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

GOLAR LNG LIMITED

(GLNG)
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Golar LNG : End of FLNG Gimi Force Majeure Events

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10/01/2020 | 09:35am EDT
End of FLNG Gimi Force Majeure Events

01 Oct 2020

Golar LNG Limited ('Golar') announces today that Gimi MS Corp., a subsidiary of Golar, has confirmed a revised project schedule with BP Mauritania Investments Ltd. ('BP') for the Greater Tortue Ahmeyim project. The revised project schedule will result in the target connection date for the converted floating liquefaction natural gas vessel Gimi, previously scheduled for 2022, as set out in the Lease and Operate Agreement dated February 26, 2019 (the 'Lease and Operate Agreement'), being extended by 11 months.

Gimi MS Corp. and BP have now received and given notice to each other confirming with each other the revised project schedule and that there is no FM Event ongoing, as defined in the Lease and Operate Agreement. The terms of the Lease and Operate Agreement are unchanged. The confirmation of a revised project schedule with BP and exchange of notices is expected to facilitate the conclusion of ongoing discussions with both engineering, procurement and construction contractors and lending banks regarding the adjustment of construction and financing schedules, respectively.

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflects management's current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as 'may,' 'could,' 'should,' 'would,' 'expect,' 'plan,' 'anticipate,' 'intend,' 'forecast,' 'believe,' 'estimate,' 'predict,' 'propose,' 'potential,' 'continue,' or the negative of these terms and similar expressions are intended to identify such forward-looking statements.

These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Golar LNG Limited undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable law.

Hamilton, Bermuda

October 1, 2020

Enquiries:

Golar Management Limited: + 44 207 063 7900

Stuart Buchanan


Disclaimer

Golar LNG Ltd. published this content on 01 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 October 2020 13:34:05 UTC


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Financials (USD)
Sales 2020 420 M - -
Net income 2020 -254 M - -
Net Debt 2020 2 310 M - -
P/E ratio 2020 -3,85x
Yield 2020 0,84%
Capitalization 802 M 802 M -
EV / Sales 2020 7,41x
EV / Sales 2021 7,18x
Nbr of Employees 1 647
Free-Float 83,8%
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Number of Analysts 13
Average target price 14,92 $
Last Close Price 8,16 $
Spread / Highest target 145%
Spread / Average Target 82,8%
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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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