Form 6-K GOLAR LNG LTD For: Jun 01
- Wall St starts fourth quarter on a high note
- Tesla (TSLA) Now 'Unlikely' to Hit Its 50% Delivery Growth Goal for 2022 - Analyst
- Citi Cuts Year-end S&P 500 Price Target to 4000, Introduces 2023 PT of 3900
- Oil jumps more than $4 as OPEC+ weighs biggest output cut since 2020
- Goldman: We Forecast Further Selling in 2023, Households Could Sell $100 Billion in Equities
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of June 2022
Commission File Number: 000-50113
Golar LNG Limited
(Translation of registrant's name into English)
2nd Floor S.E. Pearman Building 9 Par-la-Ville Road Hamilton HM 11 Bermuda
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [ X ] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
On June 1, 2022, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
(c) Exhibit 99.1. Press release dated June 1, 2022
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|Golar LNG Limited|
|Date: June 1, 2022||/s/ Karl Fredrik-Staubo|
|Chief Executive Officer|
Snam purchases 5 billion cubic metre floating LNG regasification terminal from Golar LNG for US$350 million
The new LNG import terminal will help safeguard Italy’s energy security and diversification
San Donato Milanese (Milan), Bermuda, June 1st 2022 – Snam and Golar LNG Limited (“Golar”) have signed an agreement for the Snam Group to acquire 100% of the share capital of Golar LNG NB 13 Corporation, whose sole asset is a floating storage and regasification unit (FSRU), named “Golar Tundra”, for US$350 million (about €330 million). The transaction was approved by the Golar Board of Directors on May 30th.
The Golar Tundra can operate both as an LNG carrier and as an FSRU. The vessel, built in 2015, has a storage capacity of around 170,000 cubic metres of LNG and a continuous regasification capacity of 5 billion cubic meters per year. In order to maximise its regasification capacity, the vessel will be located in central-northern Italy, close to the areas with greatest gas consumption. The Golar Tundra is expected to start operations as an FSRU during the spring of 2023, subject to completion of authorisation, regulatory processes and the construction of the necessary infrastructure connecting the terminal to the existing gas transport network.
Snam CEO Stefano Venier commented: “With the purchase of the Golar Tundra, Snam is taking a decisive step to enhance the security and diversification of Italy’s energy supplies, in line with its mission. The role of the new FSRU for the benefit of our country will be essential: alone it will contribute to about 6.5% of domestic needs thus bringing the country’s regasification capacity to over 25% of the demand. Snam completed the transaction quickly and effectively in a highly competitive market due to the scarcity of supply and is continuing its efforts to acquire a second FSRU of a similar size, for which exclusive negotiations are currently under way and expected to be finalised by end of June”.
Golar CEO Karl Fredrik Staubo commented: “We are pleased to have reached an agreement for Golar Tundra with Europe’s largest natural gas infrastructure owner. Today’s announced sale marks the second transaction between Golar and Snam for two independent FSRU projects in Italy in a short period of time. We are pleased to work with Snam for the successful start-up of the LNG terminals, and to contribute to Europe’s drive towards energy security. With the sale of Golar Tundra, Golar reinforces its focus on FLNG, enabling efficient production of proven gas reserves allowing customers to further diversify gas supply.”
As part of the transaction, which followed a due diligence assessment of the acquired company and the FSRU itself, Golar will lease Golar Tundra from Snam as an LNG carrier for a limited period of time after closing, and assist Snam in the preparatory work for the installation of the vessel in the selected port. The completion of the transaction occurred simultaneously with the signing of the contracts and will be financed by Snam out of its own resources. In the coming months Snam will begin activities to contract LNG regasification capacity, which will gradually become available from start-up of Golar Tundra as an FSRU expected during the spring of 2023.
This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended). All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as “may,” “could,” “should,” “would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue,” or the negative of these terms and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements.
You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Golar LNG Limited undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable law.
Golar LNG Limited
+44 207 063 7900
+39 02 37037273
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BofA Securities Upgrades Golar LNG Ltd. (GLNG) to Buy
- Statement on Sept. 30 Pandemic Recovery Spending Deadline
- U.S. manufacturing activity slowest in almost 2-1/2 years in September-ISM
Create E-mail Alert Related CategoriesSEC Filings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!