Golar LNG Limited Interim results for the period ended March 31, 2026
Rhea-AI Summary
Golar LNG (NASDAQ:GLNG) reported strong Q1 2026 results with net income attributable to Golar of $84 million and total operating revenues of $138 million, up 920% and 120% year over year. Adjusted EBITDA reached $106 million and Total Golar Cash was $1.0 billion.
FLNG Hilli offloaded its 150th cargo and secured a 20‑year Argentina contract with expected annual Adjusted EBITDA of $285 million plus commodity upside. FLNG Gimi invoiced a day rate 19% above contract. MKII FLNG conversion, a 3.5 MTPA project, remains on time, fully equity funded to date, with an anticipated $8 billion Adjusted EBITDA backlog over 20 years. Golar is targeting an order for a fourth FLNG in 2026 and has initiated a strategic review, engaging Goldman Sachs to explore options including a potential sale, merger, asset divestitures or structural changes.
Golar declared a quarterly dividend of $0.25 per share, payable June 10, 2026, to shareholders of record on June 1, 2026.
Positive
- Net income attributable to Golar rose to $83.6 million, up 920% year over year
- Total operating revenues increased 120% year over year to $137.6 million
- Adjusted EBITDA grew 158% year over year to $105.6 million, up $15 million vs Q4 2025
- Total Golar Cash reached $1.0 billion as of March 31, 2026
- MKII FLNG $2.2 billion conversion is fully equity funded to date with $1.2 billion spent
- Long-term FLNG contracts support $8 billion MKII and $5.7 billion Hilli Adjusted EBITDA backlogs
- Q1 2026 dividend of $0.25 per share declared, payable June 10, 2026
- FLNG Gimi invoiced Q1 day rate 19% above contractual day rate
- Strategic review launched with Goldman Sachs to evaluate value-maximizing alternatives
Negative
- Golar’s share of contractual debt increased to $2.7 billion, up 81% year over year
- Net debt position stood at $1.7 billion after cash as of Q1 2026
- Hilli Cameroon contract ends Q3 2026 with a $350 million upgrade and repositioning budget
- Production from FLNG Gimi expected to be lower over the next two quarters
- $1.18 billion of the $1.2 billion FLNG Gimi bank facility remains outstanding
- Strategic review may not result in any transaction or defined outcome
News Market Reaction – GLNG
In the May 20 session, GLNG declined 0.34%, reflecting a mild negative market reaction. Argus tracked a trough of -9.9% from its starting point during tracking. Our momentum scanner triggered 26 alerts that day, indicating elevated trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 07 | Results timing note | Neutral | -2.4% | Announced date and webcast details for Q1 2026 results. |
| Apr 02 | AGM notice | Neutral | +0.8% | Confirmed 2026 AGM date and availability of 2025 Form 20-F. |
| Mar 26 | AGM scheduling | Neutral | +1.8% | Announced timing and record date for 2026 AGM. |
| Mar 26 | Annual report filing | Neutral | +1.8% | Filed Form 20-F for year ended December 31, 2025. |
| Mar 25 | Strategic review | Neutral | +1.8% | Launched strategic review and appointed Goldman Sachs as advisor. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news flow has been largely procedural (AGM, filings, strategic review) with relatively modest single-day price reactions.
Over the past few months, GLNG’s disclosures focused on governance, reporting, and strategic positioning. A March 25, 2026 announcement launched a strategic review with Goldman Sachs as advisor. Subsequent notices in late March and early April covered the 2026 AGM and filing of the 2025 Form 20-F. An April Q1 2026 results scheduling release preceded today’s full interim report, which now provides the detailed financial and project-level context hinted at in earlier filings.
