Golar LNG Limited ("Golar")
announces today that due to the potential spin-off of its TFDE
fleet into a new pure-play LNG shipping entity, GasLog has decided
to withdraw its six vessels from the Cool Pool. Golar, or,
subject to interim market conditions, the spin-off entity, will
assume ownership of the Cool Pool following GasLog's departure in
June. There will be a ramp down period to allow for
conclusion of existing GasLog vessel charter contracts.
Golar are in talks with other
owners of similar tonnage to join the new shipping entity. It
is expected that Golar's spot traded TFDE carriers, the Golar Tundra together with Golar Power's available TFDE
carriers and any further tonnage within the new shipping entity
will continue to trade within the Cool Pool after a formal launch
of the spin-off. Transfer of the Cool Pool to this new shipping
entity is expected to create the leading independent provider of
available on-the-water TFDE LNG carriers. Formal launch of the
spin-off and the transfer of the shares in Cool Pool thereto
remains subject to satisfactory market and other closing
conditions.
FORWARD LOOKING STATEMENTS
This press release contains
certain forward-looking statements concerning future events and
Golar's operations, performance and financial condition.
Forward-looking statements include, without limitation, any
statement that may predict, forecast, indicate or imply future
results, performance or achievements, and may contain the words
"believe", "anticipate", "expect", "estimate", "project", "will
be", "will continue", "will likely result", "plan", "intend" or
words or phrases of similar meanings. These statements involve
known and unknown risks and are based upon a number of assumptions
and estimates that are inherently subject to significant
uncertainties and contingencies, many of which are beyond Golar's
control. Actual results may differ materially from those expressed
or implied by such forward-looking statements. Important
factors that could cause actual results to differ materially
include, but are not limited to, those factors listed from time to
time in the reports and other documents Golar files with the United
States Securities and Exchange Commission.
New factors emerge from time to
time, and it is not possible for Golar to predict all of these
factors. Further, Golar cannot assess the impact of each such
factor on its business or the extent to which any factor, or
combination of factors, may cause actual results to be materially
different from those contained in any forward-looking statement.
Golar does not intend to release publicly any updates or revisions
to any forward-looking statements contained herein to reflect any
change in Golar's expectations with respect thereto or any change
in events, conditions or circumstances on which any such statement
is based.
Hamilton, Bermuda
June 6, 2019
Enquiries:
Golar Management Limited: + 44 207 063 7900
Stuart Buchanan
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Golar LNG via Globenewswire
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