GLNG - Golar LNG: Proposed LNG Carrier Fleet Spin-Off Strengthens The Company's Debt And Liquidity Profile
- Discussing terms of eagerly-awaited LNG carrier fleet spin-off.
- Transaction will result in materially lower debt levels and add an estimated $200 million in liquidity.
- Company to focus on its FLNG operations going forward with discussions for a new, large-scale project utilizing the company's Mark III new-build design still ongoing.
- Adjusted EBITDA generated by the FLNG segment expected to quadruple from current levels over the next 2-3 years.
- With commercial contributions from its Gimi flagship FLNG conversion project not expected before late 2023, shares continue to lack material, near-term catalysts.
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Golar LNG: Proposed LNG Carrier Fleet Spin-Off Strengthens The Company's Debt And Liquidity Profile