Golar LNG Limited (NASDAQ:GLNG) Q1 2022 Results Conference Call May 26, 2022 10:00 AM ET
Company Participants
Karl Staubo - CEO
Eduardo Maranhao - CFO
Conference Call Participants
Chris Tsung - Weber Research
Sean Morgan - Evercore
Ben Nolan - Stifel
Craig Shere - Tuohy Brothers
Chris Robertson - Jefferies
Operator
Good day and thank you for standing by, and welcome to Golar LNG Limited Q1 2022 Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions]
I would now like to hand the conference over to your speaker today, Karl Staubo, CEO. Please go ahead.
Karl Staubo
Thank you, and welcome to Golar LNG's Q1 earnings results presentation. Thank you for taking time to dial in. My name is Karl Fredrik Staubo, CEO of Golar LNG. Before we get into the presentation, please note the forward-looking statements on Slide 2. I am accompanied today by our CFO, Mr. Eduardo Maranhao to present this quarter's results.
On Slide 4, we have outlined the company overview. Golar today owns two FLNGs, the Golar Hilli in operation in Cameroon, and the Golar Gimi under construction to start to 20 year contract with BP from Q4 of next year.
Furthermore, we own an LNG steam carrier, the Golar Arctic, where we announced last week that we have agreed with Snam to forward sell the ship as a converted FSRU. Lastly, we own the Golar Tundra, the most modern promptly available FSRU globally, currently operating FLNG carrier.
We have developed three FLNG designs that form the basis for our growth. All three designs are based on the same proven liquefaction technology, and we will highlight some of the key characteristics of the different capacities of the units later in the presentation.
Other result of significant corporate transactions over the last 12 months we have three listed shareholdings. We own 6% of New Fortress Energy valued at $558 million on yesterday's close. We own about 31% of Cool Company Limited, the shipping spin-off we established during Q1 of this year. We own around 24% of Avenir LNG, a small scale LNG shipping and terminal business. And the total value of these investments amount to approximately $720 million.
Golar celebrates its 75th year of operation this year, 50 of which we've been actively involved with LNG maritime infrastructure assets. Golar has through its history pioneered some of the key developments in the sector, including the industry's first FSRU, the first FLNG, as well as the first ever integrated FSRU to power plants project.