Golar LNG: Assymetric Bet On FLNG Technology
Bram de Haas
Bram de Haas
Sailing The Seas Of Natural Gas With Golar LNG
Herr Hansa • 58 Comments
Herr Hansa • 58 Comments
Tue, May 31, 1:35 PM
Tue, May 31, 9:14 AM
Tue, May 10, 9:49 AM
- Golar LNG (GLNG -0.2%) announces the resignation of CEO Gary Smith, to be replaced by Oscar Spieler, and the formation of a new subsidiary called Golar Power.
- Spieler has been responsible for the development of the Golar Hilli FLNG project and was GLNG's CEO between July 2009 and June 2011; he spent 16 years in the John Fredriksen controlled Seatankers Group, where he had several functions including CEO of Frontline, Golar, Sea Production and Sea Lift.
- GLNG also says it plans to develop a downstream LNG company called Golar Power to target delivery of cheaper, cleaner, integrated, LNG based energy solutions to new markets; it would start with a portfolio of opportunities including participation in a 1.5 GW power station in Sergipe, Brazil, backed by a 25-year PPA contract.
- GLNG says it will seek additional external capital to fund Golar Power and is in talks with a P-E fund to jointly develop the new company.
- Now read GasLog, Golar LNG upgraded to Buy at Jefferies
Mon, May 9, 9:14 AM
Fri, Apr. 29, 12:44 PM
Fri, Apr. 29, 9:12 AM
- Gainers: PRGN +75%. GNW +16%. P +13%. AMZN +12%. SDRL +11%. EXPE +11%. MNST +11%. ROVI +10%. SNMX +9%. LNKD +7%. CRC +7%. DNR+7%. DRYS +7%. TIVO +6%. LGCY +6%. SHPG +5%. GPL +5%.
- Losers: BIOC -22%. GLNG -17%. EPAY -17%. MOH -15%. SRCL -15%. IMGN -14%. SYNA -11%. AKS -8%. HCLP -8%. ALR -6%. GILD -6%. RXDX -6%.
Fri, Apr. 22, 12:28 PM
- Jefferies upgrades both GasLog (GLOG +4.2%) and Golar LNG (GLNG +3.5%) to Buy from Hold, saying the companies are well positioned for an improving liquefied natural gas shipping market environment.
- The firm cites GLOG's built-in growth and growth aspirations as well as the potential to also pursue FLNG projects; it raises its stock price target to $17 from $8 based on shares trading at 140% of estimates net asset value, in-line with the historical multiple.
- Jefferies likes GLNG's significant spot market exposure and burgeoning FLNG business, and thinks the company is poised for an anticipated near-term increase in global LNG shipping volumes as well as potentially stronger crude oil and LNG prices in 2017.
- Now read LNG shipping: Demand-side macro outlook for April
Mon, Feb. 29, 5:32 PM
Mon, Feb. 29, 9:34 AM
Wed, Feb. 10, 3:33 PM
- Golar LNG Partners (GMLP +0.2%) agrees to acquire the Golar Tundra floating storage and regasification unit from Golar LNG (GLNG +1.4%) for $330M.
- GMLP will receive a daily fee plus operating expenses, aggregating to ~$2.6M/month, for the right to use the FSRU from the date of closing until the date the vessel begins operations under its time charter with West Africa Gas.
- GMLP says the acquisition will increase revenue backlog to $2.62B at year-end 2015 and is expected to generate ~$44M/year in net contracted revenues.
- GMLP says it will enter into a new five-year $800M senior secured credit facility, from which it will draw down $70M to fund the remaining cash purchase price for the Golar Tundra.
Fri, Jan. 22, 5:32 PM
- Golar LNG (NASDAQ:GLNG) ended 50% higher in today's trade, as its MoU with Schlumberger to jointly market gas monetization solutions is seen by analysts as a vote of confidence in the company's Floating LNG Assets and Technology.
- Cowen analyst Sam Margolin, who maintains an Outperform rating and $80 price target on GLNG, says the arrangement shows that FLNG's technology is competitive in the current commodity price environment, and he expects additional FLNG projects for the company.
- Evercore ISI's Jonathan Chappell says the MoU with a blue-chip company such as SLB can be considered "proof of concept" for FLNG technology, as there are no FLNG assets in operation yet; Chappell, who has a Buy rating and $48 price target on GLNG, believes past skepticism about the effectiveness of FLNG technology should be alleviated.
Fri, Jan. 22, 12:44 PM
Fri, Jan. 22, 10:21 AM
- Golar LNG (GLNG +39.7%) explodes higher following news it has signed a memorandum of understanding with Schlumberger that will see the two companies cooperate on the global development of greenfield, brownfield and stranded gas reserves.
- Under the MoU, GLNG and SLB will jointly market gas monetization solutions to owners, investors and governments in an attempt to help lower the cost of liquefied natural gas production from gas reserves worldwide.
- GLNG will contribute floating LNG assets and technology, while SLB will provide upstream development knowledge, resources and capital.
Wed, Jan. 20, 12:45 PM
Dec. 18, 2015, 5:30 PM
- Golar LNG Partners (NASDAQ:GMLP) rebounded more than 15% to recover a chunk of its 42% shellacking suffered yesterday amid the Teekay dividend cuts, after saying it has experienced no material changes in its operations since its Q3 earnings announcement on Nov. 30.
- GMLP says its distribution policy has not changed and expects an unchanged distribution of $0.5775/unit in Q4; also, GMLP's board authorizes the repurchase of up to $25M of its outstanding common units.
- The other relevant stocks ended mostly higher: GLOG +2.7%, GLNG +0.1%, GLOP -3.1%, TK +21%, TNK +2.4%, TGP +12.8%, TOO +36.4%.
Dec. 17, 2015, 10:48 AM
- GasLog (GLOG -13.6%) and Golar LNG (GLNG -8.1%) are sharply lower in the wake of the Teekay dividend cuts, as the market focuses on GLOG and GLNG following Teekay's (TK -55.6%) announcement and Kinder Morgan's cut earlier this month.
- Wells Fargo downgrades TK and GLOG to Market Perform from Outperform, saying pressure around dividend cuts is likely to continue weighing on the stocks.
- The firm issues reduced price target ranges for the stocks, to $18-$20 from $35-$37 for TK and to $10-$12 from $21-$23 at GLNG.
- Also: TGP -45.8%, GMLP -34%, GLOP -8.4%, STNG -3.5%, NNA -3.2%, NAP -2.2%.
Golar LNG Ltd. owns and operates liquefied natural gas carriers (LNG) and floating storage and regasification unit (FSRU). The company's vessel provides LNG shipping, storage and regasification services to LNG industry. It develops FSRU projects based on the conversion of existing LNG Carriers.... More
Sector: Basic Materials
Industry: Oil & Gas Equipment & Services
Country: United States
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