Welcome to our dedicated page for Golar LNG news (Ticker: GLNG), a resource for investors and traders seeking the latest updates and insights on Golar LNG stock.
Golar LNG Ltd (GLNG) generates frequent news flow through its activities in floating liquefied natural gas (FLNG), long-term LNG contracts and capital markets transactions. Company announcements and Form 6-K filings highlight developments in its FLNG fleet, including operational updates for FLNG Hilli and FLNG Gimi and progress on the 3.5 MTPA MKII FLNG conversion project in China. These updates often cover cargo offload milestones, performance optimization periods and preparations for redeployment and life extension work.
Investors following GLNG news can track key commercial milestones such as 20-year charter agreements with Southern Energy S.A. in Argentina, including Final Investment Decision and satisfaction of conditions precedent for the MKII FLNG charter. News releases detail the fixed charter hire components, commodity-linked tariff structures and the associated multi-year EBITDA or earnings backlogs that underpin Golar’s long-term business outlook.
Golar LNG’s news flow also includes financing and balance sheet events. Recent announcements describe a $1.2 billion asset-backed bank facility for FLNG Gimi, a private offering of senior unsecured notes due 2030, and convertible senior notes used to fund growth and share repurchases. Dividend declarations, share buyback program approvals and updates on legacy FSRU operate and maintain agreements are also disclosed in periodic interim results.
On this GLNG news page, readers can review company-issued press releases and related regulatory disclosures that cover operational performance, chartering activity, financing transactions and corporate actions. For those monitoring the LNG and FLNG space, Golar’s news provides insight into the evolution of floating liquefaction projects, long-term LNG export arrangements and the company’s approach to capital structure and commodity-linked earnings exposure.
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Golar LNG announces that Cool Company Ltd. (CoolCo) has successfully completed a $275 million private placement, boosting its initial equity value to $400 million. Major stakeholders include Eastern Pacific Shipping (38%) and Golar LNG (31%). Shares will be listed on the N-OTC, with plans for Euronext Growth Oslo in February 2022. CoolCo aims to own 8 TFDE LNG ships and position itself as a growth vehicle in the LNG shipping sector amidst a strong market outlook.
Golar LNG announced an update regarding the formation of Cool Company Ltd. (CoolCo), following investor feedback. A $250 million private placement is set to finance the acquisition of 8 TFDE LNG carriers from Golar. Eastern Pacific Shipping has pre-subscribed for $150 million. The placement will offer new shares at $10 during a book building period from January 27 to January 28, 2022. Successful completion may lead to a listing on Euronext Growth Oslo in Q1 2022, with shares also listed on N-OTC immediately post-placement.
Golar LNG announced the establishment of Cool Company Ltd. (CoolCo), intending to separate its 8 TFDE LNG carriers. The expected market capitalization for CoolCo is approximately $375 million, with Golar maintaining a stake worth $125 million. CoolCo plans to raise $250 million through a private placement, with Eastern Pacific Shipping guaranteeing $150 million. A $570 million sustainability-linked bank facility is also secured for the acquisition of 6 carriers. The process is projected to complete by Q1 2022, subject to market conditions.
Golar announces the formation of Cool Company Ltd. (CoolCo) and a pre-commitment agreement with Eastern Pacific Shipping (EPS) to expand its LNG operations. CoolCo plans to acquire Golar's 8 TFDE LNG carriers and list on Euronext Growth in Q1 2022. EPS has pre-subscribed $150 million in equity, becoming CoolCo's largest shareholder. The transaction is expected to improve Golar's corporate structure while retaining significant exposure to the LNG market. Adjusted EBITDA from Golar's FLNG segment is projected to quadruple over the next 2-3 years.
Golar LNG has announced its 3rd Quarter 2021 results, which will be discussed in a webcast presentation scheduled for November 9, 2021, at 3:00 PM London Time. Participants are encouraged to join the Q&A session via a conference call, and updated call-in numbers have been provided due to technical issues with the previous platform. The conference also includes a limit of two questions per participant. Presentation materials will be available for download on Golar's Investor Relations website.
Golar LNG reported total operating revenues of $106.6 million and an Adjusted EBITDA of $74.5 million for Q3 2021, reflecting a 12% and 30% year-over-year increase, respectively. A net loss attributed to Golar reached $91.0 million. The FLNG Hilli maintained 100% commercial uptime, with increased earnings projected due to favorable LNG prices. Golar secured $682 million in new financing, improving liquidity. Future prospects include a significant earnings backlog from FLNG Gimi, with expected Adjusted EBITDA generation to quadruple in the next 2-3 years.
Golar LNG will announce its 3rd Quarter 2021 results prior to the NASDAQ opening on November 9, 2021. A webcast presentation is scheduled for 3:00 PM London Time on the same day, accessible through the company’s Investor Relations page. Participants are encouraged to join via the live link, with guidance provided for the Q&A session afterward. Dial-in information is available for those wishing to ask questions. Replay options will be available post-event for seven days.
Golar LNG announced it has hedged part of its TTF price exposure for Q1 2022, anticipating $21.2 million in net income from an incremental 0.2 MTPA production at $28/MMBtu. A change of $1/MMBtu in TTF affects net income by $0.4 million. Additionally, the company expects $15.5 million in net income from Brent-linked production, assuming oil prices at $83/bbl. Golar secured a one-year charter generating approximately $36.5 million in revenue, supported by increasing LNG freight rates due to demand and new regulations.
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.
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