Golar LNG Ltd reports developments as a floating liquefied natural gas company that designs, converts, owns and operates marine infrastructure for natural gas liquefaction. News commonly covers FLNG operations and projects, including FLNG Hilli, FLNG Gimi and the MKII FLNG, along with long-term contract activity, production performance, construction progress and commercial pipeline updates.
Company releases also address quarterly and annual results, financing facilities, senior notes, share repurchases, dividends, annual general meeting materials and Form 20-F filing announcements. The recurring disclosures connect operating performance in the FLNG segment with capital allocation, debt financing and governance updates for GLNG shareholders.
Golar LNG Limited held its 2020 Annual General Meeting on September 24, 2020, in Hamilton, Bermuda, where key financial statements for FY 2019 were presented. The meeting resulted in the re-election of several directors, including Tor Olav Trøim and Daniel Rabun. Additionally, amendments were made to the Company’s Bye-law 58 regarding meeting quorum. Ernst & Young LLP was re-appointed as auditors, with directors authorized to determine their remuneration. The total remuneration for the Board of Directors was approved, capped at US$1,750,000 for 2020.
The company acknowledges the allegations against Hygo's CEO, Eduardo Antonello, which involve conduct prior to his tenure at Hygo. To ensure compliance with its culture, Hygo is conducting a review. The press release also contains forward-looking statements regarding the company's operations, cautioning that actual results may vary due to risks and uncertainties. No guarantees of future performance are made.
Hygo emphasizes the importance of its culture of compliance and will investigate to confirm adherence to these standards.
Golar LNG Limited announces that its joint venture, Hygo Energy Transition Ltd. (NASDAQ: HYGO), has initiated an initial public offering (IPO) of 23,100,000 common shares, priced between $18.00 and $21.00 per share. Additionally, Hygo plans to grant underwriters a 30-day option to purchase another 3,465,000 shares. Following the IPO, Golar is expected to own 50,000,000 shares in Hygo. Morgan Stanley and Goldman Sachs are the joint book-running managers for the offering.
Golar LNG Limited has announced its 2020 Annual General Meeting (AGM) scheduled for September 24, 2020. A comprehensive Notice of AGM and the Company’s Annual Report on Form 20-F are available on its official website. This meeting is vital for shareholders to engage with the company’s strategic direction and performance.
The details can be accessed at http://www.golarlng.com. The announcement was made from Hamilton, Bermuda on August 31, 2020.
Golar LNG announced that Hygo Energy Transition Ltd., a joint venture with Stonepeak Infrastructure Partners, has filed a Registration Statement on Form F-1 with the SEC for a proposed IPO. Hygo aims to list its common shares on NASDAQ under the ticker symbol “HYGO.” The company focuses on developing integrated LNG transportation and infrastructure solutions for underserved markets, promoting environmentally friendly energy. Morgan Stanley and Goldman Sachs are leading the offering, which will be made solely via a prospectus. The registration has been filed but is not yet effective.
Golar LNG reported Q2 operating revenues of $102.2 million, a 6% increase from Q2 2019, driven by strong performance in FLNG, particularly from Hilli Episeyo, which maintained 100% commercial uptime. Adjusted EBITDA rose 69% to $67.2 million. However, a net loss attributable to Golar LNG was $155.6 million, worsening by 38% compared to Q1. The company benefited from high LNG prices for upstream offerings while addressing challenges in financing new liquefaction due to low LNG prices. Cash as of June 30 stood at $265.2 million.