Golar LNG: Growth Energy Stock For Shipping Investors
Summary
- The third quarter of 2024 brought exciting news. Hili is committed to a 20-year contract with Pan American Energy, thus increasing the company’s EBITDA backlog to $11 billion.
- Golar and BP resolved their dispute about Gimi’s payments. Gimi's COD is scheduled for the first half of 2025.
- Despite stable revenue and gross profit, the company reported net loss mainly due to non-cash losses.
- Golar reported significant progress with its MK II project. The company signed an agreement with CIMC Raffles for MK II in September.
- I expect more positive developments in the coming quarters: completion of the PAE contract, tangible progress with MK II, and Gimi's COD. In conclusion, I give again a Strong Buy rating.
Analyst’s Disclosure:I/we have a beneficial long position in the shares of GLNG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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