Anders Pedersen Bjergaard–
14:03 – 3 Oct. | Updated 14:15
—
The state oil company Petrobras has excluded Golar Power in a tender competition in Brazil, writes Upstream.
According to the newspaper, Golar Power was about to win the tender, but after top manager Eduardo Antonello, is suspected of corruption and money laundering in Brazil, the company was banned. According to one press release from Petrobras, Golar’s bid was considered “high risk”.
The tender was for the lease of a regasification terminal in the Bahia region of Brazil. Such a terminal is used to receive liquefied natural gas from ships, convert it into ordinary natural gas and send it on in pipelines. The plant must be able to handle up to 20 million cubic meters of gas per day.
Golar Power is a jointly owned company of Golar LNG and the acquisition fund Stonepeak Infrastructure Partners.
Course massacre
In fact, Golar Power was to change its name to Hygo Energy Transition and be listed as a separate company on Nasdaq. Those plans are now on hold.
Several Golar LNG shareholders have sued the company in the US because they believe the company should have reported the allegations earlier.
Following the corruption allegations against Eduardo Antonello, investors have made mincemeat of the Golar LNG stock, and the stock is down from 14 to 7 dollars.
Tor Olav Trøim is chairman of the board of Golar LNG and holds 5.4 percent of the shares. Antonello is a partner in Trøims Magni Partners.
–
–
