Golar LNG’s third quarter results, published yesterday, hint at a future firm focus on FLNG over LNG shipping. The John Fredriksen-controlled company posted an EBITA loss of $5.9m for the quarter, an improvement over Q2’s $25.3m loss.
In a release Golar LNG said its “main target” is carry out more FLNG projects. In order to do so the company said it is considering the release of some of the equity currently tied up in shipping activities and using this to grow the company’s FLNG activities. “This can include leveraging unencumbered assets, re-leveraging existing debt facilities as well as being open to strategic transactions within the shipping segment,” Golar LNG noted.
Elsewhere in the release, the company noted: “The LNG carrier spot market is now showing the first real signs of recovery”.