Welcome to our dedicated page for Golar LNG news (Ticker: GLNG), a resource for investors and traders seeking the latest updates and insights on Golar LNG stock.
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.
The Financial Supervisory Authority of Norway approved Golar LNG Limited's bond listing prospectus on March 11, 2022. This approval allows Golar to proceed with the bond issued under ISIN NO0011123432. The listing prospectus can be accessed on Golar's official website. The press release includes forward-looking statements regarding the company's operations and emphasizes the inherent risks and uncertainties affecting future performance. It cautions investors not to overly rely on these statements, which are subject to change as new information becomes available.
Golar LNG reported Q4 revenue of $115 million and Adjusted EBITDA of $93.5 million, reflecting strong earnings from FLNG Hilli linked to Brent oil, with a 45% rise to $12.9 million. The formation of CoolCo will slash Golar's debt by $833 million and enhance cash by $342 million. A new $250 million corporate facility boosts financial flexibility. FLNG Hilli achieved 100% commercial uptime, while FLNG Gimi is 80% complete. Expected TTF-linked earnings could lead to $400 million Adjusted EBITDA by 2024.
Golar LNG will release its 4th Quarter 2021 results on February 24, 2022, before the NASDAQ opens. A webcast presentation is scheduled for 3:00 PM (London Time) on the same day, with materials available on their Investor Relations section. Participants can join via a live webcast or teleconference, with specific dial-in numbers provided for various regions. The conference ID for participation is 1565029. A replay of the call will be available for 7 days post-event.
Golar LNG announces that Cool Company Ltd. (CoolCo) has successfully completed a $275 million private placement, boosting its initial equity value to $400 million. Major stakeholders include Eastern Pacific Shipping (38%) and Golar LNG (31%). Shares will be listed on the N-OTC, with plans for Euronext Growth Oslo in February 2022. CoolCo aims to own 8 TFDE LNG ships and position itself as a growth vehicle in the LNG shipping sector amidst a strong market outlook.
Golar LNG announced an update regarding the formation of Cool Company Ltd. (CoolCo), following investor feedback. A $250 million private placement is set to finance the acquisition of 8 TFDE LNG carriers from Golar. Eastern Pacific Shipping has pre-subscribed for $150 million. The placement will offer new shares at $10 during a book building period from January 27 to January 28, 2022. Successful completion may lead to a listing on Euronext Growth Oslo in Q1 2022, with shares also listed on N-OTC immediately post-placement.
Golar LNG announced the establishment of Cool Company Ltd. (CoolCo), intending to separate its 8 TFDE LNG carriers. The expected market capitalization for CoolCo is approximately $375 million, with Golar maintaining a stake worth $125 million. CoolCo plans to raise $250 million through a private placement, with Eastern Pacific Shipping guaranteeing $150 million. A $570 million sustainability-linked bank facility is also secured for the acquisition of 6 carriers. The process is projected to complete by Q1 2022, subject to market conditions.
Golar announces the formation of Cool Company Ltd. (CoolCo) and a pre-commitment agreement with Eastern Pacific Shipping (EPS) to expand its LNG operations. CoolCo plans to acquire Golar's 8 TFDE LNG carriers and list on Euronext Growth in Q1 2022. EPS has pre-subscribed $150 million in equity, becoming CoolCo's largest shareholder. The transaction is expected to improve Golar's corporate structure while retaining significant exposure to the LNG market. Adjusted EBITDA from Golar's FLNG segment is projected to quadruple over the next 2-3 years.
Golar LNG has announced its 3rd Quarter 2021 results, which will be discussed in a webcast presentation scheduled for November 9, 2021, at 3:00 PM London Time. Participants are encouraged to join the Q&A session via a conference call, and updated call-in numbers have been provided due to technical issues with the previous platform. The conference also includes a limit of two questions per participant. Presentation materials will be available for download on Golar's Investor Relations website.
Golar LNG reported total operating revenues of $106.6 million and an Adjusted EBITDA of $74.5 million for Q3 2021, reflecting a 12% and 30% year-over-year increase, respectively. A net loss attributed to Golar reached $91.0 million. The FLNG Hilli maintained 100% commercial uptime, with increased earnings projected due to favorable LNG prices. Golar secured $682 million in new financing, improving liquidity. Future prospects include a significant earnings backlog from FLNG Gimi, with expected Adjusted EBITDA generation to quadruple in the next 2-3 years.
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