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Golar LNG Limited (GLNG) is a Bermuda-based company specializing in the liquefaction of natural gas and related marine infrastructure. The company designs, constructs, owns, and operates floating liquefied natural gas (FLNG) vessels, as well as provides regasification, storage, and offloading solutions for LNG. GLNG focuses on delivering safe, reliable, and cost-effective energy solutions globally, with operations spanning regions such as Cameroon, Senegal, Mauritania, and Brazil.
- FLNG (Floating Liquefied Natural Gas) - Operates FLNG vessels that liquefy natural gas offshore, including the FLNG Hilli Episeyo and FLNG Gimi, which are key assets in the company's portfolio.
- Corporate and Other - Provides vessel management, floating storage and regasification unit (FSRU) services, administrative services to affiliates and third parties, and oversees corporate overhead and strategic investments.
- Shipping - Manages LNG transportation operations through its LNG carriers, including the Fuji LNG and Golar Arctic.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Eduardo Maranhão Executive | CFO | None | CFO of GLNG since May 2021. Former CFO of Hygo and Cool Company Ltd. Extensive experience in energy projects and infrastructure financing. Holds a Bachelor of Business Administration from Universidade de Pernambuco and completed a Management Acceleration Programme at INSEAD. | |
Erik Svendsen Executive | CTO | None | CTO of GLNG since June 2022. Joined GLNG in May 2020. Extensive experience in offshore and floating production sectors. | |
Karl Fredrik Staubo Executive | CEO | None | CEO of GLNG since May 2021. Previously CFO of GLNG (Sep 2020-May 2021) and CEO of Golar Partners. Holds an MA in Business Studies and Economics from the University of Edinburgh. Over 14 years of experience in shipping, energy, and infrastructure. | View Report → |
Ragnar Nes Executive | COO | None | COO of GLNG since April 2022. Previously Head of FLNG (Mar 2018-Apr 2022). Extensive experience in FPSOs and ship management. Holds an MSc in Electrical Engineering from NTNU Technical University in Trondheim, Norway. | |
Carl Steen Board | Director | Director at Himalaya Shipping Ltd, Wilhelmsen Holding ASA, and Belships ASA | Director at GLNG since Jan 2015. Former head of Nordea Bank's Shipping, Oil Services & International Division. Holds an MSc in Industrial and Management Engineering from ETH Zurich. | |
Daniel Rabun Board | Director | Chairman of ChampionX Corporation; Director at APA Corporation and Borr Drilling Limited | Director at GLNG since Feb 2015. Former Chairman of GLNG (Sep 2015-Sep 2017). Extensive experience in corporate governance and leadership. Former CEO and Chairman of Ensco plc. Holds a BBA in Accounting from the University of Houston and a JD from Southern Methodist University. U.S. CPA since 1976. | |
Georgina Sousa Board | Director | Director at Himalaya Shipping Ltd | Director at GLNG since Sep 2019. Former Managing Director of Golar Management (Bermuda) Limited. Extensive experience in corporate governance and administration. UK citizen residing in Bermuda. | |
Lori Wheeler Naess Board | Director and Audit Chair | Director at Opera Limited | Director at GLNG since Feb 2016. Chair of the Audit Committee. Former director at PricewaterhouseCoopers and Senior Advisor for the Financial Supervisory Authority in Norway. U.S. CPA (inactive). | |
Niels Stolt-Nielsen Board | Director | Chairman of Stolt-Nielsen Limited and Avenir LNG | Director at GLNG since Sep 2015. Extensive experience in shipping, logistics, and LNG investments. Chairman of Stolt-Nielsen Limited and Avenir LNG. | |
Thorleif Egeli Board | Director | Director at Stimline | Director at GLNG since Sep 2018. Former VP at Schlumberger and COO at Archer. Extensive experience in offshore energy and asset management. | |
Tor Olav Trøim Board | Chairman of the Board | Chairman of Borr Drilling Limited; Director of Stolt-Nielsen Limited, Magni Sports AS, Vålerenga Football AS; Senior Partner at Magni Partners Limited | Chairman of GLNG since Sep 2017. Director since Sep 2011. Over 35 years of experience in energy-related industries. Holds an MSc in Naval Architecture from the University of Trondheim, Norway. |
- Given the challenges in Argentina for constructing the necessary pipeline infrastructure to support additional FLNG units beyond the Hilli, what are the specific steps required, and how confident are you in the timeline to enable multi-FLNG vessel projects?
- With the Mark II FLNG expected to be the first available FLNG capacity globally in 2027, and your target to fix it within 2025, can you elaborate on the backlog of potential credible inquiries and how you plan to secure a charter in a competitive environment?
- Regarding your 10% stake in South American logistics and the Pan American Energy project in Argentina, what are the anticipated capital expenditures, and how will the costs of redeploying the Hilli, including upgrades and transit, impact your financial position?
- Considering the delay in progressing the Nigerian LNG project with NNPC, and the unlikelihood of sanctioning a project within this year, how does this affect your FLNG growth strategy and the potential utilization of your FLNG assets like the Mark II?
- With significant liquidity expected from the refinancing of Gimi and the potential financing for the Mark II exceeding its construction cost, how are you planning to allocate this additional capital, and what are your priorities between growth initiatives and shareholder returns?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Fuji LNG | 2024 | The Fuji LNG acquisition was completed on March 4, 2024 for a total consideration of $77.5 million, including the reclassification of a $15.5 million deposit; it was secured as a donor vessel for the prospective Mark II FLNG project and is currently operating as an LNG carrier with notable revenue and expense performance. |
MGAS Comercializadora de Gás Natural Ltda. | 2024 | Macaw Energies, a subsidiary of Golar LNG, acquired a 51% equity interest in MGAS to support decarbonization via monetizing flared gas, and later in May 2024 disposed of this interest for $0.8 million, recording a $0.5 million loss, following a $0.4 million equity contribution in 2023. |
Logística e Distribuição de Gás S.A. (LOGAS) | 2024 | In an agreement initiated in October 2023 and completed in November 2023, Macaw Brazil (a Golar subsidiary) acquired a 58% ownership interest in LOGAS for BRL 45.0 million (≈$9.3 million), with non-controlling interests retaining substantive participating rights, leading to an equity method accounting treatment. |
FLNG Hilli | 2023 | Golar LNG acquired New Fortress Energy's 50% interest in FLNG Hilli by transferring 4.1 million NFE shares, paying $100 million in cash, and assuming $323 million of debt, thereby increasing annual run-rate EBITDA by approximately $70 million and simplifying its contractual structure, effective January 1, 2023 (closed March 15, 2023). |
Recent developments and announcements about GLNG.
Earnings
New Earnings (Q4 2024)
·Feb 27, 2025, 9:09 PMView full earnings summary →GLNG sees a potential EBITDA jump from $215M to $241M if Gimi reaches 2.7 MTPA (vs its 2.4 MTPA base) while also aiming to charter the Mark II FLNG by 2025 to unlock a fourth unit. Inflationary CapEx remains a risk, but growth prospects stay strong.