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New Spin: Break-Up at Largest US Gas Shipping Co After "Cool Pool" Disbands
A unique cooperative venture between Golar LNG Ltd (GLNG) and GasLog Ltd (GLOG) called the Cool Pool, which coordinated a joint fleet of 14 vessels in transporting liquefied natural gas, is winding down after GLOG announced its withdrawal from the scheme. This exit was prompted by GLNG's intent to Spinoff its tri-fuel diesel electric (TFDE) LNG carriers into a separate entity, while the Parent ex-Spin will focus on its floating liquefied natural gas (FLNG) power and downstream assets.

  • First & Only Cooperative LNG Shipping Coordinator "Cool Pool" Disbands Following Spinoff Announcement
  • GLNG Plans to Separate Its Tri-Fuel Diesel Electric LNG Carriers Business / Follows Peer FLEX LNG to Market
  • LNG Shipping Investors Gain Exposure Through the Spin / Parent Realigns to Long-Term Infrastructure Contracts
  • Substantial Net Debt Reduction, Improved Long-Term Cash Generation Profile & Limited Commodity Volatility for Parent
  • Spinoff Timing Undisclosed / GLNG Enters the ESR Upcoming US Spinoff Calendar
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