Golar LNG´s Rise as a Key Player in the Growing FLNG Market
Golar LNG owns 2 out of 5 FLNG ships in the world, positioning it well for the projected LNG deficit in Europe.
The delivery of the second FLNG vessel in September and a 20-year contract with BP in 1Q24 should boost GLNG's short-term prospects. The doubling of revenues in 2024 is not reflected in the share price.
In the long term, GLNG is expected to benefit from Europe's increasing dependency on LNG, making it an attractive investment opportunity.
USD150 million buyback and newly announced first dividend in 5 years support the investment case.
Full investment case:
https://fitinvestmentideas.com/2023/08/28/golar-lngs-rise-as-a-key-player-in-the-growing-flng-market/
The delivery of the second FLNG vessel in September and a 20-year contract with BP in 1Q24 should boost GLNG's short-term prospects. The doubling of revenues in 2024 is not reflected in the share price.
In the long term, GLNG is expected to benefit from Europe's increasing dependency on LNG, making it an attractive investment opportunity.
USD150 million buyback and newly announced first dividend in 5 years support the investment case.
Full investment case:
https://fitinvestmentideas.com/2023/08/28/golar-lngs-rise-as-a-key-player-in-the-growing-flng-market/
NordicGuy
20.11.2023 kl 10:22
301
Big catalyst for GLNG: FLNG Gimi delivered from Seatrium Shipyard and sailing for GTA
19 Nov 2023
Golar LNG Limited (“Golar”) is pleased to announce that the FLNG Gimi departed Singapore’s Seatrium Shipyard today, November 19, 2023. FLNG Gimi is now sailing under its own propulsion, supported by an escort tug, toward BP’s purpose-built Greater Tortue Ahmeyim (“GTA”) hub offshore Mauritania and Senegal. The voyage is expected to take around 60 days, including refuelling stops in Mauritius prior to rounding the Cape of Good Hope and in Namibia prior to its arrival. Upon arrival, FLNG Gimi will notify BP that it is ready to be moored and connected to the hub, which is expected to trigger the start of contractual cash flows under the 20-year Lease and Operate Agreement on the GTA field.
Golar CEO Karl-Fredrik Staubo commented: “Golar is pleased to complete conversion of the FLNG Gimi. We would like to thank Seatrium, Black and Veatch and other suppliers for another successful FLNG delivery. With Gimi soon on site for start-up of operations Golar will double its operating fleet of FLNGs and bring total installed liquefaction capacity up to 5.1mtpa. We look forward to having FLNG Gimi in operation, and to continued long term cooperation with BP, Kosmos and the national oil and gas companies of Mauritania and Senegal. As the leading, independent owner and operator of FLNG units globally, we are committed to enabling monetization of attractive proven gas fields through our market leading operational track record, attractive capex/ton of liquefaction capacity and amongst the industry’s most efficient emissions/ton produced LNG.”
19 Nov 2023
Golar LNG Limited (“Golar”) is pleased to announce that the FLNG Gimi departed Singapore’s Seatrium Shipyard today, November 19, 2023. FLNG Gimi is now sailing under its own propulsion, supported by an escort tug, toward BP’s purpose-built Greater Tortue Ahmeyim (“GTA”) hub offshore Mauritania and Senegal. The voyage is expected to take around 60 days, including refuelling stops in Mauritius prior to rounding the Cape of Good Hope and in Namibia prior to its arrival. Upon arrival, FLNG Gimi will notify BP that it is ready to be moored and connected to the hub, which is expected to trigger the start of contractual cash flows under the 20-year Lease and Operate Agreement on the GTA field.
Golar CEO Karl-Fredrik Staubo commented: “Golar is pleased to complete conversion of the FLNG Gimi. We would like to thank Seatrium, Black and Veatch and other suppliers for another successful FLNG delivery. With Gimi soon on site for start-up of operations Golar will double its operating fleet of FLNGs and bring total installed liquefaction capacity up to 5.1mtpa. We look forward to having FLNG Gimi in operation, and to continued long term cooperation with BP, Kosmos and the national oil and gas companies of Mauritania and Senegal. As the leading, independent owner and operator of FLNG units globally, we are committed to enabling monetization of attractive proven gas fields through our market leading operational track record, attractive capex/ton of liquefaction capacity and amongst the industry’s most efficient emissions/ton produced LNG.”
NordicGuy
22.09.2023 kl 17:29
502
Very bullish Golar presenation from the Pareto conference:
The most interesting aspect of the GLNG presentation is that the current FLNG is running only at 58% capacity while the new FLNG that should be delivered any moment to Golar is contracted at 90% capacity from 1Q24. It means that the revenue and profits jump might be even higher than anticipated.
Golar presentation:
https://ml-eu.globenewswire.com/Resource/Download/a1c9ab6c-6a6b-429e-a487-3c115b1b3de0
The most interesting aspect of the GLNG presentation is that the current FLNG is running only at 58% capacity while the new FLNG that should be delivered any moment to Golar is contracted at 90% capacity from 1Q24. It means that the revenue and profits jump might be even higher than anticipated.
Golar presentation:
https://ml-eu.globenewswire.com/Resource/Download/a1c9ab6c-6a6b-429e-a487-3c115b1b3de0
NordicGuy
31.08.2023 kl 12:26
602
That is correct - it takes a long time to build a new FLNG. But it is not priced in at all. New vessels areall upside. An it will come GLNG is the global leader in this. And they see the least competition and LNG dependence of Europe as a great business case.
The current theme is that the new ship's arrival in September will double revenues, EBITDA, and profits is not priced - The 2024 EBITDA multiple is about 5 vs the historical range of 8-10. All this is supported by a newly enacted dividend and USD150 mln buyback.
The share price is at lower end of its recent trading range.
The current theme is that the new ship's arrival in September will double revenues, EBITDA, and profits is not priced - The 2024 EBITDA multiple is about 5 vs the historical range of 8-10. All this is supported by a newly enacted dividend and USD150 mln buyback.
The share price is at lower end of its recent trading range.
touchstone
28.08.2023 kl 18:35
670
Fin artikkel. Kan vel også nevnes at de solgte seg helt ut av utbyttemaskinen CoolCompany på 130kr da de er overbevisste om å få enda større ROI med FLNG conversions. Godt med kapital men tar lang tid mellom hver ny båt