Key Terms
adjusted ebitda financial
sales-type lease financial
derivative instruments financial
mark-to-market financial
interest rate swaps financial
mmbtu technical
mtpa technical
liquefaction capacity technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
First Quarter financial summary
| (in thousands of $) | Q1 2026 | Q1 2025 | % Change |
| Net income attributable to Golar LNG Ltd | 83,578 | 8,197 | |
| Total operating revenues | 137,554 | 62,502 | |
| Adjusted EBITDA 1 | 105,576 | 40,936 | |
| Golar's share of contractual debt 1 | 2,705,245 | 1,494,615 |
Recent highlights
- Golar LNG Limited (“Golar” or “the Company”) reports Q1 2026 net income attributable to Golar of
$84 million inclusive of$37 million of non-cash items1, Adjusted EBITDA1 of$106 million and Total Golar Cash1 of$1.0 billion .
- FLNG Hilli offloaded 150th cargo.
- FLNG Gimi overproduced
19% compared to contractual committed volume.
- MKII construction on time and on budget.
- Southern Energy S.A. (“SESA”) and Securing Energy for Europe (“SEFE”) sign an 8-year LNG supply agreement for up to two million tonnes of LNG per annum, commencing 2027.
- Commercial pipeline expanding and advancing at pace following recent Middle East events. Target to order 4th FLNG within 2026.
- Divested non-core investment in OLT Offshore Toscana S.p.A. and exited remaining FSRU Operation and Maintenance contract.
- Goldman Sachs engaged to evaluate strategic alternatives for the Company.
- Declared dividend of
$0.25 per share for the quarter, payable on June 10, 2026, to shareholders of record on June 1, 2026. 101.8 million shares issued and outstanding as of March 31, 2026.
CEO Comment
“Q1 saw solid operational performance with continued
Geopolitical events continuing in Ukraine and Russia combined with significant escalation in the Middle East has again driven commodity prices higher and put pressure on the global energy markets. We see strengthening demand for energy security and diversification. This reflects on Golar’s business by driving strong momentum in commercial discussions for incremental FLNG projects as well as increased earnings for our commodity exposure. We are ramping up activities to order our 4th FLNG within 2026 and to secure attractive long term FLNG projects.”
Summary and review of financial results
Business Performance(3)
| 2026 | 2025 | ||
| Jan-Mar | Oct-Dec | Jan - Mar | |
| (in thousands of $) | Total | Total | Total |
| Net income | 101,804 | 23,148 | 12,939 |
| Income tax expense | 923 | 1,901 | 179 |
| Net income before income taxes | 102,727 | 25,049 | 13,118 |
| Depreciation and amortization | 16,305 | 12,203 | 12,638 |
| Unrealized (gain)/loss on oil and gas derivative instruments | (33,501) | 20,553 | 25,001 |
| Other non-operating income | (3,314) | — | — |
| Interest income | (10,319) | (10,926) | (8,699) |
| Interest expense, net | 24,380 | 23,636 | — |
| (Gains)/losses on derivative instruments, net | (3,587) | (2,269) | 6,795 |
| Other financial items, net | 1,409 | 11,412 | 2,292 |
| Net income from equity method investments | 1,213 | 1,032 | (10,209) |
| Sales-type lease receivable in excess of interest income 1 | 10,263 | 10,314 | — |
| Adjusted EBITDA 1 | 105,576 | 91,004 | 40,936 |
| 2026 | |||||
| Jan-Mar | |||||
| (in thousands of $) | FLNG | Corporate and other | Total Segment Reporting | Elimination | Consolidated Reporting |
| Liquefaction services revenue | 56,222 | — | 56,222 | — | 56,222 |
| Sales-type lease revenue | 49,977 | — | 49,977 | — | 49,977 |
| Vessel management fees and other revenues | 25,628 | 5,727 | 31,355 | — | 31,355 |
| Vessel operating expenses | (36,662) | (2,070) | (38,732) | — | (38,732) |
| Administrative expenses | (347) | (12,338) | (12,685) | — | (12,685) |
| Project development expenses | (2,759) | 87 | (2,672) | — | (2,672) |
| Realized gain on oil and gas derivative instruments (2) | 9,683 | — | 9,683 | — | 9,683 |
| Other operating income/(loss) | 2,425 | (260) | 2,165 | — | 2,165 |
| Sales-type lease receivable in excess of interest income 1 | 10,263 | — | 10,263 | (10,263) | — |
