Du är här

2014-05-28

Stolt-Nielsen Limited: Stolt-Nielsen Gas Takes Major Stake in LNG Logistics Start-Up

LONDON, April 28, 2014 -
Stolt-Nielsen Limited (Oslo Børs: SNI) announced today that Stolt-Nielsen Gas
Ltd. (SNG), SunLNG Holding Ltd. (SunLNG) and LNGaz Ltd. have agreed to form a
new start-up focused on the development of small-scale LNG liquefaction and
logistics services in Bécancour, Québec, Canada. The new joint venture, to be
named Stolt LNGaz Ltd., will have a Canadian operating subsidiary, Stolt
LNGaz Inc. The transaction represents an initial investment of US$ 20 million
with SNG owning 50% of the venture.

Stolt LNGaz intends to provide clean burning natural gas to remote mining
operations and other industrial customers in northeast Canada at a
substantially lower cost than diesel and residual fuel oil, which are the
primary energy sources today. Under the current plan, gas delivered via
existing pipelines terminating in southeast Canada will be liquefied at a
small-scale plant to be constructed by Stolt LNGaz. The fuel will then be
transported primarily via LNG carriers to a number of customers and hubs
across northeast Canada. Cost advantages are expected to enable surplus
production to be exported to northern Europe. Stolt LNGaz expects the total
capital investment to be approximately US$ 570 million over the next four
years in infrastructure and services development, partly funded with debt
financing secured by long-term customer contracts.

Commenting on the transaction, Niels G. Stolt-Nielsen, Chief Executive Officer
of Stolt-Nielsen Limited, said: "This start-up investment leverages
Stolt-Nielsen's expertise in marine logistics. We are pleased to be
partnering with SunLNG, along with the experienced energy entrepreneurs,
Bjørn Torkildsen and Rodney Semotiuk."

Contacts:

Jan Chr. Engelhardtsen
Chief Financial Officer
UK +44 (0) 20 7611 8972
j.engelhardtsen@stolt.com

Jens F. Grüner-Hegge
VP Corporate Finance
UK +44 (0) 20 7611 8985
j.gruner-hegge@stolt.com

About Stolt-Nielsen Limited
Stolt-Nielsen Limited (SNL or the "Company") is a leading global provider of
integrated transportation solutions for bulk liquid chemicals, edible oils,
acids, and other specialty liquids through its three largest business
divisions, Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers.
Stolt Sea Farm produces and markets high quality turbot, sole, sturgeon, and
caviar. Stolt-Nielsen Gas develops opportunities in LPG and LNG shipping and
distribution. Stolt-Nielsen Limited is listed on the Oslo Stock Exchange.

Forward-Looking Statements

This press release contains "forward-looking statements" based on information
available to the Company on the date hereof, and the Company assumes no
obligation to update any such forward-looking statement. These statements may
be identified by the use of words like "anticipate," "believe," "estimate,"
"expect," "intend," "may," "plan," "project," "will," "should," "seek," and
similar expressions. The forward-looking statements reflect the Company's
current views and assumptions and are subject to risks and uncertainties. The
Company does not represent or warrant that the Company's actual future
results, performance or achievements will be as discussed in the those
statements, and assumes no obligation to, and does not intend to, update any
of those forward-looking statements other than as may be required by
applicable law.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

---------------------------------------

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Stolt-Nielsen Limited via Globenewswire

HUG#1789030

Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.