Golar LNG Stock Price, News & Analysis

The recent press release from Golar outlines substantial advancements following the transactions with New Fortress Energy, closing on April 15, which have bolstered Golar's balance sheet. Shipping rates remain strong at approximately $70,000 per day, exceeding seasonal expectations. Golar anticipates an ongoing growth in LNG trade at a 4% CAGR, supporting future earnings. The company has appointed new CEO Karl Fredrik Staubo and CFO Eduardo Maranhao, facilitating leadership continuity. Financially, Golar reports a net income of $25.36 million, a significant recovery from a loss of $104.25 million in Q1 2020.

Golar LNG Limited has released its 2020 Environmental, Social, and Governance (ESG) report, highlighting its commitment to a lower carbon future and the role of LNG as a transitional fuel. The report outlines targets for 2030 in key areas like Health, Safety, Environmental Impact, and Governance. Key ambitions include a 25% reduction in carbon intensity and a lost-time injury frequency below 0.8. CEO Karl Fredrik Staubo emphasizes teamwork in achieving these goals, aiming to improve employee well-being and reduce emissions.

The board of Golar LNG Limited has appointed Karl Fredrik Staubo as the new CEO and Eduardo Maranhao as CFO as of May 13, 2021. Staubo, previously CEO of Golar LNG Partners LP and acting CFO, has significant experience in shipping and energy. Maranhao has been with Golar since 2015 and brings extensive international energy project experience. Chairman Tor Olav Troim expressed confidence in the new management team's ability to enhance operations and leverage opportunities in the LNG market, aiming for cheaper and cleaner energy solutions.

Golar LNG is set to announce its 1st Quarter 2021 results before the NASDAQ opens on May 20, 2021. A webcast presentation will occur at 3:00 P.M. London Time, with links available on its Investor Relations website. Participants are encouraged to join via the listen-only live webcast and can submit questions during the Q&A session that follows. Call-in details for teleconferencing are provided for international participants, with specific numbers for the UK, US, and Norway. Conference ID for the event is 6760904, and a replay will be accessible for 7 days post-event.

Golar LNG Limited has filed its Form 20-F for the fiscal year ending December 31, 2020, with the U.S. Securities and Exchange Commission. This form, which provides detailed information about the company's operations and financial performance, is accessible for download via their website. Shareholders can also request a hard copy at no cost. The announcement was made on April 22, 2021, from Hamilton, Bermuda, by the Board of Directors.

Golar LNG Limited (GLNG) has completed significant asset sales, receiving $50 million in cash and 18.6 million shares in New Fortress Energy Inc. (NFE), valued at $878 million. Additionally, Golar gained $81 million from its 32% stake in Golar LNG Partners LP (GMLP). Together, these transactions realize a book gain of approximately $740 million. In line with its corporate simplification efforts, Golar's board approved a $50 million share buy-back program to enhance shareholder value. The company aims to leverage its FLNG capabilities against rising energy prices.

The Board of Golar LNG has announced the resignation of CEO Iain Ross, effective with a standard 6-month notice, subject to mutual agreement on duration. The company is finalizing the sale of its 50% stake in Hygo Energy and 32% in Golar LNG Partners to New Fortress Energy for approximately USD 5 billion. This transaction aims to simplify the group's structure and enhance its balance sheet. The Board will promptly begin the search for a new CEO.

Golar LNG reported Q4 operating revenues of $118.7 million and net income of $9.5 million, while transactions with New Fortress Energy Inc. are set to enhance its corporate structure, realizing a combined enterprise value of $5 billion. The company will receive $131 million in cash and 18.6 million Class A shares in NFE worth around $910 million. A share buyback program of up to $50 million has been authorized to enhance shareholder value. With a focus on strengthening the balance sheet, Golar aims for improved results in the upcoming quarters.

Golar LNG plans to release its 4th Quarter 2020 results on February 25, 2021, before NASDAQ opens. A webcast presentation will occur at 3:00 P.M. London Time the same day. Participants can access the presentation via the Investor Relations section.

Sell-side analysts are encouraged to join the Q&A session via dial-in. Multiple ways to participate and listen to the event will be provided, including a replay service available for seven days post-event.