Together with our joint venture partners Schlumberger and Stonepeak, Golar will have a presence across the entire LNG value chain. Golar’s own service offering focuses on the LNG midstream component of this chain, that is, the liquefaction, transport, storage and regasification of LNG:
- Production and liquefaction of gas from reservoir – operated by Golar with OneLNG, a joint venture between Golar LNG (51%) and Schlumberger (49%)
- LNG shipping – operated by Golar
- LNG regasification – operated by Golar with Golar Power, a 50-50 joint venture between Golar LNG and Stonepeak Infrastructure Partners
This is a capital-intensive industry characterised by long-term contracts. Golar has therefore separated its business into a portfolio of long-term contracted assets that attract a lower cost of capital and provide a tax efficient predictable yield. Proceeds received from the transfer of long-term contracted assets into this portfolio company can then be used to part fund the other part of Golar’s business which is the development of new projects and the contracting of its assets currently operating in the spot and short-term market.
- Long-term contracted midstream assets to be offered to Golar LNG Partners LP, a master limited partnership sponsored by Golar LNG as a long-term monetisation vehicle.