Q2 2026 Golar LNG Ltd Earnings Call Transcript
Key Points
- Golar LNG Ltd (GLNG) signed its fourth FLNG unit, a Mark II design, which will be the earliest available FLNG capacity globally, delivering by 2029.
- The company's total EBITDA backlog stands at $17 billion before commodity upside, providing strong long-term revenue visibility.
- Gimi overproduced 15% versus contractual volume, demonstrating operational excellence and upside potential.
- Hilli completed its eight-year contract with 100% economic uptime, showcasing reliability and strong operational performance.
- The company secured a $600 million revolving credit facility, boosting liquidity to approximately $1.5 billion to fund growth.
- The CapEx budget for the fourth FLNG unit increased by approximately 10% to $2.45 billion due to inflationary pressures on long-lead equipment.
- The company faces significant pressure on critical long-lead equipment, which could impact delivery timelines and costs.
- Geopolitical events, such as the military action affecting Qatar's Ras Laffan plant, introduce uncertainty in the LNG market.
- The strategic review process remains ongoing with no clear timeline for conclusion, creating uncertainty for investors.
- The company's growth is dependent on securing long-term charters for new units, which may face delays or unfavorable terms.
Good day, and welcome to the Golar LNG limited second quarter 2026 webcast and conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I will now hand the conference over to Karl Fredrik Staubo, CEO.
Thank you, operator. Good morning and welcome to Golar LNG's Q2 2026 earnings results presentation. My name is Karl Fredrik Staubo, I am the CEO of Golar, and I am accompanied today by our CFO, Eduardo Maranhao, to present this quarter's results.
Before we get into the presentation, please note the forward-looking statements on slide 2. Starting on slide 3, we start with an exciting announcement. Overnight, we signed our fourth FLNG unit, which is another Mark II FLNG to be constructed at CIMC Raffles shipyard in China. That is the same shipyard already constructing our existing Mark II FLNG on order.
The fourth FLNG order will deliver within 2029 and be the earliest available FLNG capacity globally. The order has been placed on the
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