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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Golar LNG Limited    GLNG   BMG9456A1009

GOLAR LNG LIMITED

(GLNG)
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Golar Shares Sink After BP Force Majeure Claim

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04/07/2020 | 11:29am EDT

By Matt Grossman

 

Golar LNG Ltd. shares fell Tuesday morning after a subsidiary of the company received a force majeure claim relating to a natural-gas facility.

The stock traded nearly 13% lower to $5.32. It had ended trading Monday at $6.10.

The subsidiary, Gimi MS Corp., was notified by BP Mauritania Investments Ltd that BP would not be ready to receive a new floating liquified natural-gas facility in 2022 as scheduled. BP's claim cited effects from the coronavirus pandemic, Golar said.

Golar, headquartered in Bermuda, said it has asked BP to clarify the claim, questioning how the Covid-19 crisis could already have affected the planned natural-gas facility.

Representatives for BP didn't immediately respond to a request for comment.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
BP PLC -2.61% 305.75 Delayed Quote.-35.17%
GOLAR LNG LIMITED 5.45% 7.93 Delayed Quote.-44.23%
WTI 5.07% 35.185 Delayed Quote.-45.35%
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Financials (USD)
Sales 2020 437 M - -
Net income 2020 -75,5 M - -
Net Debt 2020 2 464 M - -
P/E ratio 2020 -12,7x
Yield 2020 0,71%
Capitalization 776 M 776 M -
EV / Sales 2019
EV / Sales 2020 7,42x
Nbr of Employees 1 647
Free-Float 83,2%
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Mean consensus BUY
Number of Analysts 17
Average target price 15,28 $
Last Close Price 7,93 $
Spread / Highest target 215%
Spread / Average Target 92,7%
Spread / Lowest Target -18,0%
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Managers
NameTitle
Iain Ross Chief Executive Officer
Tor Olav Trøim Chairman
Øistein Dahl Chief Operating Officer
Callum Mitchell-Thomson Chief Financial Officer
Olve Skjeggedal Chief Technical Officer
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