Golar LNG and Stolt-Nielsen Limited said they have formed a 50/50 joint venture to pursue opportunities in small-scale LNG production and distribution.
Stolt-Nielsen has also made an investment in Golar through open market purchases, representing an ownership stake of approximately 2.3%.
The joint venture between Golar and Stolt-Nielsen will draw upon the logistics and small-scale LNG assets controlled by Stolt-Nielsen and the ocean-based LNG midstream assets controlled by Golar to provide a fully integrated LNG logistics service to consumers of natural gas, the two companies said in a joint statement on Thursday.
Niels G. Stolt-Nielsen, Chief Executive Officer of Stolt-Nielsen, said: “We targeted LNG as a growth market and entered into small-scale LNG liquefaction and logistics services in 2014, through our joint venture Stolt LNGaz.
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.”
Image: Golar LNG