Golar LNG Stock Price, News & Analysis

Golar LNG Limited announced the successful placement of USD 300 million in senior unsecured bonds in the Nordic market. The bonds, with a maturity in October 2025 and a 7.00% annual interest rate, will refinance existing convertible bonds due February 2022 and support general corporate purposes. An application will be submitted to list the bonds on the Oslo Stock Exchange. The bond issuance was coordinated by DNB Markets and Pareto Securities, with Danske Bank and Nordea Bank as joint lead managers.

Golar LNG Limited has engaged DNB Markets and Pareto Securities as Global Coordinators for a potential USD 4-year senior unsecured bond issue, pending market conditions. Proceeds will refinance maturing convertible bonds and support general corporate purposes. The company has also secured terms for two new bank financing facilities: a $200 million Revolving Credit Facility to replace a $100 million facility, and a $182 million refinancing facility for the Golar Tundra. Both facilities are subject to final documentation and will lower the interest rates significantly.

Golar LNG Limited held its 2021 Annual General Meeting on August 10, 2021, in Hamilton, Bermuda. Key highlights included the presentation of audited financial statements for the year ended December 31, 2020. Resolutions passed at the meeting featured the re-election of directors Tor Olav Trøim, Daniel Rabun, Thorleif Egeli, Carl Steen, Niels G. Stolt-Nielsen, Lori Wheeler-Naess, and Georgina E. Sousa. Additionally, Ernst & Young LLP was re-appointed as auditors, and the Board's remuneration was approved at a maximum of US$1,750,000 for 2021.

Golar LNG reported a record net income of $471.4 million for Q2 2021, driven by the successful sale of Hygo Energy and Golar Partners to New Fortress Energy at a significant gain. The company recorded an Adjusted EBITDA of $67 million, maintaining 100% uptime for Hilli, which now has increased capacity utilization. The FLNG Hilli's operational cash flows are expected to rise with Brent crude prices. Golar's debt was reduced by $102 million, enhancing liquidity. Overall, Golar anticipates substantial cash generation improvement due to favorable LNG market conditions.

Golar LNG will announce its 2nd Quarter 2021 results before NASDAQ opens on August 9, 2021. A webcast presentation is scheduled for 3:00 P.M. (London Time) the same day, accessible through the Golar LNG website. Participants may join via a live webcast or teleconference. The Q&A will follow the presentation, limited to two questions per participant. Replay information will be provided for those unable to attend.

Golar LNG Limited has reached an agreement with Perenco Cameroon and Société Nationale des Hydrocarbures to enhance the capacity utilization of the FLNG Hilli Episeyo. Starting in 2022, this will add 200,000 tons of LNG, totaling 1.4 million tons for the year. The capacity increase could yield an additional US$26.1 million in Adjusted EBITDA, contingent on European gas prices. Additionally, there's potential for a further 400,000 tons of capacity from January 2023, which may generate an expected US$30.4 million.

Golar retains an 86.9% interest in the incremental EBITDA generated.

Golar LNG Limited has announced that its 2021 Annual General Meeting will take place on August 10, 2021. The company provided a link to the Notice of Annual General Meeting and its Annual Report on Form 20-F, which can be accessed on their official website. This annual meeting is an important event for shareholders, providing insights into the company's performance and future plans.

The press release was issued on June 28, 2021, from Hamilton, Bermuda.

Golar LNG Limited has announced its 2021 Annual General Meeting (AGM) scheduled for August 10, 2021. Shareholders should note that the record date for voting at the AGM is set for June 16, 2021. The agenda, notice, and other materials related to the meeting will be distributed ahead of time.

The announcement comes from Golar LNG Limited in Hamilton, Bermuda, dated June 8, 2021.

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.