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, BermudaJune 6, 2019Enquiries:Golar Management Limited:
+ 44 207 063 7900Stuart Buchanan
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