Singapore-based Swiber has paved the path to entering the floating liquefied natural gas (LNG) segment as it entered into a term sheet for the proposed acquisition of Interlink Power & Energy.
The term sheet is intended to set out the preliminary framework for further discussions between Swiber and Interlink shareholders in respect of the proposed acquisition.
Interlink, an investment company incorporated in Western Australia, provides bridging power for up to five years through its rental power solution using dual-fuel turbines. The company’s services also include engineering, procurement, construction and operation and maintenance services to clients in remote locations.
Swiber believes that the acquisition of Interlink will enable its position to enter the power sector and the floating LNG segment. It aims to provide a solution for the supply of both short-term and long-term power, from land-based to floating LNG power solutions.
Under the term sheet, the parties will enter exclusive negotiations over a 45-day period concerning the terms of the acquisition.