| Adjusted EBITDA 1 | 114,430 | (8,854) | 105,576 | (10,263) | 95,313 |
| 2025 | |||||
| Oct-Dec | |||||
| (in thousands of $) | FLNG | Corporate and other | Total Segment Reporting | Elimination | Consolidated Reporting |
| Liquefaction services revenue | 58,623 | — | 58,623 | — | 58,623 |
| Sales-type lease revenue | 44,536 | — | 44,536 | — | 44,536 |
| Vessel management fees and other revenues | 23,325 | 6,328 | 29,653 | — | 29,653 |
| Vessel operating expenses | (42,217) | (9,894) | (52,111) | — | (52,111) |
| Administrative expenses | 95 | (5,354) | (5,259) | — | (5,259) |
| Project development expenses | (2,235) | (785) | (3,020) | — | (3,020) |
| Realized gain on oil and gas derivative instruments (2) | 11,856 | — | 11,856 | — | 11,856 |
| Other operating gain/(loss) | 2,143 | (5,731) | (3,588) | — | (3,588) |
| Sales-type lease receivable in excess of interest income 1 | 10,314 | — | 10,314 | (10,314) | — |
| Adjusted EBITDA 1 | 106,440 | (15,436) | 91,004 | (10,314) | 80,690 |
| 2025 | |||
| Jan-Mar | |||
| (in thousands of $) | FLNG | Corporate and other | Total |
| Total operating revenues | 55,688 | 6,814 | 62,502 |
| Vessel operating expenses | (18,785) | (9,685) | (28,470) |
| Administrative expenses | (588) | (8,999) | (9,587) |
| Project development expenses | (2,351) | (968) | (3,319) |
| Realized gain on oil and gas derivative instruments (2) | 21,213 | — | 21,213 |
| Other operating income | — | (1,403) | (1,403) |
| Adjusted EBITDA 1 | 55,177 | (14,241) | 40,936 |
(2) The line item “Realized and unrealized gain/(loss) on oil and gas derivative instruments” in the Unaudited Consolidated Statements of Operations relates to income from the FLNG Hilli Liquefaction Tolling Agreement (“LTA”) and the natural gas derivative which is split into: “Realized gain on oil and gas derivative instruments” and “Unrealized (loss)/gain on oil and gas derivative instruments”.
Golar reports today Q1 2026 net income of
The
- TTF and Brent oil linked derivative instruments’ unrealized mark-to-market (“MTM”) gains of
$34 million ; and
$3 million MTM gain on interest rate swaps.
During Q1 2026, we recognized a total of
$4 million realized gain on the Brent oil linked derivative instrument; and
$6 million realized gain in respect of fees for the TTF linked production.
A total of
$30 million gain on the Brent oil linked derivative asset; and
$4 million gain on the TTF linked natural gas derivative asset.
Corporate/Other
Operating revenues and costs under corporate and other items in Q1 2026 are attributable to one FSRU Operation and Maintenance agreement in respect of the Italis LNG. This contract concluded in April 2026.
Balance sheet and liquidity
Total Golar Cash1 as of March 31, 2026, was
Asset under development of
Recent key financial transactions and updates
In March 2026, we sold our
Golar also entered into a shareholder's agreement for a
In March 2026, a formal process to evaluate strategic alternatives to accelerate our FLNG growth pipeline and maximize shareholder value was initiated. In connection with this process, we appointed Goldman Sachs International as our financial advisor. The strategic review includes a comprehensive evaluation of Golar’s platform, including our industry leading FLNG technology, long-term contract backlog, attractive commodity exposure and growth pipeline. Potential alternatives to be explored include, but are not limited to, a sale of the Company, a merger or other business combination, divestiture of assets, or further optimization of the corporate structure. The Company will target solutions that unlock shareholder value and enable faster roll-out of Golar’s FLNG growth pipeline. There can be no assurance that the strategic review will result in any transaction or other strategic outcome, nor have we established a definitive timetable for the completion of this process.
Liquefaction projects overview
In aggregate, across FLNG Hilli and FLNG Gimi, we have 5.1MTPA of liquefaction capacity on the water, a further 3.5MTPA currently under conversion and long-lead items for a fourth unit reserved.
