GLNG - Golar LNG's Hilli utilization hiked by 200K tons

Golar LNG ([[GLNG]] +3.4%) says it reached agreement with Perenco Cameroon and Société Nationale des Hydrocarbures to increase utilization of the FLNG Hilli Episeyo by 200K tons of liquefied natural gas, bringing total utilization next year to 1.4M tons.At current $8.70/MMBtu average 2022 Dutch Title Transfer Facility gas prices, Golar says the increased capacity utilization represents an expected $26.1M in incremental adjusted EBITDA.Under the deal terms, Perenco and SNH get an option to increase Hilli's capacity utilization by as much as 400K tons/year of LNG from January 2023 to the end of the current contract term in 2026, with the potential to increase Hilli's total LNG production to 1.6M tons/year from 2023.At current TTF future prices and assuming the option is exercised, the incremental adjusted EBITDA backlog of the potential increase in capacity utilization for Hilli from 2022 until July 2026 is expected at ~$113M.Golar has an 86.9% economic interest

For further details see:

Golar LNG's Hilli utilization hiked by 200K tons