Yesterday, 11:46 AM
- Golar LNG (GLNG +5%) is upgraded to Buy from Hold with a $45 price target at Stifel, which notes that as the company continues progress toward finalizing multiple FLNG projects, each of which could be worth $10-$15/share, the firm estimates the sum of the parts at $45/share with material upside if more FLNG projects begin to solidify.
- Stifel reiterates its Buy rating on Golar LNG Partners (GMLP +4.3%) while lowering its target price to $29 from $33, as units trade at a compelling current yield of 13% with excellent cash flow protection and distribution visibility.
Wed, Jul. 22, 9:14 AM
- Golar LNG (NASDAQ:GLNG) +1.9% premarket on news it has ordered a third floating liquefaction vessel based on its GoFLNG technology.
- The primary contract for the GoFLNG Gandria was entered into with Singapore's Keppel Shipyard, following previous deals for the GoFLNG Hilli and Gimi conversions.
- GLNG says it does not expect to raise any additional equity in connection with the $684M order.
Tue, Jul. 21, 2:58 PM
- Golar LNG (GLNG +4.8%) says it has secured up to $960M in financing for its GoFLNG unit Golar Hilli from a unit of China’s shipbuilding conglomerate China State Shipbuilding Corp.
- GLNG says the financing will fund up to 80% of the cost of the converting the Moss-type LNG carrier Hilli into a GoFLNG vessel at Singapore’s Keppel Shipyard.
- Once GLNG has spent $400M of the estimated $1.2B conversion cost, the company will be able to draw down up to $700M from the facility in the first phase of the financing; GLNG already has spent $385M on the conversion.
- Another $260M will be able to be drawn down in the second phase, which will be activated once the completed unit has been delivered from Keppel Shipyard and “certain additional performance milestones” have been satisfied.
Tue, Jul. 21, 10:32 AM
- The crash in oil prices is good for business for operators of the supertankers capable of hauling more than 2M barrels of crude around the world, such as Frontline (FRO +9.1%), Teekay Tankers (TNK +4.2%), Nordic American (NAT +2.6%), DHT Holdings (DHT +2.4%) and Euronav (EURN +1.5%), whose stocks have been moving up in recent weeks.
- The oil market rout that started in 2014 is a boon that could allow the companies to reduce debt, invest in new vessels and reward shareholders that have stuck with them through some very lean years, FT reports.
- Since the start of the year, the cost of hiring a VLCC has jumped more than 50%, with the rate for shipping oil from Saudi Arabia to Japan - the benchmark supertanker route - rising to $93.6K/day, a seven-year seasonal high.
- The supply of supertankers also has fallen sharply since 2008.
- Other related tickers: GLNG, GNRT, SFL, NAO, ASC, TOO, TK, TGP
Fri, Jul. 10, 5:40 PM
Tue, Jun. 30, 5:36 PM
Tue, Jun. 16, 5:38 PM
Thu, May 28, 5:40 PM
Tue, May 5, 12:46 PM
Tue, May 5, 9:17 AM
Tue, May 5, 8:50 AM
- Golar LNG (NASDAQ:GLNG) +20.5% premarket after Ophir Energy selected it as midstream partner for the Fortuna FLNG project in Equatorial Guinea.
- The agreement which will see a floating liquefied natural gas vessel supplied by GLNG for Ophir's Fortuna development on Block R, where GLNG says the 2.5T cf of high purity 2P gas resources are ideally suited for the application of its GoFLNG technology.
- The agreement will be structured as a 20-year tolling contract, starting commercial operations in H1 2019.
- GLNG also says it is starting negotiations with partners Keppel and Black & Veatch for the ordering of a third GoFLNG unit.
Thu, Mar. 5, 12:24 PM
- Golar LNG (GLNG +10.8%) shoots higher on heavy volume after signing a preliminary agreement with Russia's Rosneft (OTC:RNFTF) to develop floating liquefied natural gas plants in Latin America and potentially elsewhere.
- GLNG says it aims to sign two agreements that would give Rosneft capacity from its floating gas liquefaction plants under development.
- The new concept of floating LNG production has yet to be tested, and the first such plant - owned by Pacific Rubiales (OTCPK:PEGFF) and whose output is earmarked for sale to Russia's Gazprom (OTCPK:OGZPY) - is expected to come on stream later this year.
Fri, Jan. 9, 12:25 PM
- Frontline (FRO +10.1%) has now jumped 63% this week amid speculation that a plunge in crude prices is spurring demand for the vessels to store cargoes.
- “The re-emergence of floating storage is what could move the crude tanker market this year from being rather good to possibly very very good," says a shipping analyst at Pareto Securities in Oslo.
- Traders may park as much as 60M barrels of oil on tankers in the coming months, according to consulting firm JBC Energy.
- Among other tanker companies: TK +1.2%, TNK +3.4%, TOO -0.3%, TGP -0.1%, TNP -0.7%, GLNG -1.9%, NAT -0.6%, DHT +3.1%.
- Earlier: Reuters: Oil glut sparks top traders to book supertankers for storage at sea
Thu, Jan. 8, 4:38 PM
- Golar LNG Partners (NASDAQ:GMLP) -4.2% AH on news it plans to sell 7.17M common units to Golar LNG (NASDAQ:GLNG), using the proceeds to fund part of the recently announced contract with Keppel Shipyard to convert one of its first generation liquefied natural gas carriers into a floating natural gas liquefaction facility.
- The proceeds will be in addition to those expected to be received over the next two years from the announced $390M sale of the Golar Eskimo to GMLP.
Dec. 24, 2014, 10:27 AM
- Golar LNG (GLNG +5.4%) says it has signed a heads of agreement for the development of a floating liquefied natural gas export project offshore Cameroon that could lead to output from early 2017.
- GLNG will provide the liquefaction facilities and services under a tolling agreement to SNH and Perenco as owners of the upstream joint venture; GLNG expects allocated reserves will be produced at the rate of ~1.2M metric tons/year of LNG over eight years.
- The project will be the first floating LNG export project in Africa; production is expected to begin in H1 2017.
Sep. 22, 2014, 12:31 PM
- Former BG Group CEO Sir Frank Chapman has taken over as chairman at Golar LNG (GLNG -2%), in a move that was widely expected.
- Chapman stepped down from his BG post at the end of 2012; he is currently non-executive chairman of the safety and ethics committee at Rolls Royce.
- Seadrill revealed on Friday that Tor Olav Troim, John Fredriksen's former right-hand man, was quitting its board and expects to focus on GLNG.
GLNG vs. ETF Alternatives
Golar LNG Ltd is a midstream LNG company engaged in the transportation, regasification and liquefaction and trading of LNG. It is engaged in the acquisition, ownership, operation and chartering of LNG carriers.
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