivery of LNG-powered PCTC

Singapore's Eastern Pacific Shipping and Spanish logistics and shipping group Suardiaz have strengthened their longstanding partnership with the delivery of the LNG dual-fuel PCTC RS Atlantico.with the delivery of the LNG dual-fuel PCTC RS Atlantico.
Corporate

Golar to raise $500 million via notes offering

Floating LNG player Golar LNG expects to close a $500 million senior notes offering in October.
LNG as Fuel

EPS wraps up 700th STS LNG bunkering op

Singapore’s Eastern Pacific Shipping has completed its 700th ship-to-ship LNG bunkering operation as the company’s fleet of LNG-fueled vessels continues to expand.