FLNG Hilli
Maintained leading operational track record, offloading her 150th cargo in April and 152nd cargo this week.
The existing contract in Cameroon ends in Q3 2026. During Q2 2026, a contractor was appointed to disconnect FLNG Hilli from its mooring in July and prepare the vessel for towing to Seatrium's shipyard in Singapore where upgrades and life extension work will be carried out. Towing tugs have been contracted, prefabrication engineering is well underway, most major procurement is complete and Golar has deployed a site supervision team with ongoing presence at the yard. Of the
Key commercial terms for FLNG Hilli’s 20-year agreement with SESA in Argentina include Adjusted EBITDA1 to Golar of
There is significant potential for liquidity to be released through debt refinancing alternatives for FLNG Hilli on the back of the existing contractual debt1 of
FLNG Gimi
FLNG Gimi has offloaded 33 cargoes and production remains ahead of schedule. Reflecting this, the Q1 invoiced day rate was
Golar owns
The Company continues to actively engage with the GTA partners to identify and develop value enhancing initiatives for the GTA project to further improve the project’s unit economics, including potential for further debottlenecking of the FLNG Gimi nameplate capacity and field operating cost optimizations.
Of the
MKII FLNG 3.5MTPA conversion
Conversion work at CIMC Raffles yard remains on schedule and on budget. All major long-lead items have either arrived at the yard, are in transit or under control; fabrication is at near peak levels of activity and over 10 million work hours have been completed. Upon completion in Q4 2027, the FLNG unit will then sail to Argentina with contract start-up scheduled for H2 2028. Golar has spent
The 20-year contract of the MKII FLNG is expected to deliver
Southern Energy S.A.
SESA is a company formed to enable LNG exports from Argentina. SESA is owned by a consortium of leading Argentinian gas producers including Pan American Energy (
Golar’s
Building on a Heads of Agreement signed in December 2025, in March 2026, SESA finalized an 8-year agreement to sell up to 2 million tonnes per annum of LNG to German state-owned SEFE. SEFE has been the LNG off taker from FLNG Hilli since 2022 and will continue its collaboration with Golar via SESA as FLNG Hilli moves from Cameroon to Argentina. With LNG deliveries scheduled to commence in 2027, SEFE will be Argentina’s first long-term LNG customer globally. Long‑term LNG offtake arrangements from regions outside traditional supply areas contribute materially to the resilience of SEFE’s portfolio by further reducing exposure to concentrated geopolitical risks.
A dedicated pipeline from Vaca Muerta, Neuquen to the Gulf of San Matías, offshore Rio Negro is planned to provide both the FLNG Hilli and MKII FLNG with year-round natural gas supply. SESA is responsible for providing the feed gas, while SMP will develop the pipeline. During Q1 2026, several EPC proposals were received for the construction of the pipeline and compressor stations. A pipeline financing facility with a syndicate of banks is currently under discussion.
FLNG business development
Golar’s FLNG offering is becoming increasingly compelling in a more energy-constrained and geopolitically uncertain world. The combination of monetizing stranded and competitive gas reserves, attractive liquefaction capex, operational flexibility, speed to market, and typically shorter shipping distances that avoid contested maritime routes underpins this advantage. As the world’s only independent provider of FLNG-as-a-service, Golar also enables oil majors and national oil companies to reduce their capital intensity. Offtakers and resource owners are keen to diversify sources of supply following events in the Middle East. This has created a new sense of urgency to existing commercial discussions and introduced new opportunities. Recent progress across multiple projects potentially suited to a similarly specced FLNG provides sufficient support for committing capital to a fourth FLNG. Accordingly, key long-lead items were reserved in May 2026.
Investor conference call and webcast
We will host a conference call to discuss our financial and operating results for the first quarter 2026 on Wednesday, May 20, 2026, at 8 a.m. Eastern time / 7 a.m. Central time / 1 p.m. London time / 2 p.m. Oslo time. A listen-only webcast of the call and an accompanying slide presentation may be accessed through our website at www.golarlng.com. Following the call, a recording will be made available on our website.
