Golar LNG Secures Conversion Vessel for Fourth FLNG Unit
GLNG sits 42% above its 52-week low of $35.02.
Summary
Golar LNG has acquired a conversion vessel for its fourth floating LNG (FLNG) unit, advancing its expansion plans. This follows the August order of the fourth FLNG unit from CIMC Raffles for about $2.45 billion and the recent $500 million note offering. The vessel acquisition is a concrete step toward increasing liquefaction capacity, though financial terms were not disclosed. The company had flagged going concern risk in August, making this progress on the FLNG program a positive signal for its growth strategy.
At the time of this announcement, GLNG was trading at $49.90 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $5.1B. The 52-week trading range was $35.02 to $57.79. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.