Stolt-Nielsen form joint venture to pursue small-scale LNG projects

A 50/50 joint venture between Stolt-Nielsen and Golar LNG has been formed to pursue opportunities in small-scale LNG production and distribution.
Stolt-Nielsen has made an investment in Golar LNG representing an ownership stake of around 2.3% in the company.
Golar developed the first floating storage and regasification units based on conversions of existing LNG carriers.
Niels Stolt-Nielsen, CEO of Stolt-Nielsen says: ‘A key element of Stolt-Nielsen’s long-term strategy is diversification that leverages our core skillsets, including shipping, storage and distribution. We targeted LNG as a growth market and entered into small-scale LNG liquefaction and logistics services in 2014, through our joint venture Stolt LNGaz.
‘With our investment in Golar LNG we aim to develop further opportunities in the LNG space, targeting onwards distribution to off-the-grid customers, supported by Golar’s midstream ocean-based system.
Golar Management CEO Gary Smith adds: ‘Stolt-Nielsen’s core strengths in logistics and distribution are an excellent fit with Golar’s midscale LNG focus.’