Golar neue Chancen durch verstärkte Umwandlung von Gas in LNG (Seite 58)

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14.02.17 21:16:15
Beitrag Nr. 571 ()
Antwort auf Beitrag Nr.: 54.313.867 von R-BgO am 14.02.17 10:07:37Published: 15:20 CET 14-02-2017 /GlobeNewswire /Source: Golar LNG / : GOL /ISIN: BMG9456A1009

Golar LNG Limited Announces Pricing of $350 Million of 2.75% Convertible Senior Notes Due 2022


Hamilton, Bermuda, February 14, 2017 --

Golar LNG Limited (the "Company") (NASDAQ: GLNG) announces today the pricing of $350 million aggregate principal amount of its 2.75% Convertible Senior Notes due 2022 (the "Notes"), in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The Company has also granted the initial purchasers of the Notes a 30-day option to purchase up to an additional $52.5 million aggregate principal amount of the Notes in connection with the offering, solely to cover overallotments. The offering is expected to close on February 17, 2017, subject to the satisfaction of certain customary closing conditions.

The Notes will be senior, unsecured obligations of the Company, bear interest at a rate of 2.75% per annum, payable semi-annually in arrears on February 15 and August 15 of each year, beginning on August 15, 2017, mature on February 15, 2022, and be convertible into the Company's common shares, cash, or a combination of shares and cash, at the Company's election. The conversion rate for the Notes will initially equal 26.5308 common shares per $1,000 principal amount of the Notes, which is equivalent to an initial conversion price of approximately $37.69 per common share, and is subject to adjustment.

The Company will use approximately $27.1 million of the net proceeds from the sale of the Notes to fund the cost of the initial capped call transactions described below and use the remaining funds for other general corporate purposes.

In connection with the offering of the Notes, the Company entered into capped call transactions with one or more of the initial purchasers of the Notes or their affiliates (the "option counterparties"). The capped call transactions have an initial strike price of approximately $37.69 per share and an initial cap price of $48.86 per share, subject to certain adjustments. The capped call transactions cover, subject to customary adjustments, approximately 9,285,780 common shares of the Company. The capped call transactions are expected to reduce the potential dilution to the Company's common shares upon and/or offset the cash payments the Company is required to make in excess of the principal amount of converted Notes, with such reduction and/or offset subject to a cap. If the initial purchasers exercise their option to purchase additional Notes, the Company may enter into additional capped call transactions with the option counterparties.

In connection with establishing their initial hedge of the capped call transactions, the Company expects that the option counterparties will enter into various derivative transactions with respect to the Company's common shares concurrently with or shortly after the pricing of the Notes and may unwind these various derivative transactions and purchase the Company's common shares in open market transactions shortly following the pricing of the Notes.

These activities could have the effect of increasing, or reducing the size of a decline in, the market price of the Company's common shares or Notes concurrently with, or shortly following, the pricing of the Notes. In addition, the option counterparties (and/or their respective affiliates) may modify their hedge positions by entering into or unwinding various derivatives with respect to the Company's common shares and/or purchasing or selling the Company's common shares or other securities of the Company in secondary market transactions following the pricing of the notes and prior to the maturity of the notes. Any of these activities could cause or avoid an increase or a decrease in the market price of the Company's common shares or the Notes.
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09.04.17 11:08:02
Beitrag Nr. 572 ()
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16.08.17 18:08:25
Beitrag Nr. 573 ()
Golar LNG Limited - Sale of an Interest in the FLNG, Hilli Episeyo

Golar LNG Limited (NASDAQ: GLNG) ("Golar") announced today that it and affiliates of Keppel Shipyard Limited ("Keppel") and Black and Veatch ("B&V") have entered into a purchase and sale agreement (the "PSA") for the sale (the "Sale") of equity interests (the "Interests") in Golar Hilli LLC to Golar LNG Partners L.P. (the "Partnership"), which will, on the closing date of the Sale, indirectly own the Hilli Episeyo (the "Hilli"), a floating liquefied natural gas vessel.