About Golar LNG
Golar LNG Limited (NASDAQ: GLNG) is a LNG infrastructure company. Through its 80-year history, the company has pioneered maritime LNG infrastructure including the world’s first Floating LNG liquefaction terminal (FLNG) and Floating Storage and Regasification Unit (FSRU) projects based on the conversion of existing LNG carriers. Today Golar is focused on its FLNG business where it remains the only proven provider of FLNG as a service.
Non-GAAP measures
In addition to disclosing financial results in accordance with U.S. generally accepted accounting principles (US GAAP), this earnings release and the associated investor presentation contains references to the non-GAAP financial measures which are included in the table below. We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business and measuring our performance.
This report also contains certain forward-looking non-GAAP measures for which we are unable to provide a reconciliation to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside of our control, such as oil and gas prices and exchange rates, as such items may be significant. Non-GAAP measures in respect of future events which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied to Golar’s unaudited consolidated condensed financial statements.
These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures and financial results calculated in accordance with GAAP. Non-GAAP measures are not uniformly defined by all companies and may not be comparable with similarly titled measures and disclosures used by other companies. The reconciliations as at March 31, 2026 and for the three months ended March 31, 2026, from these results should be carefully evaluated.
| Non-GAAP measure | Closest equivalent US GAAP measure | Adjustments to reconcile to primary financial statements prepared under US GAAP | Rationale for adjustments |
| Performance measures | |||
| Adjusted EBITDA | Net income/(loss) | +/- Income taxes + Depreciation and amortization + Impairment of long-lived assets +/- Unrealized (gain)/loss on oil and gas derivative instruments +/- Other non-operating (income)/losses +/- Net financial (income)/expense +/- Net (income)/losses from equity method investments +/- Net loss/(income) from discontinued operations + Sales-type lease receivable in excess of interest income | Increases the comparability of total business performance from period to period and against the performance of other companies by excluding the results of our equity investments, removing the impact of unrealized movements on embedded derivatives, depreciation, impairment charge, financing costs, tax items, discontinued operations and including sales-type lease receivable in excess of interest income. |
| Liquidity measures1 | |||
| Contractual debt | Total debt (current and non-current), net of deferred financing costs | +/-Variable Interest Entity (“VIE”) consolidation adjustments +/-Deferred financing costs | During the year, we consolidate a lessor VIE for our Hilli sale and leaseback facility. This means that on consolidation, our contractual debt is eliminated and replaced with the lessor VIE debt. Contractual debt represents our debt obligations under our various financing arrangements before consolidating the lessor VIE. The measure enables investors and users of our financial statements to assess our liquidity, identify the split of our debt (current and non-current) based on our underlying contractual obligations and aid comparability with our competitors. |
| Total Golar cash | Golar cash based on GAAP measures: + Cash and cash equivalents + Restricted cash (current and non-current) | -VIE restricted cash | We consolidate a lessor VIE for our sale and leaseback facility. This means that on consolidation, we include restricted cash held by the lessor VIE. Total Golar Cash represents our cash and cash equivalents and restricted cash (current and non-current) before consolidating the lessor VIE. Management believes that this measure enables investors and users of our financial statements to assess our liquidity and aids comparability with our competitors. |
| Adjusted interest expense | Interest expense, net | +/-Variable Interest Entity (“VIE”) consolidation adjustments +Capitalized deemed interest -Deferred financing costs amortization | During the year, we consolidate a lessor VIE for our Hilli sale and leaseback facility. This means that on consolidation, our contractual debt interest expense is eliminated and replaced with the lessor VIE debt interest expense. Adjusted interest expense removes the effects of VIE consolidation, adjusted for capitalized deemed interest on qualifying assets and deferred financing costs amortization. Management believes this measure provides useful supplemental information to investors by enhancing period-over-period and peer comparability and facilitating an assessment of our capital structure. |
(1) Please refer to reconciliation below for Golar’s share of contractual debt
Adjusted EBITDA backlog: This is a non-GAAP financial measure and represents the share of contracted fee income for executed contracts less forecasted operating expenses for these contracts/agreements. Adjusted EBITDA backlog should not be considered as an alternative to net income / (loss) or any other measure of our financial performance calculated in accordance with U.S. GAAP.
