Golar LNG (GLNG) is not a shipping company. It is an LNG infrastructure company. So I have few options on where to dissect company results Well, this board fits, as I have a GLNG position.
One big news item, that seems to have slipped under the radar. Golar LNG have placed an order for a fourth FLNG. There has been no discussion on a perspective customer which makes things a little fluid. Will Nigeria ever get around to FID on a viable FLNG project? Will BP need another vessel for Mauritania-Senegal? Will Cameroon jump back in? Australia?
GLNG are in a slightly stressed period now. FLNG Hilli has headed to Seatrium yard for upgrades. That means all of GLNG’s revenue is from one resource - FLNG Gimi. Sure, there are two FLNGs which are scheduled to start some long term contracts in a couple of years. But, in the interim, there are capex costs and financing to cover the buildout of those assets. A contract on FLNG asset #4 would help.
In the meantime, … I wait. GLNG represents about 1.6%of self managed port