Q1 2026 Golar LNG Ltd Earnings Call Transcript
Key Points
- Golar LNG Ltd (GLNG) achieved a record quarter for LNG production, with Gimi producing 19% above the committed contractual capacity.
- The company is on track with the Mark II FLNG project, which remains on budget and scheduled for delivery by year-end.
- Golar LNG Ltd (GLNG) has a strong commercial pipeline and plans to order a fourth FLNG unit within 2026.
- The company's EBITDA backlog stands at $17 billion, with all FLNGs having 20-year charters, ensuring long-term revenue visibility.
- Golar LNG Ltd (GLNG) declared a quarterly dividend of $0.25 per share, reflecting its commitment to shareholder returns.
- Geopolitical risks highlight the vulnerability of global energy markets, which could impact future operations.
- The company faces challenges in securing long lead items to ensure timely delivery of new FLNG units.
- There is uncertainty in the forward market beyond 2030, which could affect the company's commodity-linked earnings.
- The transition of Hilli from Cameroon to Argentina involves significant modifications, including anchoring and winterization, which could pose operational risks.
- The company has substantial net interest-bearing debt of around $1.7 billion, which could impact financial flexibility.
Good day, and thank you for standing by. Welcome to the Golar LNG Limited first-quarter 2026 conference call. (Operator Instructions)
Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Karl Fredrik Staubo, CEO. Please go ahead.
Thank you, operator, and good morning from our headquarters in Bermuda. Welcome to Golar's Q1 2026 earnings results presentation. My name is Karl Fredrik Staubo, I'm the CEO of Golar and I'm accompanied today by our CFO, Eduardo Maranhao. Before we get into the presentation, please note the forward-looking statements on slide 2. We'll start on slide 3 and an overview of Golar today.
Q1 was a record quarter for LNG production for Golar. Chile continued its 100% economic uptime and Gimi produced 19% above the committed contractual capacity. The Mark II FLNG remains on budget and scheduled for delivery by year-end.
Geopolitical risks during the quarter highlights the vulnerability of
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