Golar LNG Ltd

GLNG

Equity

ISIN BMG9456A1009 / Valor 1246198

NASDAQ (2024-12-26)

USD 42.40-0.93%

Golar LNG Ltd
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About company

Golar LNG Ltd is a leading operator in the LNG industry, known for its expertise in developing floating terminals and producing LNG from these facilities efficiently. With a focus on speed of execution and cost-effectiveness, Golar has established itself as a key player in the market. The company's innovative approach to floating LNG terminals sets it apart from competitors, allowing Golar to deliver high-quality services to its clients.

Summarized from source with an LLMView SourceSector: Consumer Services

Distributable Adjusted EBITDA

Golar LNG Ltd's FLNG Hilli generated $68 million of Q1 2024 Distributable Adjusted EBITDA, with Golar’s share being $64 million. This represents a $20 million decrease compared to Q4 2023, primarily due to a reduction in realized TTF commodity swap gains and lower Brent oil prices.

FLNG Gimi Operations

FLNG Gimi, moored at the GTA Hub offshore Mauritania and Senegal, is ready to commence operations. Golar LNG Ltd received its first standby day rate cash payment from March 13, 2024, onwards. Pre-Commercial Operations Date contractual cash flows are expected to be deferred on the balance sheet and released over the contract term from the Commercial Operations Date.

Commissioning of FLNG Gimi

The client’s FPSO has arrived at the project site, with hookup and commissioning expected to complete in Q3 2024. FLNG Gimi’s commissioning period is expected to be approximately six months, concluding with the Commercial Operations Date, which will trigger the start of a 20-year Lease and Operate Agreement, unlocking around $3 billion of Adjusted EBITDA Backlog for Golar LNG Ltd.

Share Buyback and Dividends

Golar LNG Ltd purchased and cancelled 0.7 million shares during Q1 2024 at an average cost of $20.87 per share. As of March 31, 2024, 104.0 million shares are issued and outstanding. The Board of Directors approved a total Q1 2024 dividend of $0.25 per share, to be paid on or around June 17, 2024, with a record date of June 10, 2024.

FLNG Business Development

Golar LNG Ltd is focusing on the re-deployment of Hilli following the end of her current charter in July 2026 and securing commercial terms for a contemplated MKII FLNG. The framework agreement for potential FLNG deployment has progressed to detailed contract negotiations for an up to 20-year FLNG deployment, with a planned start-up during 2027.

Summarized from source with an LLMView Source

Key figures

80.9%1Y

235%3Y

201%5Y

Performance

31.5%1Y

39.2%3Y

63.1%5Y

Volatility