Satisfaction of Conditions Precedent for 20-year charter of MK II FLNG to Southern Energy in Argentina, confirming $8 billion EBITDA backlog before commodity exposure and inflationary adjustments
Golar LNG (NASDAQ: GLNG) announced that all conditions precedent are satisfied for the 20-year charter of its 3.5 MTPA MKII FLNG to Southern Energy S.A. in Argentina. The charter establishes a $8 billion net earnings backlog over 20 years (equal to $400 million annual EBITDA) before commodity exposure and inflationary adjustments.
The MKII is under conversion at CIMC Raffles in Yantai with delivery targeted by year-end 2027 and operations in 2028. Total conversion budget is ~$2.2 billion, of which $1.0 billion has been spent and funded through equity. The project holds a 30-year LNG export authorization and qualifies under Argentina’s Large Investments Incentive Regime (RIGI).
Golar LNG (NASDAQ: GLNG) ha annunciato che tutte le condizioni precedenti sono soddisfatte per la charter di 20 anni della sua MKII FLNG da 3,5 MTPA a Southern Energy S.A. in Argentina. La charter genera un backlog di utile netto di 8 miliardi di dollari su 20 anni (equivalente a 800 milioni di dollari di EBITDA annuo) prima delle esposizioni alle materie prime e degli aggiustamenti inflazionistici.
La MKII è in fase di conversione presso CIMC Raffles a Yantai, con consegna prevista entro la fine del 2027 e operatività nel 2028. Il budget totale di conversione è di ~2,2 miliardi di dollari, dei quali 1,0 miliardo di dollari è stato speso e finanziato tramite equity. Il progetto detiene una autorizzazione all’esportazione di LNG di 30 anni e rientra nel Regime di Incentivi per Grandi Investimenti (RIGI) dell’Argentina.
Golar LNG (NASDAQ: GLNG) anunció que se han cumplido todas las condiciones precedentes para la charter a 20 años de su MKII FLNG de 3,5 MTPA a Southern Energy S.A. en Argentina. La charter establece un backlog de ingresos netos de 8.000 millones de dólares a lo largo de 20 años (equivalente a 800 millones de dólares de EBITDA anual) antes de la exposición a commodities y ajustes inflacionarios.
El MKII está en conversión en CIMC Raffles en Yantai con entrega prevista para a finales de 2027 y operaciones en 2028. El presupuesto total de conversión es de ~2,2 mil millones de dólares, de los cuales 1,0 mil millones de dólares ya se han gastado y están financiados mediante equity. El proyecto tiene una autorización de exportación de LNG de 30 años y califica bajo el Régimen de Incentivos a Grandes Inversiones (RIGI) de Argentina.
Golar LNG (NASDAQ: GLNG)는 아르헨티나의 Southern Energy S.A.에 대한 20년 계약을 위한 3.5 MTPA MKII FLNG의 모든 예비 조건이 충족되었음을 발표했습니다. 이 계약은 20년간 80억 달러의 순이익 채권(backlog)을 창출하며(원자재 노출 및 인플레이션 조정 전 EBITDA 연간 4억 달러에 해당)
MKII는 야타이의 CIMC Raffles에서 전환 중이며 인도 시점은 2027년 말로 목표하고 있으며 운영은 2028년에 시작됩니다. 총 전환 예산은 약 22억 달러로 그 중 10억 달러가 이미 지출되었고 지분으로 조달되었습니다. 이 프로젝트는 30년 LNG 수출 허가를 보유하며 아르헨티나의 대규모 투자 인센티브 제도(RIGI)에 해당합니다.
Golar LNG (NASDAQ : GLNG) a annoncé que toutes les conditions préalables sont satisfaites pour la charte de 20 ans de son MKII FLNG de 3,5 MTPA auprès de Southern Energy S.A. en Argentine. La charte établit un retard de bénéfices nets de 8 milliards de dollars sur 20 ans (équivalent à 800 millions de dollars d’EBITDA annuel) avant exposition aux matières premières et ajustements liés à l’inflation.
Le MKII est en cours de conversion chez CIMC Raffles à Yantai avec une livraison visée d’ici fin 2027 et des opérations en 2028. Le budget total de conversion est d’environ 2,2 milliards de dollars, dont 1,0 milliard de dollars ont déjà été dépensés et financés par fonds propres. Le projet détient une autorisation d’exportation de LNG de 30 ans et est éligible au Régime d’Incitations aux Grands Investissements (RIGI) en Argentine.
Golar LNG (NASDAQ: GLNG) gab bekannt, dass alle Voraussetzungen für die 20-jährige Charter seiner MKII FLNG mit 3,5 MTPA an Southern Energy S.A. in Argentinien erfüllt sind. Die Charter schafft einen Nettoertrag-Backlog von 8 Milliarden US-Dollar über 20 Jahre (entspricht 800 Millionen US-Dollar EBITDA pro Jahr vor Rohstoffrisiken und inflationsbedingten Anpassungen).
