Page 10 - GLNG Week 04 2022

GLNG NEWS IN BRIEF GLNG

AMERICAS of modern LNG carriers providing investors Sempra Infrastructure,
with direct market exposure to an expected
Cool Co. closes $275mn continued strength in the LNG freight market. Entergy Louisiana sign
Karl Fredrik Staubo, CEO of Golar and
private placement of shares CoolCo commented: “We are very pleased MoU to advance renewable
with the reception of CoolCo. The Company
Reference is made to the press release issued will target to become a leading player energy
on the 27 January 2022. Golar LNG (“Golar”) for an expected continued strengthening
is pleased to announce that Cool Co. of LNG shipping fundamentals, driven Sempra Infrastructure, a subsidiary of
(CoolCo) has successfully closed an upsized by new liquefaction capacity coming on Sempra, announced today it has entered into
private placement of $275mn in new shares. stream, increasing distances and effective a memorandum of understanding (MoU)
Following the equity raise CoolCo will have supply reductions from new environmental with Entergy Louisiana to develop options
an initial equity value of $400mn. Eastern regulations effective from 1 January 2023. designed to accelerate the deployment
Pacific Shipping (EPS) will be the largest We are excited to develop Cool Company of renewable energy to power Sempra
shareholder with a 38% shareholding, Golar with Eastern Pacific Shipping and look Infrastructure’s facilities in the state.
will own 31% and the public will own 31% of forward to exploring consolidation “Electrification of industrial processes,
the company. opportunities.” increasing Louisiana’s renewable and zero
The shares will be listed on the N-OTC Cyril Ducau, CEO of Eastern Pacific carbon electricity resources, and becoming
immediately following completion of the Shipping commented: “The strong market a leader in the deployment of carbon
Private Placement. CoolCo will then apply to support for this transaction creates a solid sequestration, are three of the pillars that are
list the shares of the Company on Euronext foundation for CoolCo. With a strong critical to ensuring our success in a net-zero
Growth Oslo during February 2022. CoolCo shareholder base, robust capital structure, world,” said Louisiana Governor John Bel
will also target an additional listing on an experienced team and strong LNG market Edwards. “I applaud companies like Sempra
internationally recognised stock exchange reputation the company is well equipped to Infrastructure and Entergy Louisiana that are
during 2022. realise value from an enviable market position working to help make this vision a reality.”
Initially owning eight modern TFDE LNG and build on favourable dynamics for LNG The MoU is non-binding and sets forth a
ships upon closing of a Sale and Purchase shipping.” framework for Entergy Louisiana and Sempra
Agreement in February, CoolCo targets to GOLAR LNG, January 27, 2022 Infrastructure to collaborate on developing
become a growth vehicle and consolidator additional options for renewable energy
procurement for Sempra Infrastructure
affiliated facilities, subject to the ultimate
approval of the Louisiana Public Service
Commission and, with respect to Cameron
LNG, its joint venture partners. The MoU also
provides for collaboration for the potential
reduction of methane emissions upstream of
Sempra Infrastructure facilities.
“We have long valued Entergy Louisiana
as a critical partner in our efforts to build
world-class infrastructure that creates
economic opportunity for the state while
also providing lower carbon-natural gas and
energy security to the world,” said Lisa Glatch,
president of LNG and Net-Zero Solutions for
Sempra Infrastructure. “As we look towards
electrifying our next generation of facilities
and enabling new net-zero solutions like
carbon sequestration, we are immensely
excited about the opportunity to explore how
we can jointly accelerate the deployment
of renewable energy to power these new
technologies.”
Sempra Infrastructure owns a 50.2%
interest in Cameron LNG, a 12mn tonnes per
annum (Mtpa) liquefied natural gas export
facility operating in Hackberry, Louisiana
and is working with the Cameron LNG joint
venture partners to develop a cost-effective
and lower-emission potential expansion of
the facility. The proposed Cameron LNG
expansion would include an additional
liquefaction train with an offtake capacity of

P10 www. NEWSBASE .com Week 04 28•January•2022