Golar enters into swap arrangements for 50% of 2024 Dutch Title Transfer Facility exposure
Golar LNG has entered into swap arrangements to hedge approximately 50% of its exposure to TTF-linked production for 2024 at a price of $51.20/MMBtu.
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Rhea-AI Summary
Golar LNG has entered into swap arrangements to hedge approximately 50% of its exposure to TTF-linked production for 2024 at a price of $51.20/MMBtu. This hedging secures visibility for part of its 2024 Distributable Adjusted EBITDA while maintaining potential for higher prices. Expected Hilli Adjusted EBITDA for 2024 is approximately $294 million, with annual debt service around $47 million. The company emphasizes that future performance is uncertain and subject to various risks, indicating that actual results may differ significantly from forecasts.
Positive
- Hedged 50% of TTF-linked production at $51.20/MMBtu enhances cash flow visibility.
- Expected Hilli Adjusted EBITDA for 2024 is approximately $294 million, providing a solid financial outlook.
Negative
- Dependence on TTF prices and Brent oil for revenue may expose Golar to market volatility.
- Significant risks and uncertainties associated with forward-looking statements could impact actual performance.
Details
News Market Reaction – GLNG
The recorded move for GLNG in the trading session of this news was +4.77%.
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Golar LNG Limited (“Golar”) announces today that it has entered into swap arrangements to hedge approximately
Based on TTF gas prices of
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 “will”, “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
August 24, 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
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