The Acquired Interests represent the equivalent of 50% of the two liquefaction trains, out of a total of four, that have been contracted to Perenco Cameroon SA and Societe Nationale Des Hydrocarbures (together, the "Customer") for an eight-year term.

The sale price for the Interests, as described below, is $658 million less net lease obligations under the financing facility for the Hilli (the "Hilli Facility") that are expected to be between $468 and $480 million. Concurrent with the execution of the PSA, the Partnership paid a $70 million deposit to Golar, on which the Partnership will receive interest at a rate of 5% per annum.

The closing of the Sale (the "Closing") is subject to the satisfaction of certain closing conditions which include, among others, receiving the consent of the lenders under the Hilli Facility, the closing of the previously announced put-sale closing with respect to the Golar Tundra (the "Tundra Put Sale"), the delivery to and acceptance by the Customer of the Hilli, the commencement of commercial operations under the liquefaction tolling agreement (the "LTA") and the formation of Golar Hilli LLC and the related Pre-Closing Contributions as described further below.

Prior to the Closing, Golar, Keppel and B&V will contribute their equity interests in Golar Hilli Corporation ("Hilli Corp"), the entity that owns the Hilli, to the newly formed Golar Hilli LLC (the "Pre-Closing Contributions") in return for equity interests in Golar Hilli LLC.

Membership interests in Golar Hilli LLC will be represented by three classes of units:

*Common Units ("Common Units");
*Series A Special Units ("Series A Units"); and
*Series B Special Units ("Series B Units").

Common Units will be entitled to cash flows from the first 50% of contracted capacity, initially contracted to the Customer under the LTA. Common Units will not be exposed to the oil-linked pricing elements of the tolling fee under the LTA but will bear the operating costs of the Hilli, with only incremental costs ("Incremental Costs") accruing to the Series B Units and the interest costs of the Hilli Facility.

Series A Units will only be entitled to cash flows associated with oil price linked elements of the tolling fee under the LTA, net of incremental tax expenses and their pro rata portion of any costs that may arise as a result of the underperformance of the Hilli ("Underperformance Costs").

Holders of Series B Units will be entitled to the cash flows associated with any expansion of contracted capacity of the Hilli beyond the first 50%, net of Incremental Costs arising as a result of making available more than the first 50% of production capacity of the Hilli, Underperformance Costs and any reduction in revenue attributable to the first 50% of LNG production capacity as a result of making more than 50% of capacity available under the LTA.

Through the Sale, the Partnership will only acquire 50% of the Common Units and none of the Series A Units or Series B Units.

Upon the Closing, which is expected to occur on or before April 30, 2018, Golar, Keppel and B&V will sell 50% of the Common Units to the Partnership in return for the payment of the net purchase price of between approximately $178 and $190 million.

The Partnership will apply the $107 million deferred purchase price receivable from Golar in connection with the Tundra Put Sale and the $70 million deposit referred to above against the net purchase price and will pay the balance with cash on hand.

The Hilli conversion is nearing completion and no major issues have been identified. All equipment has been installed and pre-commissioning work is well underway. Golar is focused on doing as much testing as possible in the yard and at anchorage in order to minimise the risk of issues being encountered in Cameroon. The extra days spent in Singapore are expected to reduce the time required for commissioning on site. The Hilli is scheduled to leave Singapore for Cameroon at the end of September or beginning of October. LNG bunkering has been booked for mid-September. The mooring system has been installed in Cameroon and is ready for hook up of Hilli. All going well, the voyage between Singapore and Cameroon is expected to take 32 to 40 days allowing Golar to tender its notice of readiness during the first half of November. The Customer remains on track with its scope of works and the Hilli conversion currently remains materially under budget.

