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Golar announces changes to the Cool Pool

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LNG Industry,

Golar LNG Ltd has released a statement claiming that, due to the potential spin-off of its TFDE fleet into a new pure-play LNG shipping entity, GasLog has decided to withdraw its six vessels from the Cool Pool.

Golar, or, subject to interim market conditions, the spin-off entity, will assume ownership of the Cool Pool following GasLog’s departure in June. Golar claims that there will be a ramp down period to allow for conclusion of existing GasLog vessel charter contracts.

According to the statement, Golar is currently holding talks with other owners of similar tonnage to join the new shipping entity. It is expected that Golar’s spot traded TFDE carriers, the Golar Tundra, as well as Golar Power’s available TFDE carriers and any further tonnage within the new shipping entity, will continue to trade within the Cool Pool after a formal launch of the spin-off.

Golar claims that the transfer of the Cool Pool to this new shipping entity is expected to create the leading independent provider of available on-the-water TFDE LNG carriers. The formal launch of the spin-off and the transfer of the shares in Cool Pool thereto remains subject to satisfactory market and other closing conditions.

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