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.
Golar LNG (NASDAQ: GLNG) has announced a cash dividend of $0.25 per share to be paid on or around September 3, 2024. The record date is set for August 26, 2024. For shares registered in Norway's central securities depository (VPS), the payment date will be on or about September 5, 2024, due to the implementation of the Central Securities Depository Regulation (CSDR).
Key dates for the dividend distribution include:
- Last day including right: August 22, 2024
- Ex-date: August 23, 2024
- Record date: August 26, 2024
- Payment date: On or about September 3, 2024 (September 5 for VPS-registered shares)
The dividend will be paid in USD, except for VPS-registered shares, which will receive the dividend in NOK.
Golar LNG signed a 20-year FLNG deployment agreement in Argentina and made significant progress on other FLNG opportunities. The company also completed a commercial reset with BP for FLNG Gimi, potentially releasing up to $0.5 billion in liquidity. Golar reported Q2 2024 net income of $26 million and Adjusted EBITDA of $59 million, with an EBITDA backlog of roughly $11 billion.
FLNG Hilli Episeyo achieved $69 million in Q2 Distributable Adjusted EBITDA, while FLNG Gimi is expected to generate about $220 million in pre-COD compensation in 2024-2025. Golar entered a 20-year FLNG project with Pan American Energy in Argentina, potentially generating $300 million in annual Adjusted EBITDA. The company declared a $0.25 per share dividend for Q2. As of June 30, 2024, Golar had $604 million in cash and a net debt position of $594 million.
Golar LNG (GLNG) held its 2024 Annual General Meeting on August 13, 2024, in Hamilton, Bermuda. The company presented its audited consolidated financial statements for the year ended December 31, 2023. Key resolutions passed include:
1) Setting a maximum of seven Directors
2) Authorizing the Board to fill casual vacancies
3-9) Re-electing seven Directors: Tor Olav Troim, Daniel W. Rabun, Thorleif Egeli, Carl E. Steen, Niels G. Stolt-Nielsen, Lori Wheeler Naess, and Georgina E. Sousa
10) Re-appointing Ernst & Young LLP as auditors
11) Approving Board remuneration not exceeding US$2,050,000 for the year ended December 31, 2024
The meeting outcomes suggest continuity in Golar LNG's governance structure and financial oversight.
Golar LNG and bp have executed agreements for a commercial reset of FLNG Gimi, part of the Greater Tortue-Ahmeyim LNG Project. The reset simplifies contractual cash flows and settles previous disputes related to pre-commercial operations date (Pre-COD) payments. Key aspects include:
1. Updated schedule of daily payments until Commercial Operations Date (COD)
2. Step-up mechanisms based on project milestones
3. Payments secured by long stop dates
4. Potential lump sum bonus payments for achieving milestones
5. Pre-COD cash flows to be deferred and amortized over 20-year contract term
6. Settlement of all ongoing disputes, including arbitration
7. Agreement to start FLNG Gimi commissioning with LNG cargo before FPSO gas availability
Golar LNG has signed a 20-year agreement with Pan American Energy to deploy a Floating Liquefied Natural Gas (FLNG) vessel in Argentina, leveraging the Vaca Muerta shale formation's gas resources. The project, commencing in 2027, aims to position Argentina as an LNG exporter. Key aspects include a Gas Sales Agreement with PAE, an FLNG charter agreement with Golar, and the utilization of Golar’s FLNG Hilli with a capacity of 2.45 mtpa. Golar will hold a 10% stake in Southern Energy S.A., a joint venture handling gas purchase and LNG sales. The project could expand to involve other Argentine gas producers.
Golar LNG (GLNG) will release its Q2 2024 financial results on August 15, 2024, before NASDAQ opens. A webcast presentation will follow at 1:00 P.M. London Time, accessible from the company's Investor Relations section on its website. Participants are encouraged to join the webcast via a listen-only link. Sell-side analysts can join the conference call to ask questions during the Q&A session by registering in advance to receive dial-in and passcode details. Presentation materials will be available for download from the Investor Relations section. A replay of the audio will be available for a time.
Golar LNG announced its 2024 Annual General Meeting (AGM) in a press release dated July 1, 2024. The AGM is scheduled for August 13, 2024. The Notice of Annual General Meeting, alongside the Company’s Annual Report on Form 20-F, is available on the company’s website. This information complies with Section 5-12 of the Norwegian Securities Trading Act.
Golar LNG , a leading player in the liquefied natural gas sector, announces its 2024 Annual General Meeting (AGM) to be held on Tuesday, August 13, 2024. Shareholders eligible to vote must be recorded by June 13, 2024. The official notice, agenda, and relevant materials will be provided before the meeting date. This announcement was made from Hamilton, Bermuda, on June 10, 2024, and complies with Section 5-12 of the Norwegian Securities Trading Act.
Golar LNG (NASDAQ: GLNG) has announced a cash dividend of $0.25 per share, with key dates as follows: last day including the right - June 6, 2024; ex-date - June 7, 2024; record date - June 10, 2024; and payment date - June 17, 2024. Due to the Central Securities Depository Regulation (CSDR) in Norway, dividends for shares registered in Norway's central securities depository (VPS) will be distributed in NOK on or about June 19, 2024. These details stem from the company's first-quarter 2024 report released on May 28, 2024.
Golar LNG reported Q1 2024 net income of $55 million, including $6 million of non-cash items, and an Adjusted EBITDA of $64 million. Operational highlights include FLNG Hilli's 100% uptime and FLNG Gimi's readiness to commence operations for BP. Golar repurchased 0.7 million shares at $20.87 each and declared a $0.25 per share dividend.
Revenue decreased by 18% from Q4 2023 to $64.9 million. The company is advancing FLNG contractual negotiations and exploring additional deployment opportunities. The Board approved a $0.25 per share dividend for Q1 2024. Balance sheet highlights include $548 million in cash and a total debt position of $587 million after accounting for cash reserves.
Business development is ongoing for the MKII FLNG project, with significant progress in potential refinancing and debt facilities. The focus remains on optimizing debt, expanding FLNG operations, and enhancing shareholder returns.