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Golar re-writes the LNG game with floating plant

Thu, 11/01/2012 - 1:25pm
Reuters

LONDON (Reuters) - Norwegian shipper Golar LNG made big waves on Thursday by ordering its first floating liquefied natural gas (LNG) plant, an innovation that analysts said could loosen the grip on LNG production enjoyed by oil majors.

The announcement set Golar's stock soaring as analysts recommended shares in the Norwegian shipper, calling the move a big game changer. Its share price rose more than 10 percent to $43.14.

Golar agreed to convert one of its old LNG tankers into a floating LNG vessel (FLNGV), or production plant, and is eyeing African flared gas and pipeline systems as a source of supply, it said.

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