Golar LNG, Rosneft Eye FLNG Cooperation

Owner and operator of LNG carriers Golar LNG Limited and Russia’s gas producer Rosneft Oil Company have entered into a Memorandum of Understanding on cooperation in the area of floating liquefaction (FLNG) and transportation of natural gas.

Under this MoU the companies plan to discuss opportunities for the use of Golar’s GoFLNG facilities in Latin America and potentially other locations.

The parties said they were targeting signing of two FLNG tolling agreements for projects within Rosneft’s portfolio.

“This memorandum between Golar and Rosneft represents an opportunity for both companies to clearly align their objectives, combining Golar’s leading midstream LNG credentials (liquefaction, transportation and regasification) and Rosneft’s world class upstream portfolio,” the two companies said in a statement.

Golar added that its latest strategic move is to extend its business model further upstream by deploying its floating liquefaction technology (GoFLNG).

“The objective is to become the industry’s leading integrated midstream LNG services provider, supporting resource owners, gas producers and gas consumers,” the company went on to say.