FLNG Hilli – Customer option exercise of TTF linked production
Golar LNG Limited ("Golar") announces today that Perenco Cameroon S.A. (“Perenco”) and Société Nationale des Hydrocarbures (“SNH”), together the customer of FLNG Hilli (“Hilli”), have elected to exercise 0.2 million tons per annum (“MTPA”) of their optional Dutch Title Transfer Facility (“TTF”) linked production volumes from 2023 to July 2026, continuing Hilli’s 2022 production volume of 1.4 million tons per annum.
The tariff for the 0.2 MTPA from January 2023 to July 2026 is linked to TTF gas prices. Based on current average 2023 TTF gas prices (
Hence Hilli will continue with three components to its Adjusted EBITDA generation; a fixed tariff, a Brent oil linked tariff, and a TTF gas price linked tariff. At current forward prices for 2023, Golar’s share of annual distributable Hilli Adjusted EBITDA is expected to be approximately
Golar CEO Karl Fredrik Staubo commented: “We are pleased to see continued TTF linked gas volumes from Hilli through the rest of the existing contract, maturing in July 2026. These confirmed additional volumes combined with Hilli’s outstanding operational track record will add significant free cash flow generation near term with no incremental capex”.
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 reflects 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,” 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
July 27, 2022
Enquiries:
Golar Management Limited: + 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