Golar LNG JV Head Takes Leave of Absence Amid Graft Probe

LNG vessel owner Golar LNG reported on September 29 that the head of its Hygo Energy Transition unit, Eduardo Antonello, had taken a leave of absence. Antonello was accused earlier in the month of bribery by Brazilian prosecutors as part of the long-running 'Car Wash' corruption investigation centring on Brazil's state oil company Petrobras.

Hygo is a joint venture formerly known as Golar Power between Golar LNG and US investment firm Stonepeak Infrastructure Partners. It was set up in 2016 to develop, own and operated integrated LNG-based transportation, downstream solutions and associated terminal and power generation infrastructure. 

The company was due to have an initial public offering aiming to raise $450mn, but the listing was postponed on September 25. Petrobras has also said it is reviewing Hygo's bid to lease its LNG terminal in the Bahia state. Specifically, it said it would review Hygo's integrity analysis, a report it undertakes on all its suppliers.

"Mr Antonello has informed the company that in the coming period he'll concentrate his efforts to address recent allegations that have been made against him dating to a period before the formation of the company," Golar LNG said. "The Hygo board wants to emphasise that Mr 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."

Antonello's duties will be undertaken by the Hygo board.

'Car Wash' began in 2014 as a money-laundering investigation but it was later expanded to cover allegations of corruption at Petrobras, where executives allegedly accepted bribes in return for awarding construction contracts at inflated prices.