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Golar LNG jumps on potential deal with Rosneft
Golar LNG stock climbs after company says it's in talks with Russian oil company Rosneft
NEW YORK (AP) -- Shares of Golar LNG, a company that liquefies and ships natural gas, jumped Thursday after the company announced a possible deal with Russian state-controlled oil company Rosneft.
Golar is developing floating units that cool and liquefy natural gas from undersea gas fields for shipping. The companies said they signed a memorandum of understanding and will discuss deals that could involve Golar liquefying and shipping natural gas produced by Rosneft, one of the world's biggest natural gas producers.
Shares of Golar LNG Ltd. rose $3.60, or 12.2 percent, to $33.11 Thursday afternoon. The stock has lost more than half its value since mid-September, when it traded as high as $74.44.
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