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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 has signed a 20-year agreement with Pan American Energy to deploy a Floating Liquefied Natural Gas (FLNG) vessel in Argentina, leveraging the Vaca Muerta shale formation's gas resources. The project, commencing in 2027, aims to position Argentina as an LNG exporter. Key aspects include a Gas Sales Agreement with PAE, an FLNG charter agreement with Golar, and the utilization of Golar’s FLNG Hilli with a capacity of 2.45 mtpa. Golar will hold a 10% stake in Southern Energy S.A., a joint venture handling gas purchase and LNG sales. The project could expand to involve other Argentine gas producers.
Golar LNG (GLNG) will release its Q2 2024 financial results on August 15, 2024, before NASDAQ opens. A webcast presentation will follow at 1:00 P.M. London Time, accessible from the company's Investor Relations section on its website. Participants are encouraged to join the webcast via a listen-only link. Sell-side analysts can join the conference call to ask questions during the Q&A session by registering in advance to receive dial-in and passcode details. Presentation materials will be available for download from the Investor Relations section. A replay of the audio will be available for a time.
Golar LNG announced its 2024 Annual General Meeting (AGM) in a press release dated July 1, 2024. The AGM is scheduled for August 13, 2024. The Notice of Annual General Meeting, alongside the Company’s Annual Report on Form 20-F, is available on the company’s website. This information complies with Section 5-12 of the Norwegian Securities Trading Act.
Golar LNG , a leading player in the liquefied natural gas sector, announces its 2024 Annual General Meeting (AGM) to be held on Tuesday, August 13, 2024. Shareholders eligible to vote must be recorded by June 13, 2024. The official notice, agenda, and relevant materials will be provided before the meeting date. This announcement was made from Hamilton, Bermuda, on June 10, 2024, and complies with Section 5-12 of the Norwegian Securities Trading Act.
Golar LNG (NASDAQ: GLNG) has announced a cash dividend of $0.25 per share, with key dates as follows: last day including the right - June 6, 2024; ex-date - June 7, 2024; record date - June 10, 2024; and payment date - June 17, 2024. Due to the Central Securities Depository Regulation (CSDR) in Norway, dividends for shares registered in Norway's central securities depository (VPS) will be distributed in NOK on or about June 19, 2024. These details stem from the company's first-quarter 2024 report released on May 28, 2024.
Golar LNG reported Q1 2024 net income of $55 million, including $6 million of non-cash items, and an Adjusted EBITDA of $64 million. Operational highlights include FLNG Hilli's 100% uptime and FLNG Gimi's readiness to commence operations for BP. Golar repurchased 0.7 million shares at $20.87 each and declared a $0.25 per share dividend.
Revenue decreased by 18% from Q4 2023 to $64.9 million. The company is advancing FLNG contractual negotiations and exploring additional deployment opportunities. The Board approved a $0.25 per share dividend for Q1 2024. Balance sheet highlights include $548 million in cash and a total debt position of $587 million after accounting for cash reserves.
Business development is ongoing for the MKII FLNG project, with significant progress in potential refinancing and debt facilities. The focus remains on optimizing debt, expanding FLNG operations, and enhancing shareholder returns.
Golar LNG has released its 2023 Environmental, Social, and Governance (ESG) report. This comprehensive document highlights Golar's initiatives and strategies aimed at advancing the global energy transition to a lower carbon future. Key elements include the company's flagship Floating Liquefied Natural Gas (FLNG) business and the promising small-scale Flare to Gas (F2X) initiative, which captures and monetizes flare gas onshore. These efforts aim to benefit both the environment and the communities in which Golar operates. The full report is available on Golar's website.
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