Golar LNG names new chairman

Sir Frank ChapmanLondon-based Golar LNG Ltd. (GLNG) has appointed Sir Frank Joseph Chapman to the Board of Directors and as the company's Chairman, effective 19 September 2014.

Sir Frank Chapman has worked 40 years in the oil and gas industry, culminating in a 12-year period as Chief Executive of BG Group plc. Under Sir Frank's leadership, BG Group grew from the modest UK-based exploration and production interests of the old British Gas into an international integrated oil and gas major. Operating profits grew from US$50 million in 1996 to more than $8 billion in 2012.

Sir Frank is currently a non-executive director of Rolls-Royce plc and chairman of their safety and ethics committee. He was knighted in the 2011 Queen's Birthday Honours List for services to the oil and gas industries.

The Board says that Sir Frank shares its ambitions for GLNG to become an integrated midstream LNG company.

Last month, the company reported a second-quarter net loss of US$24.2 million, which the board attributed to the sale of the Golar Igloo to Golar LNG Partners LP. The loss was partly offset by improved utilization and earnings of the Golar Viking and the Golar Seal LNG carriers.

Other members of GLNG's executive team include Seadrill chairman John Fredriksen (CEO), Oistein Dahl (COO), and Georgina E. Sousea (Secretary).

On 19 September, Kate Blankenship, Hans Petter Aas, Tor Olav Trøim, and Georgina E. Sousawere re-elected as company Directors, at the annual general meeting.

Earlier this month, Fredricksen sold more than 80% of his shares in the company, and Bloomberg reports that GLNG share price has jumped 22% since Frederiksen's sell-off. Former Fredriksen advisor Tor Olav Troeim became GLNG's third-largest shareholder in July (3.6%).

Golar LNG is a liquefied natural gas shipping company formed in May 2001 and now operating a fleet of 13 LNG carriers. It is registered in Hamilton, Bermuda.

Related news:

Golar LNG bags Kuwait deal, 12 August 2013

Finlayson named BG CEO, 13 December 2012

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