Golar LNG LimitedNASDAQ
Golar LNG: Assymetric Bet On FLNG Technology
Bram de Haas
Bram de Haas
Tue, Oct. 4, 6:27 PM
- Ivory Coast's government signs an agreement creating a consortium headed by France's Total (NYSE:TOT) to build a liquid natural gas import terminal that could begin receiving gas shipments by mid-2018.
- The project aims to conceive, build and operate a floating storage regasification unit with initial capacity of 100M cf that gradually would be raised to 500M cf, the energy ministry says.
- TOT would be the operator of the ~$200M project; other members of the consortium include Royal Dutch Shell (RDS.A, RDS.B), Ivory Coast state oil company Petroci, Azerbaijan's SOCAR and Golar LNG (NASDAQ:GLNG).
Thu, Sep. 29, 10:25 AM
- A joint venture between Britain's Golar LNG (GLNG -0.3%) and Brazil's GenPower Participacoes plans to begin construction of its 1,500 MW natural gas-fired power plant in November in the Brazil's Sergipe state, a government official says.
- Site preparation and grading is said to be underway and physical construction of the $850M plant and its floating offshore oil terminal is set to start in little more than a month.
- The Port of Sergipe Thermoelectric Plant, which will be one of Brazil's largest gas-fired power generation stations in Brazil, will be fueled by liquefied natural gas supplied by ExxonMobil and delivered through a new FLNG storage and regasification facility to be built as part of the project.
Wed, Aug. 31, 1:17 PM
Wed, Aug. 31, 9:30 AM
Mon, Jul. 25, 1:51 PM
- Golar LNG (GLNG +6.8%) jumps after announcing a new joint venture with Schlumberger (SLB -1.5%) for rapid development of low-cost gas fields utilizing Golar’s floating liquefied natural gas capabilities.
- The two companies agree to make an unspecified initial investment to cover the first project combing SLB’s reservoir knowledge, wellbore technologies and production management capabilities, with GLNG's low cost FLNG solution; the companies foresee five projects in five years, and plan to discuss additional debt capital on a project by project basis.
- GLNG and SLB will own a respective 51% and 49% of the new OneLNG venture.
Mon, Jul. 25, 9:17 AM
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
- Golar LNG (NASDAQ:GLNG) declares $0.05/share quarterly dividend, -88.9% decrease from prior dividend of $0.45.
- Forward yield 1.09%
- Payable March 30; for shareholders of record March 16; ex-div March 14.
- Shares closed +6.02%.
Mon, Feb. 29, 9:34 AM
- Golar LNG (NASDAQ:GLNG): Q4 Net Loss of $70.9M
- Revenue of $23M (-34.8% Y/Y) misses by $13.61M.
- Shares -1.6%.
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.