Golar will draw down the final tranche of the Hilli Facility upon Customer acceptance of the vessel. After settlement of all outstanding conversion costs, Golar currently expects to receive approximately $140 million, net of the Keppel and B&V minority interests, which is additional to the sale proceeds from the Partnership as described above.
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25.08.17 09:00:29
Beitrag Nr. 574 ()
Golar LNG Limited: Fortuna FLNG Offtake Awarded to Gunvor

The Ministry of Mines and Hydrocarbons ("MMH"), Ophir Equatorial Guinea (Block R) Ltd, OneLNG SA and La Compania Nacional De Petroleos De Guinea Ecuatorial ("GEPetrol") have nominated Gunvor Group Ltd ("Gunvor") as its preferred LNG Buyer for offtake from the Fortuna FLNG project. All parties have agreed the principal commercial terms subject to finalising a Sale and Purchase Agreement ("SPA") for the offtake ahead of the Final Investment Decision ("FID") on the Fortuna FLNG project.

Gunvor is committed to take the full contract capacity of the Gandria FLNG vessel of 2.2 MMTPA which will be purchased on a Brent-linked, Free on Board ("FOB") basis for a 10 year term. The contract structure allows flexibility for up to 1.1mmtpa of the Fortuna capacity to be marketed on an alternate basis. Consequently the agreement gives the Fortuna partners alongside the State of Equatorial Guinea, the potential to sell volumes to higher priced gas markets in Africa and beyond, whilst retaining a share in the profits of such onward marketing.

With the identification of a preferred LNG Buyer now achieved, the last significant milestone prior to the FID of the Fortuna FLNG project is the completion of the project funding, with FID remaining on track for 2017.

His Excellency, Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons for the Republic of Equatorial Guinea, commented: "The selection of Gunvor sets a landmark moment in the development of the Fortuna Project. The partnership with Gunvor also paves the way for the government's objective to deliver important projects that monetize our gas, promotes local content and brings world-class petroleum technology to Equatorial Guinea. The Fortuna Project will target becoming the first choice supplier of LNG for the LNG to Africa initiative, furthering Equatorial Guinea's leadership position in Africa as an LNG exporter."

Nick Cooper, Chief Executive of Ophir, commented: "We thank those parties that participated in the competitive tender process for the offtake and welcome Gunvor to the Fortuna FLNG Project. Gunvor's involvement is a further addition to a strong partnership along the Fortuna value chain. Our focus is now on completing the financing package and debt facility". With Golar's sister vessel, the Hilli Episeyo, nearing completion and with Petronas FLNG having recently delivered commercial cargoes, FLNG is now entering the mainstream".

Jeff Goodrich, CEO OneLNG SA commented: "OneLNG, along with the State of Equatorial Guinea and Ophir, would like to take the opportunity to welcome Gunvor to the Fortuna family. We look forward to working together to set the new performance benchmark in FLNG".
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01.06.18 08:02:06
Beitrag Nr. 575 ()
Antwort auf Beitrag Nr.: 53.662.002 von R-BgO am 10.11.16 09:55:15nix geworden...:

Schlumberger quits OneLNG JV and Fortuna FLNG project

Liquefied natural gas shipper, Golar LNG said its OneLNG partner Schlumberger decided to end involvement in Fortuna FLNG project in Equatorial Guinea, resulting in the dissolution of the joint venture.

In its quarterly report, Golar LNG said that the decision was influenced by the inability of the Fortuna FLNG project leader Ophir and OneLNG to finalize a debt financing package, as well as other capital and resource priorities.

Golar and Schlumberger, as a result of this, and based on the structure of the BP project, plan to wind down OneLNG and work on FLNG projects as required on a case-by-case basis.

Ophir Energy added that Golar and Ophir remain actively engaged in senior level discussions with a number of counterparties over a financing solution for the project.

The company has already held informal discussions with other, well-capitalized, potential partners for the Fortuna project.

