Golar announced this in its third-quarter results report.
Recent announcements of additional FLNGs in Mozambique and Indonesia to liquefy resource holders’ own gas in addition to Golar’s now concluded projects in Argentina to liquefy third-party gas, collectively reflect a “growing industry recognition of the benefits of FLNG solutions,” Golar said.
Golar has entered into contracts with the three relevant shipyards for its MKI, MKII, and MKIII FLNG designs to obtain updated pricing, delivery, and payment terms for a contemplated 4th FLNG order.
If Golar is to proceed with an MKI FLNG with a capacity of 2 to 2.7 mtpa, Seatrium is the likely shipyard selection for the company’s next FLNG.
Moreover, Golar has an option for a second MKII FLNG with a capacity of up to 3.5 mtpa with CIMC Raffles.
The MKIII has a capacity of up to 5.4 mtpa and includes a newbuild vessel built by South Korea’s Samsung Heavy.
“Competition for long lead items from industrial applications, including AI data centers, is increasingly affecting delivery timelines,” Golar noted in the report.
Golar said the majority of the long lead items are interchangeable between the different designs, but vary in magnitude and size of equipment.
“In order to safeguard an attractive timeline for our next FLNG, we are planning to order long lead equipment during the fourth quarter of 2025,” Golar said.
Golar previously said in its second-quarter results report that it plans to enter into slot reservations for long-lead equipment within the third quarter of this year.
“We have also inspected suitable donor vessels for our MKI and MKII designs. The current state of the LNG shipping market allows for access to attractive conversion candidates,” the company said on Wednesday.
Several additional FLNG units
Alongside the technical work stream, Golar continues to develop its commercial pipeline, including potential expansion of existing clients’ liquefaction plans and further developing projects with charterers that were competing for Hilli’s redeployment and the first MKII contract as alternatives to the SESA contracts in Argentina.
“We continue to witness strong demand for FLNG to monetize stranded, associated, and flared or re-injected gas reserves,” the company said.
According to Golar, the growing opportunity set includes new areas which currently do not employ FLNGs.
“We are pleased with strong counterparty engagement, including potential upstream partners and fiscal and export terms being developed with potential new LNG exporters,” the company said.
“We see demand for several additional FLNG units in due course. Golar will maintain its policy of maximum one unchartered FLNG at a time,” it said.
Results
Golar reported third-quarter net income attributable to Golar of $31 million, adjusted Ebitda of $83 million, and total cash of $661 million, before bond offering proceeds in October 2025.
Additionally, Golar’s board has approved a new $150 million buyback program.
The company declared a total dividend of $0.25 per share to be paid on or around November 24.
