Press release
Golar LNG Limited Preliminary fourth quarter and financial year 2024 results
Highlights and subsequent events Golar LNG Limited (“Golar” or “the Company”) reports Q4 2024 net income attributable to Golar of $3 million inclusive of $29
About this update from Golar Lng Limited
[{"type":"text","content":"Highlights and subsequent events Golar LNG Limited (“Golar” or “the Company”) reports Q4 2024 net income attributable to Golar of $3 million inclusive of $29 million of non-cash items1, and Adjusted EBITDA1 of $59 million. Full year 2024 net income attributable to Golar of $50 million inclusive of $131 million of non-cash items1, and Adjusted EBITDA1 of $241 million. Total Golar Cash1 of $699 million. Acquired all remaining minority interests in FLNG Hilli. FLNG Hilli maintained market-leading operational track record and exceeded 2024 production target. Pampa Energia S.A., Harbour Energy plc and YPF joined Southern Energy S.A. (“SESA”), creating a consortium of leading Argentinian gas producers planning to use FLNG Hilli under definitive agreements announced in July 2024. FLNG Gimi commissioning commenced and first LNG produced, after receiving first gas from the GTA field. MKII FLNG conversion project on schedule (9% complete) and Fuji LNG arrived at the shipyard for conversion works. Sold shareholding in Avenir LNG Limited (\"Avenir\") for net proceeds of $39 million. Completed exit from LNG shipping with sale of the LNG carrier, Golar Arctic for $24 million. Declared dividend of $0.25 per share for the quarter. FLNG Hilli: Maintained her market leading operational track record and exceeded her contracted 2024 production volume resulting in the recognition of $0.5 million of 2024 over production accrued revenue. Q4 2024 Distributable Adjusted EBITDA1 was $68 million excluding overproduction revenue. FLNG Hilli has offloaded 128 cargoes to date. In December 2024, Golar acquired all remaining third party minority ownership interests in FLNG Hilli for $60 million in cash and a $30 million increase in Golar's share of contractual debt. The acquisitions included a total of 5.45% common units, 10.9% Series A shares and 10.9% Series B shares. The transaction was equivalent to ~8% of the full FLNG capacity. Following this, Golar has a 100% economic interest in FLNG Hilli. The acquisition is immediately accretive to Golar’s cash flow. Annual Adjusted EBITDA1 from the base tolling fee is expected to increase by approximately $7 million. The Brent oil linked commodity element of the current FLNG Hilli charter will increase from $2.7 million to $3.1 million in annual Adjusted EBITDA1 attributable to Golar per dollar for Brent oil prices ...