“Following the announcement re. OneLNG we have now formalized discussions and are actively moving forward with them,” Ophir said.
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05.06.18 09:27:21
Beitrag Nr. 576 ()
Golar LNG :FLNG Hilli Episeyo - Customer Acceptance

Golar LNG Limited confirms today that that FLNG Hilli Episeyo has been accepted under its Liquefaction Tolling Agreement with Perenco Cameroon SA and Societe Nationale Des Hydrocarbures and is now in full commercial operation.

The commissioning tests included the requirement to produce a set quantity of LNG in a period of 16 days of continuous production from minimum 2 trains at a level of 7500 m3 per day on average.

The commercial tolling rate commencing will immediately add approximately $164 million in EBITDA* of base tolling income per year plus an additional $45 million operating cash flow per year based on the oil price linked element of the contract (assuming that Brent remains at an average of $75/bbl).

As a consequence of the commencement of commercial operations Golar is now able to draw on the $960 million lease financing facility that will replace the existing loan. It is estimated that a minimum of approximately $140 million in additional free cash will be released from this facility after meeting maximum remaining capital costs and net of minority interests.

The drop down of 50% of the base tolling income to Golar LNG Partners L.P. is expected to be concluded shortly. The additional added contribution of approximately $82 million in effective EBITDA* and effective EBITDA backlog of $650million, given the 8 year contract term, will significantly strengthening the MLP's financial position and supporting solid distribution going forward.

FLNG Hilli Episeyo is the world's first FLNG vessel that has been developed as a conversion project from an LNG carrier. This conversion approach adds value through its accelerated time to first LNG production and cost competitive pricing.

The commencement of commercial operations of Hilli Episeyo took place in less than 4 years after speculative contracts were signed with Keppel Shipyard. The project cost is expected to be approximately $70 million under budget.

The Board wishes to thank all employees for an impressive job and a very well executed project. The commencement of Hilli puts Golar in an unchallenged position as a reliable provider of low cost FLNG technology.
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21.06.18 16:37:24
Beitrag Nr. 577 ()
Antwort auf Beitrag Nr.: 57.909.129 von R-BgO am 05.06.18 09:27:21FLNG Hilli Episeyo - Closing of Post Acceptance Debt Financing

Golar LNG Limited ("Golar" or "The Company") announces today 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. After the closing therefore an additional $320 million of liquidity has been received by Golar.

The net increase in liquidity to Golar after settling remaining Hilli Episeyocapital commitments as well as amounts due to minority (10.89%) shareholders Keppel and Black and Veatch as a result of the debt draw down, is expected to be approximately $200 million. This is based upon the expectation that a significant amount of the contingency fund will not be required.

The drop down of 50% of the base tolling income to Golar LNG Partners L.P. is expected to be concluded shortly. The additional added contribution of approximately $82 million in effective EBITDA* and effective EBITDA backlog of $650million, given the 8 year contract term, will significantly strengthening the MLP's financial position and supporting the distribution going forward.

Golar CEO Iain Ross commented: "We are delighted to have closed this financing and with the support and good relationship we have with CSSC leasing. With the announcement in April of the closing of the Sergipe financing we are now in a position that all our major capital commitments are fully funded, with the only exception being the FSRU Nanook which has a 25 year charter and on which financing discussions are well advanced. In addition to being fully funded the Company's liquidity is also significantly improved."

*EBITDA: earnings before interest, tax, depreciation and amortization; is a non GAAP measure and is defined as being equivalent to revenues less operating expenses for the purposes of this press release. Golar LNG Partners does not expect to initially consolidate Golar Hilli LLC or Hilli Corp and so will reflect its share of net income on its income statement as "equity in net earnings of affiliates."
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01.10.18 15:09:40
Beitrag Nr. 578 ()
rührig sind sie:
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10.11.18 11:54:41
Beitrag Nr. 579 ()
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12.11.18 10:40:27
Beitrag Nr. 580 ()
interessanter Lesestoff, oben:

LNG Terminals u Distributiosanlagen in Italien, in Kroatien

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Golar neue Chancen durch verstärkte Umwandlung von Gas in LNG