Golar LNG Stock Price, News & Analysis

Golar LNG Limited has announced that its 2022 Annual General Meeting is scheduled for August 10, 2022. The record date for voting is set for June 16, 2022. Notice, agenda, and related materials will be distributed ahead of the meeting.

This announcement complies with the disclosure requirements of the Norwegian Securities Trading Act.

The agreement between Snam and Golar LNG Limited involves Snam acquiring 100% of Golar LNG NB 13 Corporation, which includes the Golar Tundra FSRU, for US$350 million. The floating unit enhances Italy's energy security, expected to contribute about 6.5% of domestic LNG needs, elevating regasification capacity to over 25% of demand. Delivery is anticipated in spring 2023, pending regulatory approvals. Golar aims to streamline operations towards FLNG projects, highlighting the strategic importance of this sale in Europe’s energy diversification efforts.

Golar LNG Limited reported a Q1 2022 net income of $345.2 million, surpassing last year's profits substantially. Adjusted EBITDA reached $93.4 million, supported by improved FLNG operations. The sale of 6.2 million shares of New Fortress Energy yielded $253 million in cash, increasing Golar's cash and securities position to $1.3 billion. A notable debt reduction of $0.5 billion was achieved through sales to CoolCo. FLNG Gimi's conversion is 83% complete, with expected earnings of $3.0 billion upon delivery. Golar anticipates annual Adjusted EBITDA exceeding $400 million within three years.

Golar LNG Limited signed a contract with Snam for the conversion of the LNG Carrier Golar Arctic into a floating storage and regasification unit (FSRU) at Portovesme, Sardinia. The contract, valued at 269 million euros, includes the vessel and capital expenditures for the conversion, which will enable storage of up to 140,000 cubic meters of LNG. The conversion is subject to Snam issuing a Notice-to-Proceed and is expected to take about two years to complete.

Golar LNG Limited has released its 2021 Environmental, Social and Governance (ESG) report, highlighting its commitment to facilitating the global energy transition towards lower carbon emissions. The report emphasizes the role of LNG as a transitional fuel alongside renewable energy sources while ensuring energy security. Golar has also invested in a carbon capture technology that has achieved proof of concept, with potential applications in future FLNG projects, contingent upon a successful commercial pilot. The full report is accessible on Golar's website.

Golar LNG will release its 1st Quarter 2022 results before NASDAQ opens on May 26, 2022. A webcast presentation is scheduled for 3:00 P.M. London Time on the same day, accessible through the Investor Relations section of their website. Analysts are encouraged to join via the listen-only link, and there will be a Q&A session following the presentation. Dial-in numbers are provided for teleconference participation. For those unable to attend live, a replay will be available for seven days after the event.

Golar LNG Limited has filed its Form 20-F for the fiscal year ending December 31, 2021, with the U.S. Securities and Exchange Commission. This report provides comprehensive details about the company's financial performance and operations.

Shareholders can download the Form 20-F through the link provided or access it on the company’s official website, www.golarlng.com. Hard copies are available for free upon request.

This announcement is in compliance with the Norwegian Securities Trading Act.

Golar LNG Limited has sold approximately one third of its 18.6 million shares in New Fortress Energy Inc., expecting to raise net proceeds of about $250 million. The company plans to use these funds for FLNG growth projects. CEO Karl Fredrik Staubo expressed enthusiasm for future FLNG prospects and confirmed Golar's intention to remain a supportive shareholder of NFE. The sale follows Golar's previous transaction involving Hygo Energy Transition, completed in April 2021.

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.