Die MKII befindet sich derzeit bei CIMC Raffles in Yantai in der Umbauphase, mit Lieferung vorgesehen bis zum Jahresende 2027 und Betrieb ab 2028. Das Gesamtu Budget für die Umbauarbeiten beträgt ca. 2,2 Milliarden US-Dollar, davon 1,0 Milliarde US-Dollar bereits ausgegeben und durch Eigenkapital finanziert. Das Projekt besitzt eine 30-jährige LNG-Exportlizenz und qualifiziert sich im Rahmen des argentinischen Large-Investments-Incentive-Regimes (RIGI).
Golar LNG (NASDAQ: GLNG) أعلن أن جميع الشروط المسبقة مستوفاة لعقد إيجار لمدة 20 عامًا لـ MKII FLNG سعة 3.5 MTPA مع Southern Energy S.A. في الأرجنتين. العقد يخلق تراكم صافي أرباح بقيمة 8 مليارات دولار على مدى 20 عامًا (ما يعادل 800 مليون دولار EBITDA سنويًا) قبل تعرّض السلع والتعديلات التضخمية.
MKII قيد التحويل في CIMC Raffles في يانتاي مع التسليم المستهدف بحلول نهاية عام 2027 وتتشغّل في 2028. ميزانية التحويل الإجمالية حوالي ~2.2 مليار دولار، منها 1.0 مليار دولار تم صرفها وتم تمويلها من خلال حقوق الملكية. المشروع يحمل تفويض تصدير LNG لمدة 30 عامًا ويستوفي شروط نظام الحوافز للاستثمارات الكبيرة في الأرجنتين (RIGI).
Golar LNG (NASDAQ: GLNG) 宣布，阿根廷 Southern Energy S.A. 的 MKII FLNG 3.5 MTPA 租约的所有先决条件均已满足，为期20年。该租约在20年内形成 80亿美元的净盈利积压(backlog)（相当于每年 4亿美元的EBITDA，排除大宗商品价格波动和通胀调整的影响）。
MKII 正在 CIMC Raffles 的烟台进行改造，交付目标为 2027 年底，并于 2028 年投入运营。总改造预算约为 22亿美元，其中 10亿美元已支出并通过股权融资。该项目拥有 30 年 LNG 出口授权，并符合阿根廷的大型投资激励计划（RIGI）。
- $8.0B 20-year net earnings backlog to Golar
- $400M implied annual EBITDA before commodity and inflation adjustments
- MKII delivery targeted by year-end 2027 with operations in 2028
- Project has 30-year LNG export authorization and RIGI qualification
- Total conversion budget ~$2.2B with $1.0B spent to date
- Backlog figure is stated before commodity exposure and inflationary adjustments
Insights
Long-term 20-year charter secures sizable, visible EBITDA backlog and broad regulatory clearance for deployment in Argentina.
The 20-year charter of the 3.5 MTPA MKII FLNG to Southern Energy S.A. creates a stated
Key dependencies and risks include the remaining conversion capex (total budget ~
Hamilton, Bermuda – October 23, 2025- Golar LNG Limited (Nasdaq: “GLNG” or “Golar”) is pleased to announce today that all conditions precedent and customary closing conditions in connection with the 20-year charter of Golar’s 3.5MTPA MKII FLNG to Southern Energy S.A. (“SESA”) in Argentina have been satisfied. This milestone follows the execution of definitive agreements announced on May 2nd, 2025, and the Final Investment Decision announced on August 6th, 2025.
The 20-year charter of the MKII FLNG solidifies
The MKII FLNG, with a nameplate capacity of 3.5 MTPA, is currently undergoing conversion at CIMC Raffles Shipyard in Yantai, China. The unit is on schedule for delivery by year end 2027, with operations expected to commence in 2028. The total conversion budget is approximately
The project has received all key governmental approvals, including an unrestricted 30-year LNG export authorization in Argentina, and qualification as Strategic Investment under the Large Investments Incentive Regime (“RIGI”).
Golar’s CEO, Karl Fredrik Staubo commented: “Following today’s confirmation of the 20-year charter for the MKII FLNG in Argentina, each of Golar’s three existing FLNGs now holds 20 years of earnings visibility, representing a combined EBITDA backlog of
Now that our existing fleet is fully contracted for the next 20+ years, we will increase our focus on new FLNG growth opportunities. Golar’s position as the only proven provider of FLNG as a service enables us to drive value for all stakeholders through attractive gas monetization solutions.”
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflect management’s current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as “may,” “could,” “should,” “would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue,” “subject to” or the negative of these terms and similar expressions are intended to identify such forward-looking statements.
These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Golar LNG Limited undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable law.
Investor Questions: +44 207 063 7900
Karl Fredrik Staubo - CEO
Eduardo Maranhão - CFO
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
FAQ
What does the MKII FLNG charter mean for GLNG earnings backlog?
When will the MKII FLNG be delivered and start operations for GLNG (GLNG)?
How much is the MKII FLNG conversion budget and how much has GLNG spent?
Does the MKII FLNG project have regulatory approvals in Argentina for GLNG?
How does GLNG retain commodity upside from the MKII FLNG charter?
