Golar LNG Limited (NASDAQ:GLNG) Q3 2023 Earnings Conference Call November 21, 2023 8:00 AM ET

Company Participants

Karl Fredrik Staubo - Chief Executive Officer

Eduardo Maranhao - Chief Financial Officer

Conference Call Participants

Benjamin Nolan - Stifel

Gregory Lewis - BTIG

Christopher Robertson - Deutsche Bank

Craig Shere - Tuohy Brothers

Operator

Welcome to the Golar LNG Limited 3Q 2023 presentation. After the slide presentation by CEO, Karl Fredrik Staubo, and CFO, Eduardo Maranhao, there will be a question-and-answer session. Information on how to ask a question will be provided then. At this time, all participants are in listen-only mode.

I will now pass you over to Karl Fredrik Staubo. Karl, please go ahead.

Karl Fredrik Staubo

Thank you, operator, and good day to all of you. Welcome to Golar LNG's Q3 2023 Earnings Results Presentation. My name is Karl Fredrik Staubo, CEO of Golar LNG. And I'm accompanied today by our CFO, Mr. Eduardo Maranhao, to present this quarter's results. Before we get into the presentation, please note the forward-looking on slide two.

Turning to slide three and an overview of Golar today. We own and operate two FLNGs. The Hilli operating for Perenco in Cameroon and the Gimi, which delivered from Seatrium Shipyard in Singapore now on Sunday and is currently sailing towards Mauritania/Senegal to start its 20-year contract for BP.

In Q1 next year, we expect to take delivery of the LNG carrier, Fuji, which we acquired in May and intend to convert into a 3.5 MTPA Mark II FLNG vessel. We also own one LNG carrier, Arctic, which has just been through its five-year class.

Arctic has a membrane storage system and is therefore not suitable for FLNG conversion. And we're, therefore, currently considering alternatives for the vessel, including chartering or sale. We remain committed to FLNG growth and have in addition to the Mark I FLNG design of Hilli and Gimi, spent considerable time and resources to develop two incremental designs. Mark II with 3.5 million tons of annual liquefaction capacity and Mark III with 5 million tons of annual liquefaction capacity. We'll elaborate more on our growth ambitions later in the presentation.

We also have two investments in Macaw Energies, a land-based liquefaction company, targeting monetization of flare gas and focused on operations in the Americas, and Avenir LNG, a small-scale LNG company, owning five small-scale LNG carriers servicing local distribution trades and the growing maritime LNG bunkering market, as well as an LNG Terminal in Sardinia, Italy.