USA’s Golar LNG divests stakes during LNG boom
NEW YORK, April 8, 2022 – Golar LNG has sold significant shares in fellow US LNG player New Fortress Energy for around USD 250 million amid stock price surge, the New-York listed company announced on Wednesday.
Stock prices in LNG players have risen significantly, with New Fortress Energy’s share prices rising by 90% on February 24, 2022, when Russia began occupying Ukraine and hit a peak at the beginning of the following April.
The sale amounts to around one third of New Fortress Energy’s 18.6 million shares, which were obtained through the sale of subsidiary Hygo Energy Transition to New Fortress Energy in April 2021.
Golar LNG said the gained capital will be spent on new FLNG ventures.