GLNG - Golar LNG to acquire vessel for conversion into third FLNG

Golar LNG ( NASDAQ: GLNG ) said Thursday it secured an option to acquire a 148K cm Moss-design liquefied natural gas carrier which it aims to convert to a 3.5M metric tons/year floating LNG producer.

Golar ( GLNG ) said the LNG carrier will cost $78M, and the converted vessel would be the company's third FLNG, with delivery expected in 2025.

The company said it has made "significant progress" with the conversion shipyard, procurement of long lead items, and financing for the FLNG project, as well as "strong client engagement... for potential deployment, and economics are attractive for both integrated and tolling fee opportunities."

Golar LNG ( GLNG ) CEO Karl Fredrik Staubo also said total committed spending for the project has increased to $320M due to additional orders for long lead items.

Earlier this week, the company reported Q4 adjusted EBITDA of $87.4M and operating revenues of $59.1M, both missing analyst estimates .

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