Golar, Stonepeak Partner to Operate Natural Gas Import Units
- The 50-50 joint venture comes amid a glut in global LNG
- Brazil is boosting gas imports as drought cuts power supply
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Golar LNG Ltd. will join private-equity firm Stonepeak Infrastructure Partners to invest in power projects and floating import terminals as nations seek to take advantage of a global glut of liquefied natural gas.
The companies have formed a 50-50 joint venture, Golar Power Ltd., to own and operate storage and regasification units and related infrastructure, Hamilton, Bermuda-based Golar said in a statement Monday. Golar shares jumped the most in more than three months.