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

TotalEnergies CEO expects US financing for Mozambique LNG to be approved in weeks

In May 2020, EXIM voted to amend the agency's previously approved September 2019 direct loan supporting US exports for...

Greek and German firms place orders for LNG-powered vessels in China and Korea

Reports by Intermodal and other brokers suggest that Greece's Sun Enterprises and TMS Group and Germany's Peter Dohle ordered...

PetroVietnam Power: first LNG power plant connected to grid

PV Power said in a statement that the plant generated 50 MW of electricity as part of its testing...

More News Like This

YPF seals deal to join PAE and Golar to develop FLNG project

YPF CEO Horacio Marin announced the signing of the agreement in a social media post on Thursday. The CEO revealed...

Golar sells Avenir LNG stake to Stolt-Nielsen

Avenir is a joint venture of Stolt-Nielsen, Golar, and Hoegh Evi, previously known as Hoegh LNG. Gold said in a...

Golar’s FLNG gets first gas from GTA field

According to a statement by Golar, the "key" milestone took place on January 18. Golar said full commissioning of the...

Golar’s Macaw produces first LNG at small liquefaction unit in Texas

Macaw announced in a social media post on Wednesday it achieved its first LNG from stranded flare in Texas...