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Golar LNG Partners LP has announced its 2020 Annual General Meeting scheduled for September 24, 2020. The official Notice of Annual Meeting and associated documentation, including the Annual Report on Form 20-F, are available on the company's website. This meeting is crucial for shareholders as it will cover significant company matters and financial results.
Golar LNG Partners LP is based in Hamilton, Bermuda, and the announcement is disclosed in accordance with Section 5-12 of the Norwegian Securities Trading Act.
Golar LNG Partners LP (GMLP) and Golar Power Ltd. have initiated a cooperation agreement to develop customized hub-spoke LNG terminal solutions using GMLP's asset portfolio. This partnership aims to enhance the Partnership's re-contracting options and potentially yield higher returns than standard FSRU contracts. The existing Omnibus agreement between the entities will be terminated as part of this deal. CEO Karl Fredrik Staubo expressed optimism about leveraging Golar Power's expertise to fast-track global terminal opportunities.
Golar LNG Partners LP reported a strong performance for Q2 2020, with net income of $14.3 million, up from a loss of $33.1 million in Q1 2020. Operating income rose to $32.8 million, while distributable cash flow increased to $28.7 million, achieving a distribution coverage ratio of 20.09. The company secured an 81% utilization rate for LNGC Golar Maria and extended high-yield bond maturities. Despite COVID-19 impacts, Q2's results indicate resilience, and the company plans to refinance outstanding debt and secure maximum utilization of its fleet moving forward.