Golar LNG sees good future for floating units
Bermuda-headquartered LNG vessel operator Golar LNG said November 9 that current market prices support potential growth for its floating solutions.
Golar reported total operating revenue for the three-month period ending September 30 of $106.6mn, up 12% from the same period last year. Adjusted EBIDTA of $74.5mn marked a 30% increase over Q3 2020.
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Companies involved in the energy sector are turning in higher profits amid soaring commodity prices. Golar said that strength was favourable for its long-term outlook and for its floating liquefied natural gas (FLNG) units.
“This is driving momentum for potential new FLNG projects,” the company said.
Golar added that expected to see a “significant” increase in EBIDTA over the next two to three years.
The company in October priced a $300mn senior unsecured bond issue in the Nordic bond market.
The issue will mature in October 2025 and have an interest of 7% annually. Proceeds from the sale will be used for refinancing outstanding convertible bonds maturing in February 2022 and for general corporate purposes.