Golar LNG Ltd. has reported $75.67 million in working income for the second quarter, up 17 p.c from the identical three-month interval final 12 months.
Liquefaction providers income totaled $56.51 million for 2Q 2025, in comparison with $56.12 million for 2Q 2024. Vessel administration charges and different revenues doubled to $10.94 million from $5.44 million.
Hamilton, Bermuda-based Golar reported no time and voyage constitution revenues for 2Q 2025 whereas $3.13 million was reported for 2Q 2024. It reported no sales-type lease income for 2Q 2024 whereas $8.22 million was reported for 2Q 2025.
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“Upon COD [commercial operations date] in June 2025, the FLNG Gimi asset underneath improvement was de-recognized, with a gross sales sort lease receivable acknowledged on the steadiness sheet instead”, Golar stated.
The COD marked the beginning of a 20-year-lease time period with BP PLC. Golar owns 70 p.c of the vessel and expects $3 billion in internet earnings backlog for the contract length.
Web revenue landed at $15.64 million, down 40 p.c year-on-year. Web revenue earlier than revenue taxes was $31.22 million for 2Q 2025, down from $35.37 million for 2Q 2024. Revenue taxes elevated to $439,000 from $140,000. Golar declared a dividend of $0.25 per share for 2Q 2025.
2Q 2025 noticed a internet acquire of $3.84 million from by-product devices, in comparison with a derivatives internet lack of $107,000 for 2Q 2024. Golar acknowledged an unrealized loss on oil and fuel by-product devices of $34.82 million for 2Q 2025, in comparison with $16.05 million for 2Q 2024.
Adjusted EBITDA totaled $47.17 million for 2Q 2025, down from $58.72 million for 2Q 2024.
“With the present fleet dedicated to 20-year charters, we now have elevated give attention to securing enticing FLNG development models”, the corporate stated.
“We’re working with three potential shipyards for various FLNG designs (MKI, MKII and MKIII with liquefaction capacities starting from 2.0 to five.4 million tons each year) to acquire up to date EPC value and supply schedules. So as to safe enticing supply we plan to enter into slot reservations for long-lead gear inside Q3 2025.
“We see growing trade recognition of the advantages of FLNG options versus land-based liquefaction terminals, pushed by the confirmed observe document of the fleet on the water, decrease capex, shorter building time and elevated flexibility. This in flip drives potential constitution curiosity in our FLNG options. Golar is the one confirmed supplier of FLNG as a service.
“Primarily based on the growing demand for FLNG to monetize stranded, related and flared or re-injected fuel reserves, we plan to order our subsequent FLNG earlier than locking in a constitution to drive aggressive stress and phrases for our subsequent FLNG undertaking. This is similar strategy efficiently executed for the FLNG Hilli and for the MKII FLNG. Primarily based on yard availability we’re assured {that a} contemplated fourth Golar FLNG would be the solely open and out there FLNG capability inside this decade.
“We count on to resolve on vessel design for our fourth FLNG as soon as ultimate EPC costs and supply schedules are obtained. We’re in parallel engaged on the business pipeline to match business alternatives to the contemplated fleet addition. We additionally count on {that a} fifth unit might comply with shortly after a fourth unit has been ordered and chartered”.
Golar ended 2Q 2025 with $890.84 million in money and $1.95 billion in whole present and non-current debt internet of deferred finance prices.
To contact the writer, e-mail jov.onsat@rigzone.com
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