Hard-nosed buyers are bargaining for cheap term LNG supplies as about one-third of active contracts are due to expire between 2020 and 2025. Contracting activity collapsed this year with only 35 bcm signed to date, giving buyers plenty of bargaining power to negotiate flexible pricing and delivery terms.
Plans for debut trading in Hygo Energy at the US stock exchange NASDAQ have been shelved amid corruption allegations against the company’s CEO Eduardo Antonello. Hygo, a joint venture between Golar LNG and the U.S. private equity firm Stonepeak Infrastructure Partners, had plans to develop two LNG-to-Power projects in Brazil.
Shares in Siemens Energy have opened lower than anticipated on their first trading day in Frankfurt in what analysts called a “modest market debut.” Shares opened at 22.01 Euros apiece on Monday, giving the Siemens spin-off a market value of 16 billion Euros – less than the previously estimated 22 billion Euros.
The spin-off Siemens Energy has decided to locate is corporate headquarters in Berlin, where the mother company was founded in 1847. CEO Christian Bruch was quick to point out the choice of Berlin will not distract from the important functions of other locations across Germany – notably Mühlheim and Erlangen.