Golar LNG stock climbs after company says it's in talks with Russian oil company Rosneft

MarketsAssociated Press

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.

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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.