Cool Company Ltd. – Formation Completed

Source: www.gulfoilandgas.com 7/1/2022, Location: South America

Golar LNG Limited ("Golar") announces that it has sold to Cool Company Ltd. (“CoolCo”) the management organization responsible for the technical and commercial management of LNG carriers, and the provision of such services to third parties, as contemplated in the January 2022 Cool Company Ltd. formation update. CoolCo paid the previously agreed purchase price of $5 million in cash for the shares plus $1.5 million in working capital. As part of the transaction, approximately 600 maritime and office-based personnel became CoolCo employees. Today, Richard Tyrrell also assumed his position as CEO of CoolCo, replacing Interim CEO Karl Fredrik Staubo.


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