Golar LNG Switches CEO

Shipowner Golar LNG on May 10 announced the resignation of its CEO Gary Smith and his replacement by Oscar Spieler, who has been responsible for the Golar Hilli floating LNG project scheduled for deployment and start-up offshore Cameroon on behalf of UK-French firm Perenco during 2017.

Spieler, a naval architect, was CEO of Golar LNG from mid-2009 to mid-2011. He has worked for DNV, Bergesen, and for 16 years within the John Frederiksen-controlled Seatankers group that includes Golar.

Smith was Golar LNG CEO from 2006-09 and since 2015. Its board said he had "excellent standing in the LNG industry" and that it wished him well.

Nonetheless a company statement said: "An anticipated delinking of LNG prices from oil prices will also create additional demand for LNG. The traditional approach to executing LNG projects favoured by many oil majors may not cost effectively meet this new demand. The board of Golar has therefore decided to promote strategic organisational changes to ensure that the company is positioned to meet this demand."

It said that maximising utilisation and charter prices on its traditional LNG carriers and seeking use for its floating LNG import ships (FSRUs) would remain its priority, but that it would also focus on getting its first LNG vessel, Golar Hilli, "developed on time and within budget and successfully commenc[ing] operations" and capitalise its "position as one of the few credible companies able to develop future FLNG projects."

Doug Arnell, a CEO of Golar until January 2015, remains as a senior advisor to the company and would "assist Spieler to ensure strong leadership of Golar's commercial activities".

The statement added that Krzysztof Zielicki, a former strategy chief at Rosneft, has been hired "to structure the cooperation with Schlumberger."  Prior to his involvement in Rosneft, the quantum physicist spent 25 years in BP and was also Vice President of Development at TNK-BP.

Conversion of Golar Hilli to an FLNG vessel "is progressing well within budget and is on target for its scheduled delivery from the yard," said Golar LNG.

It was announced April 29 that US oilfield services giant Schlumberger would not be taking a 40% stake in Ophir Energy’s planned Fortuna FLNG project, offshore Equatorial Guinea, but that this would not affect a framework agreement already signed between Golar and Schlumberger regarding FLNG generally. Separately Golar LNG is eying a possible third FLNG project elsewhere in Africa, while continuing to work with Ophir on Fortuna FLNG - its second such project after Cameroon FLNG.

Mark Smedley