golar lng to join bluewater for challenging opportunity in south africa

Golar LNG to Join Bluewater For Challenging Opportunity in South Africa

07-16-2008

Golar LNG agrees with Bluewater Energy Services B.V for partnership in bidding for an offshore LNG FSRU opportunity with South Africa's national oil company, PetroSA. Golar and Bluewater will be equal partners in a joint venture formed specifically for this opportunity.

Additionally, and in conjunction with this bid, Golar and Bluewater have agreed to acquire the 1977 built Moss type 126,000 m3 LNG Carrier, Hoegh Gandria. The vessel is intended to be used as the converted offshore FSRU.

"The acquisition of the Gandria in partnership with Bluewater and joint bidding for the technically challenging opportunity in South Africa demonstrates Golar's firm commitment to continue growing its mid stream business, its ability to partner with leading industry participants in order to deliver the best available technical solutions and its commitment to enhance shareholder value by being a first mover in this expanding area of business," said Golar Management UK Ltd's CEO, Gary Smith.