Since Golar LNG (GLNG) sold its TFDE-powered fleet to CLCO, the company has very little exposure to shipping, and thus I don’t consider them a shipping company. The company announced Q2 2024 results last week. Among the main items
- Announcement of a new FLNG project in Argentina with Pan American Energy.
- Some progress on Gimi FLNG. The vessel has been ready to start processing natural gas to LNG since January 2024, but BP & Kosmos Energy have fallen behind in having the FPSO in place for hook-up. The parties are working on pre-COD options to get FLNG Gimi validated for production and also compensate FLNG Gimi owners in the interim.
- FLNG Hilli keeps on producing LNG in Cameroon. The revenue side is about $56M, plus another $36M from the tolling side. On a comparitive basis - the shipping side is $3.1M (Golar Arctic and Fuji vessel). The latter is the designated vessel for the Mark II FLNG effort.
- Speaking of Mark II FLNG project, Golar are finalizing a deal with a yard. If FID is agreed upon by the end of 2024, the asset could be ready by 2027. Interestingly, Golar are also in discussions with the yard for an option on an additional FLNG Mark II with delivery in 2028!
- GLNG is also working hard on the getting Macaw subsidiary on its feet. This is the flare gas-to-LNG project.
- Dividend of 25c/sh declared.