Non-cash items: Non-cash items comprised of impairment of long-lived assets, release of prior year contract underutilization liability, mark-to-market (“MTM”) movements on our TTF and Brent oil linked derivatives, listed equity securities and interest rate swaps (“IRS”) which relate to the unrealized component of the gains/(losses) on oil and gas derivative instruments, unrealized MTM (losses)/gains on investment in listed equity securities, gains on derivative instruments, net, and gain/(loss) on debt extinguishment.
Sales-type lease receivable in excess of interest income: Sales-type lease receivable in excess of interest income represents the lease receivable principal amortization component of the total amounts invoiced under the FLNG Gimi sales-type lease which commenced in June 2025. We included the total invoiced amounts comprising both interest income and principal repayment in our FLNG Adjusted EBITDA to reflect the total cash earnings and economic performance of the FLNG Gimi. This amount is eliminated from the unaudited consolidated statement of operations in accordance with U.S. GAAP.
Abbreviations used:
FLNG: Floating Liquefaction Natural Gas vessel
FSRU: Floating Storage and Regasification Unit
MMBtu: Million British Thermal Units
MTPA: Million Tons Per Annum
Reconciliations - Liquidity Measures
Total Golar Cash
| (in thousands of $) | March 31, 2026 | December 31, 2025 | March 31, 2025 |
| Cash and cash equivalents | 1,007,085 | 1,151,221 | 521,434 |
| Restricted cash (current and non-current) | 53,889 | 64,196 | 172,879 |
| Less: VIE restricted cash | (15,721) | (11,429) | (16,745) |
| Total Golar Cash | 1,045,253 | 1,203,988 | 677,568 |
Contractual Debt
| (in thousands of $) | March 31, 2026 | December 31, 2025 | March 31, 2025 |
| Total debt (current and non-current) net of deferred financing costs | 2,726,664 | 2,758,024 | 1,418,816 |
| VIE consolidation adjustments | 288,313 | 283,886 | 251,728 |
| Deferred financing costs | 44,643 | 47,013 | 20,946 |
| Total Contractual Debt | 3,059,620 | 3,088,923 | 1,691,490 |
| Less: Keppel’s share of the Gimi debt | (354,375) | (360,000) | (196,875) |
| Golar’s share of Contractual Debt | 2,705,245 | 2,728,923 | 1,494,615 |
Please see Appendix A for the repayment profile for Golar’s Contractual Debt.
Adjusted interest expense
| 2026 | 2025 | 2025 | |
| (in thousands of $) | Jan-Mar | Oct-Dec | Jan-Mar |
| Interest expense, net | 24,381 | 23,636 | — |
| Capitalized deemed interest on qualifying assets | 19,341 | 17,521 | 14,675 |
| VIE consolidation adjustments (1) | 6,614 | 7,054 | 7,067 |
| Deferred financing costs | (2,370) | (2,427) | (964) |
| Adjusted interest expense | 47,966 | 45,784 | 20,778 |
| Less: Keppel’s share of the Gimi debt interest expense | (5,637) | (4,490) | (4,424) |
| Golar’s share of adjusted interest expense | 42,329 | 41,294 | 16,354 |
(1) This represents the difference between the VIE debt and our contractual debt
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 “if,” “subject to,” “believe,” “assuming,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “will,” “may,” “should,” “expect,” “could,” “would,” “predict,” “propose,” “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 based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. 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. Unless legally required, Golar undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise. Other important factors that could cause actual results to differ materially from those in the forward-looking statements include but are not limited to:
- our ability to fulfill our obligations under our commercial agreements, including the Liquefaction Tolling Agreement (the “LTA”) for the FLNG Hilli Episeyo (“FLNG Hilli”) and the 20-year Lease and Operate Agreement (the “LOA”) for the FLNG Gimi (“FLNG Gimi”);
- our ability to perform under our agreements with Southern Energy S.A. (“SESA”) for the deployment of FLNG Hilli and MKII FLNG (“MKII FLNG”) in Argentina, including the timely completion of redeployment, conversion and commissioning activities, as well as SESA’s ability to meet its commitments to us;
- our ability to complete the MKII conversion and FLNG Hilli refurbishment in a timely manner and within budget;
- any failure of shipyards to comply with work standards, project schedules, performance specifications or agreed prices;
- an increase in tax liabilities in the jurisdictions where we are currently operating, have previously operated or expect to operate;
- our ability to obtain additional financing or refinance existing debt on acceptable terms or at all;
