Pareto take:

GLNG: Gimi has departed from yard and set sail towards Greater Tortue
• Golar announced last night that ‘FLNG Gimi’ has departed from yard in
Singapore and is now sailing (under its own propulsion, assisted by a tug) to
the Greater Tortue field in Senegal/Mauritania. The voyage is expected to take
around 60 days, including two re-fulling stops
• Upon arrival, Golar will notify BP that it is ready to be ‘moored and connected
to the hub’ – which the company expects will trigger the start of cash flows. At
first, this will be pre-commissioning cash flows, which are currently disputed
between the parties. The wider 20Y contract should not be affected, and
EBITDA of USD 151m (net to Golar) is expected to start sometime in Q2
• The company will report Q3 numbers tomorrow, so there will likely some more colour then.
We expect EBITDA / EPS of USD 77m / 0.52 and dividend to be kept flat q/q at
USD 0.25 – all spot on cons.

Golar is reporting today before the US mkt opens.

They published the major news yesterday. More details are coming today.

Clarksons today:

Golar LNG (NASDAQ: GLNG) fell 5% following its earnings release, despite no major surprises. This decline appears to be a market reaction to the lack of significant new developments. In our opinion, the recent share price drop represents an excellent buying opportunity. Several catalysts are expected in the near future. Gimi is now on its way to the offshore field, where it will arrive in January 2024. Although its 20-year fixed-rate contract with BP may not start until late 2024, Golar LNG will earn standby revenue to cover operational costs until commissioning begins, when revenues will improve substantially. The company remains optimistic about re-contracting Hilli and a potential new FLNG project. It's a time-consuming process, as is typical in the LNG industry, and the stock appears to have been pressured by apparent lack of progress news. Nonetheless, we believe Hilli's recontracting could occur within the next six months, with a huge upside potential of around $10 per share. In our opinion, nothing of this value is currently priced in. Another catalyst is the refinancing of FLNG Gimi, which could free up substantial cash for new projects. The start of Gimi's cash flows could also double the annual dividend from $1 to $2 per share, potentially resulting in a significant 10% yield. Our valuation of Golar LNG's current assets is around $21 per share, which corresponds to the current stock price. Securing a new contract for Hilli and progress on the MKII newbuild project, on the other hand, could boost the fair value to $35 per share, our target price. As a result, while patience is required, we continue to find the risk/reward ratio to be very appealing. We reiterate our Buy recommendation and target price of $35 per share.

New article on Golar on SeekingAlpha

https://seekingalpha.com/article/4656183-golar-lng-stock-q3-earnings-top-idea-lng-space-maintain-buy

Gimi is scheduled to arrive at the BP location tomorrow!

The 20-year contract with BP is about to begin. So, is the share price re-rating!

I managed to open the article on Golar on SeekingAlpha:

https://seekingalpha.com/article/4656183?gt=e16ca657523af5a8

Our idea is starting to play out - Hilli is rumoured to be in contention to service YPF off Argentina, driving to GLNG 10% up yesterday.

There has been some chatter/rumours regarding FLNG Hilli, which may see her go work for YPF off Argentina after her contract for Perenco in Cameroon is finished in 3q26. The new contract will be the major catalyst for the stock, as yesterday's share price reaction indicated.

YPF stated in their 4q23 earnings press that they want an external FLNG for 1-2mtpa from 2027, fitting well into the expiry of Hilli's current contract. That fits well for Hilli.

Hilli is currently working on 1.4mtpa contract vs. her capacity of 2.4mtpa. Argentina rumours fit well (also fits well with GLNG mgmt. comments on the 4q23 earnings call regarding Hilli not being relevant for further Africa work at this time).

If this is correct, it helps de-risk the Hilli-case and provide visibility and long-sought for news flow.

Gimi, GLNG´s second FLNG vessel, is set to commence commissioning in the coming months.

Once Gimi is operational, we believe the fixed quarterly dividend will rise and that parts of the net proceeds from the Gimi refi will be paid out as dividends.

The story is starting to play out, as predicted.

Good Golar idea write up what happened yesterday from a local blog

https://fitinvestmentideas.com/2024/03/13/golar-lng-10-on-tue-the-investment-idea-is-materialising/

Takk for link.

Det er fortsatt kun et rykte som kobler Hilli til Argentina. Tradewinds hadde i går en artikkel om at det er Petronas sin FLNG som vil bli benyttet. Petronas og YPF er samarbeidspartnere for dette prosjektet.

https://www.tradewindsnews.com/gas/ypf-eyes-up-relocating-petronas-flng-unit-to-argentina/2-1-1611168

Uansett: Golar bør dobles i verdi i løpet av året 😀

I sold 20% of my GLNG position at 25.36 and sold put options at the strike price 25USD for 0.4 USD. The options mature in 10 days.

If the share price goest below 25 - I will get the stock back plus collect 0.76 USD
if the stock price stays above 25, the options expire, I collected the premium and can either buy it the stock back or sell the put options again.