Golar LNG announced Tuesday the board of directors of subsidiary Hygo Energy Transition has accepted the leave of absence request from Hygo’s CEO Eduardo Antonello “with immediate effect.”
In an update, Golar LNG said Antonello informed the company “he will concentrate his efforts to address recent allegations made against him,” relating to a period before the formation of Hygo, Kallanish Energy reports.
The CEO is accused of involvement in Brazil’s mammoth corruption scheme unveiled in the so-called Operação Lava Jato (Car Wash Operation). Brazilian authorities claim he received bribery while working at offshore exploration company Seadrill.
The probe looks into three contracts worth $2.7 billion signed between Sapura and state-run oil firm Petrobras in 2011. Sapura was formed in 2011 as a joint venture in Brazil between Seadrill and Malaysia’s Sapura Energy.
Hygo board emphasized that Antonello’s leave “is not in any way linked to any action or misconduct during his tenure at Hygo where he has been instrumental in building a very robust integrated LNG business, delivering cheaper and cleaner energy to the Brazilian market.” The board will temporarily take over his functions.
The joint venture between Golar LNG and infrastructure-focused private equity firm Stonepeak Infrastructure Partners has delayed its initial public offering (IPO) in the U.S. following the allegations. It had filed to raise $450 million by offering 23.1 million shares at a price range of $18-$21.
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