golar in A Sentence

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    But the smaller-than-expected Chinese tariff helped lift Cheniere Energy, whose shares on Tuesday were up 2.9 percent, and Golar LNG, whose stock rose 2 percent.

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    Success in Cameroon could speed up Golar's progress in Equatorial Guinea, where a final investment decision on Fortuna FLNG was delayed after three Chinese banks pulled out last year.

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    Iain Ross, the chief executive of LNG shipping company Golar LNG, said this month the forecast of a 23 percent rise in LNG production over two years would require 100 extra vessels.

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    Further to the Joint Development Agreement signed in June 2017, Golar and Delfin are now working to finalize terms for the establishment of a joint venture company to own and develop the first floating liquefaction vessel.

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    As the cost of land-based LNG plants more than tripled in the decade to 2013, Golar pioneered the conversion of ageing LNG tankers into giant refrigerators capable of chilling gas into its liquid form at minus 162 Celsius.

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    Golar CEO Iain Ross said:“This landmark 20-year agreement with BP, which is Golar's second FLNG tolling agreement, is the culmination of a lot of hard work and commitment from the project and commercial teams that commenced late 2017.

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    When connected to Delfin's existing pipeline infrastructure, the Mark II FLNG solution is expected to deliver the lowest cost liquefaction solution in North America giving Delfin and Golar an early mover advantage marketing a relatively small parcel of LNG into a demand driven market.

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    Golar LNG announced that following the June 4th announcement of commercial acceptance of Hilli Episeyo, the Company has repaid the $640 million drawn under the $700 million construction financing facility and drawn down on the post acceptance $960 million lease financing facility provided by CSSC Leasing.

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