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Golar LNG Ltd (Nasdaq: GLNG) is one of the world’s largest independent owners and operators of marine-based LNG midstream infrastructure. The company specializes in the liquefaction, transportation, and regasification of natural gas. With over 40 years of experience in the LNG midstream sector, Golar LNG Ltd has built a reputation for providing flexible, low-cost, and fast-track LNG-based solutions designed to succeed even in low commodity price environments.
Golar LNG Ltd's core business includes the operation of a fleet of Floating Liquefaction Natural Gas vessels (FLNG) and Floating Storage and Regasification Units (FSRU). The company is actively involved in the entire LNG supply chain, from the well to the consumer, and operates several significant projects and joint ventures. One noteworthy partnership is with Schlumberger in a joint venture known as OneLNG, focused on floating liquefaction. Another key partnership is with Stonepeak, forming Golar Power, dedicated to the ownership and operation of FSRUs and power generation infrastructure.
Golar LNG Ltd continues to expand its innovative floating LNG assets to monetize natural gas reserves effectively and deliver LNG. The company's vision is to revolutionize the LNG market by leveraging its marine expertise and innovative solutions.
Financially, Golar LNG Ltd generates most of its revenue from the FLNG segment, which highlights the company's strategic focus on this profitable area. The company is listed on the Nasdaq stock market under the symbol GLNG, making it an accessible investment option for those interested in the LNG sector.
Recent achievements include several key financial and operational milestones. These developments underline Golar LNG Ltd's commitment to growth and maintaining its position as a leader in the LNG industry.
Golar LNG will announce its 2nd Quarter 2021 results before NASDAQ opens on August 9, 2021. A webcast presentation is scheduled for 3:00 P.M. (London Time) the same day, accessible through the Golar LNG website. Participants may join via a live webcast or teleconference. The Q&A will follow the presentation, limited to two questions per participant. Replay information will be provided for those unable to attend.
Golar LNG Limited has reached an agreement with Perenco Cameroon and Société Nationale des Hydrocarbures to enhance the capacity utilization of the FLNG Hilli Episeyo. Starting in 2022, this will add 200,000 tons of LNG, totaling 1.4 million tons for the year. The capacity increase could yield an additional US$26.1 million in Adjusted EBITDA, contingent on European gas prices. Additionally, there's potential for a further 400,000 tons of capacity from January 2023, which may generate an expected US$30.4 million.
Golar retains an 86.9% interest in the incremental EBITDA generated.
Golar LNG Limited has announced that its 2021 Annual General Meeting will take place on August 10, 2021. The company provided a link to the Notice of Annual General Meeting and its Annual Report on Form 20-F, which can be accessed on their official website. This annual meeting is an important event for shareholders, providing insights into the company's performance and future plans.
The press release was issued on June 28, 2021, from Hamilton, Bermuda.
Golar LNG Limited has announced its 2021 Annual General Meeting (AGM) scheduled for August 10, 2021. Shareholders should note that the record date for voting at the AGM is set for June 16, 2021. The agenda, notice, and other materials related to the meeting will be distributed ahead of time.
The announcement comes from Golar LNG Limited in Hamilton, Bermuda, dated June 8, 2021.
The recent press release from Golar outlines substantial advancements following the transactions with New Fortress Energy, closing on April 15, which have bolstered Golar's balance sheet. Shipping rates remain strong at approximately $70,000 per day, exceeding seasonal expectations. Golar anticipates an ongoing growth in LNG trade at a 4% CAGR, supporting future earnings. The company has appointed new CEO Karl Fredrik Staubo and CFO Eduardo Maranhao, facilitating leadership continuity. Financially, Golar reports a net income of $25.36 million, a significant recovery from a loss of $104.25 million in Q1 2020.
Golar LNG Limited has released its 2020 Environmental, Social, and Governance (ESG) report, highlighting its commitment to a lower carbon future and the role of LNG as a transitional fuel. The report outlines targets for 2030 in key areas like Health, Safety, Environmental Impact, and Governance. Key ambitions include a 25% reduction in carbon intensity and a lost-time injury frequency below 0.8. CEO Karl Fredrik Staubo emphasizes teamwork in achieving these goals, aiming to improve employee well-being and reduce emissions.
The board of Golar LNG Limited has appointed Karl Fredrik Staubo as the new CEO and Eduardo Maranhao as CFO as of May 13, 2021. Staubo, previously CEO of Golar LNG Partners LP and acting CFO, has significant experience in shipping and energy. Maranhao has been with Golar since 2015 and brings extensive international energy project experience. Chairman Tor Olav Troim expressed confidence in the new management team's ability to enhance operations and leverage opportunities in the LNG market, aiming for cheaper and cleaner energy solutions.
Golar LNG is set to announce its 1st Quarter 2021 results before the NASDAQ opens on May 20, 2021. A webcast presentation will occur at 3:00 P.M. London Time, with links available on its Investor Relations website. Participants are encouraged to join via the listen-only live webcast and can submit questions during the Q&A session that follows. Call-in details for teleconferencing are provided for international participants, with specific numbers for the UK, US, and Norway. Conference ID for the event is 6760904, and a replay will be accessible for 7 days post-event.
Golar LNG Limited has filed its Form 20-F for the fiscal year ending December 31, 2020, with the U.S. Securities and Exchange Commission. This form, which provides detailed information about the company's operations and financial performance, is accessible for download via their website. Shareholders can also request a hard copy at no cost. The announcement was made on April 22, 2021, from Hamilton, Bermuda, by the Board of Directors.
Golar LNG Limited (GLNG) has completed significant asset sales, receiving $50 million in cash and 18.6 million shares in New Fortress Energy Inc. (NFE), valued at $878 million. Additionally, Golar gained $81 million from its 32% stake in Golar LNG Partners LP (GMLP). Together, these transactions realize a book gain of approximately $740 million. In line with its corporate simplification efforts, Golar's board approved a $50 million share buy-back program to enhance shareholder value. The company aims to leverage its FLNG capabilities against rising energy prices.
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