Sale of LNGC Golar Arctic Marks Golar’s Exit From LNG Shipping Segment
Golar LNG (GLNG) has announced the sale of its last LNG carrier, the Golar Arctic, for $24 million, marking its complete exit from the LNG shipping segment. The transaction is expected to close in Q1 2025. This strategic move concludes Golar's 50-year presence in LNG shipping, which began in 1975.
The company's other vessel, Fuji LNG, completed its final cargo delivery in January 2025 and is preparing for conversion into a MKII FLNG at CIMC shipyard in China. This transformation completes Golar's transition into a focused FLNG infrastructure company, positioning it to expand its market-leading position in the FLNG sector.
Golar LNG (GLNG) ha annunciato la vendita del suo ultimo gasiera, il Golar Arctic, per 24 milioni di dollari, segnando la sua completa uscita dal segmento della navigazione GNL. Si prevede che la transazione si chiuda nel primo trimestre del 2025. Questa mossa strategica conclude i 50 anni di presenza di Golar nel settore della navigazione GNL, iniziato nel 1975.
Il'altra nave della compagnia, Fuji LNG, ha completato la sua ultima consegna di carico a gennaio 2025 ed è in fase di preparazione per la conversione in un MKII FLNG presso il cantiere navale CIMC in Cina. Questa trasformazione completa la transizione di Golar in un'azienda focalizzata sulle infrastrutture FLNG, posizionandola per espandere la sua posizione di leadership nel settore FLNG.
Golar LNG (GLNG) ha anunciado la venta de su último transportador de GNL, el Golar Arctic, por 24 millones de dólares, marcando su salida completa del segmento de transporte de GNL. Se espera que la transacción se cierre en el primer trimestre de 2025. Este movimiento estratégico concluye los 50 años de presencia de Golar en el transporte de GNL, que comenzó en 1975.
El otro buque de la compañía, Fuji LNG, completó su última entrega de carga en enero de 2025 y se está preparando para su conversión en un MKII FLNG en el astillero CIMC en China. Esta transformación completa la transición de Golar hacia una empresa centrada en la infraestructura FLNG, posicionándola para expandir su posición de liderazgo en el sector FLNG.
Golar LNG (GLNG)는 마지막 LNG 운반선인 Golar Arctic을 2400만 달러에 판매했다고 발표하며, LNG 운송 부문에서 완전히 철수했음을 알렸습니다. 거래는 2025년 1분기에 마감될 것으로 예상됩니다. 이 전략적 조치는 1975년에 시작된 Golar의 LNG 운송 부문에서의 50년 존재를 마무리합니다.
회사의 다른 선박인 Fuji LNG는 2025년 1월 마지막 화물 배송을 완료했으며, 중국 CIMC 조선소에서 MKII FLNG로 전환할 준비를 하고 있습니다. 이 변환은 Golar의 FLNG 인프라 회사로의 전환을 완성하여 FLNG 부문에서 시장 선도 위치를 확장할 수 있도록 합니다.
Golar LNG (GLNG) a annoncé la vente de son dernier transporteur de GNL, le Golar Arctic, pour 24 millions de dollars, marquant sa sortie complète du segment du transport de GNL. La transaction devrait être finalisée au premier trimestre 2025. Ce mouvement stratégique met fin à la présence de 50 ans de Golar dans le transport de GNL, qui a commencé en 1975.
L'autre navire de l'entreprise, le Fuji LNG, a achevé sa dernière livraison de cargaison en janvier 2025 et se prépare à être converti en MKII FLNG au chantier naval CIMC en Chine. Cette transformation complète la transition de Golar vers une entreprise d'infrastructure FLNG, la positionnant pour étendre sa position de leader sur le marché du FLNG.
Golar LNG (GLNG) hat den Verkauf seines letzten LNG-Transporters, der Golar Arctic, für 24 Millionen Dollar angekündigt, was den vollständigen Ausstieg aus dem LNG-Schifffahrtssegment markiert. Der Abschluss der Transaktion wird im ersten Quartal 2025 erwartet. Dieser strategische Schritt beendet Golars 50-jährige Präsenz in der LNG-Schifffahrt, die 1975 begann.
Das andere Schiff des Unternehmens, Fuji LNG, hat im Januar 2025 seine letzte Ladung geliefert und bereitet sich auf die Umwandlung in ein MKII FLNG im CIMC-Werft in China vor. Diese Transformation vollendet Golars Übergang zu einem fokussierten FLNG-Infrastrukturunternehmen und positioniert es, um seine marktführende Position im FLNG-Sektor auszubauen.
- Strategic exit from LNG shipping segment with $24M sale of Golar Arctic
- Complete transformation into focused FLNG infrastructure company
- Market-leading position in FLNG sector
- Loss of revenue stream from LNG shipping segment
Insights
The sale of Golar Arctic for
The timing of this exit from LNG shipping is particularly strategic. With the LNG carrier market experiencing cyclical volatility and increasing competition from newer, more efficient vessels, Golar's pivot to FLNG infrastructure positions it in a higher-margin, more specialized segment with stronger barriers to entry. The conversion of Fuji LNG into a MKII FLNG unit at CIMC shipyard demonstrates the company's commitment to expanding its FLNG capabilities.
The FLNG market presents compelling opportunities:
- Higher value-add services compared to traditional shipping
- Longer-term contracts providing stable cash flows
- Reduced exposure to shipping rate volatility
- Strategic positioning in the growing natural gas liquefaction infrastructure sector
This transformation positions Golar as a pure-play FLNG infrastructure company, potentially leading to improved valuation multiples as investors can better understand and value the focused business model. The exit from shipping also streamlines operations, reducing operational complexity and allowing management to concentrate resources on FLNG growth opportunities.
Golar LNG Limited (“Golar”) announces today that it has executed agreements to sell the 2003 built steam turbine LNG carrier, Golar Arctic. The sale price for the vessel is USD 24 million before transaction related expenses. The LNG carrier is unencumbered. The transaction is expected to close, and the vessel is to be handed over to its new owner, within Q1 2025. The Golar Arctic is the last LNG carrier in the Golar fleet. Following the vessel sale, Golar will have fully exited its legacy shipping business.
The LNG carrier Fuji LNG discharged its final cargo as an LNG carrier in January 2025, and has now arrived in China preparing to enter CIMC shipyard for conversion into a MKII FLNG later this month.
Golar CEO Karl Fredrik Staubo commented: “The sale of the Golar Arctic marks the conclusion of Golar’s planned exit from the LNG shipping segment, 50 years after taking delivery of our first LNG carrier in 1975. Over the last 50 years LNG shipping has been the foundation for Golar’s pioneering maritime LNG infrastructure advances, including FSRUs and FLNGs. Golar’s transition into a focused FLNG infrastructure company is now complete. We look forward to expanding our market leading FLNG position.”
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflect management’s current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as “may,” “could,” “should,” “would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue,” “subject to” or the negative of these terms and similar expressions are intended to identify such forward-looking statements.
These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Golar LNG Limited undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable law.
Hamilton, Bermuda
February 13, 2025
Investor Questions: +44 207 063 7900
Karl Fredrik Staubo - CEO
Eduardo Maranhão - CFO
Stuart Buchanan - Head of Investor Relations
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
FAQ
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What is happening to GLNG's Fuji LNG vessel in 2025?
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