Idan Ofer buys more shares in CoolCo

A company controlled by Idan Ofer has purchased more shares in LNG carrier operator CoolCo, which it formed with Tor Olav Troim’s Golar LNG.

To remind, CoolCo said in April it had completed completed the purchase of all eight TFDE vessels from Golar as part of a deal revealed in December.

Ofer has the biggest stake in Oslo-listed CoolCo via EPS Ventures, a company affiliated with his Eastern Pacific Shipping and owned by Ofer’s Quantum Pacific Shipping.

According to statements by CoolCo, EPS Ventures increased its share in the LNG shipping firm from 37.59 percent on May 13 to 37.99 percent on June 17.

Prior to May 13, EPS Ventures had 15,000,000 shares, and after eight separate transactions the firm now owns 15,199,264 of CoolCo’s shares.

For the latest transaction on June 17, EPS Ventures paid 87.42 Norwegian Krone ($8.85) per share for 98,766 shares.

CoolCo’s data shows that Golar has 12,510,000 shares in the company, representing 31.2 percent of all shares in issue.

Besides owning eight TFDE LNG carriers, CoolCo manages a fleet of 20 vessels.

These include the four LNG carrier EPS bought earlier this year from the Dutch ING bank, and seven other LNG carriers and nine FSRUs, mainly owned by US LNG player New Fortress Energy.

Most Popular

Venture Global, Petronas seal 20-year LNG SPA

US LNG exporter Venture Global LNG has signed a 20-year LNG supply contract with Malaysian energy giant Petronas for volumes from the CP2 project in Louisiana.

Golden Pass LNG seeks re-export approval

Golden Pass LNG, a joint venture owned by energy giants QatarEnergy and ExxonMobil, is seeking approval from the US DOE to export previously imported LNG from October, as it nears the launch of the first liquefaction train.

TPDC, Energetech Tantel to develop Tanzanian small-scale LNG plant

State-run Tanzania Petroleum Development Corporation has signed a memorandum of understanding with Energetech Tantel to develop what they say is Tanzania's first small-scale LNG plant.

More News Like This

EPS welcomes new LNG-powered PCTC in its fleet

Singapore’s Eastern Pacific Shipping took delivery of another LNG-powered pure car and truck carrier in China.

Golar LNG wraps up $575 million senior notes offering

Last week, Golar revealed that it intends to offer, subject to market and other conditions, $500 million aggregate principal...

Golar LNG in $500 million senior notes offering

Floating LNG player Golar LNG aims to raise about $500 million via an offering of convertible senior notes due 2030.

Golar progresses FLNG growth plans

Golar LNG said it had signed a final engineering study to confirm EPC price and delivery for a 5 mtpa MKIII FLNG.