- the outcome and timing of the Company’s strategic review process, including the possibility that the review may not result in any transaction, strategic alternative, or other outcome; the potential for disruption to operations, commercial activities, financings or relationships during the review process; the ability to identify and execute transactions or structural alternatives that enhance shareholder value or accelerate the FLNG growth pipeline; market, regulatory, financing, and counterparty conditions affecting any potential transaction; and costs, opportunity costs, management distraction, or other uncertainties associated with the process;
- global economic trends, competition, and geopolitical risks, including actions by the U.S. government, trade tensions or conflicts such as those between the U.S. and China or the U.S. and Iran, related sanctions, and the potential effects of any Russia-Ukraine or U.S.-Iran peace settlement on liquefied natural gas (“LNG”) supply and demand;
- continuing volatility in the global financial markets, including commodity prices, foreign exchange rates, interest rates and global trade policy;
- changes in general domestic and international political conditions, particularly where we operate, or where we seek to operate;
- changes in our ability to retrofit vessels as FLNGs, including the availability of donor vessels to purchase, lead times for critical components and the time it takes to build new vessels;
- any material decline or prolonged weakness in tolling rates for FLNGs;
- any failure of our contract counterparties to comply with their agreements with us or other key project stakeholders;
- continuing uncertainty resulting from potential future claims from our counterparties of purported force majeure under contractual arrangements, including our future projects and other contracts to which we are a party;
- our ability to close potential future transactions in relation to equity interests in our vessels or to monetize our remaining investments on a timely basis or at all;
- increases in operating costs as a result of inflation or trade policy, including salaries and wages, insurance, crew and related costs, repairs and maintenance and spares;
- claims made or losses incurred in connection with our continuing obligations;
- the ability of certain parties to meet their respective obligations to us, including indemnification obligations;
- changes to rules and regulations applicable to FLNGs or other parts of the natural gas and LNG supply chain;
- rules on climate-related disclosures promulgated by the European Union, including but not limited to disclosure of certain climate-related risks and financial impacts, as well as greenhouse gas emissions;
- actions taken by regulatory authorities that may prohibit the access of FLNGs to various ports and locations; and
- other factors listed from time to time in registration statements, reports or other materials that we have filed with or furnished to the Commission, including our annual report on Form 20-F for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (“U.S. SEC”) on March 26, 2026 (the “2025 Annual Report”).
As a result, you are cautioned not to rely on any forward-looking statements. Actual results may differ materially from those expressed or implied by such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless required by law.
Responsibility Statement
We confirm that, to the best of our knowledge, the unaudited consolidated financial statements for the three months ended March 31, 2026, which have been prepared in accordance with accounting principles generally accepted in the United States give a true and fair view of Golar’s unaudited consolidated assets, liabilities, financial position and results of operations. To the best of our knowledge, the report for the three months ended March 31, 2026, includes a fair review of important events that have occurred during the period and their impact on the unaudited consolidated financial statements, the principal risks and uncertainties and major related party transactions.
May 20, 2026
The Board of Directors
Golar LNG Limited
Hamilton, Bermuda
Investor Questions: +44 207 063 7900
Karl Fredrik Staubo - CEO
Eduardo Maranhão - CFO
Tor Olav Trøim (Chairman of the Board)
Benoît de la Fouchardiere (Director)
Carl Steen (Director)
Dan Rabun (Director)
Lori Wheeler Naess (Director)
Mi Hong Yoon (Director)
Niels Stolt-Nielsen (Director)
Stephen J. Schaefer (Director)
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Attachment
