Golar LNG will focus more on FLNG

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”.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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