Golar LNG Limited

Corporate Profile Backgrounder

Golar LNG Limited (Golar) is the owner and operator of liquefied natural gas (LNG) carriers and
floating storage regasification units (FSRUs). One of the worlds largest independent owners and
operators of LNG carriers with over 30 years of experience.
Leader of the industry in operational FSRU projects intended for long term floating storage and
regasification service. Private company limited by shares. Dependent on demand for processed natural
gas. Fleet of 13 vessels, 10 LNG carriers and 3 FSRUs, (newbuildings: 9 vessels).
Company/business unit operate geographically: worldwide
Subcategory: Oil & Gas Transportation Services.
Core business:

LNG Transportation

Floating storage and regasification unit (FSRU)

Floating liquefaction (FLNG)

Focuses on:

Grow fleet on a profitable basis

Build upon industry leading position as a midstream solutions

Company's performance over the last 3 years

Data from Annual report 2013: (summary):
Net income attributable to unit holders of $141.3 million and operating income of $200 million.
Agreed to acquire from Golar LNG Limited (Golar) the Floating Storage and Regas Unit (FSRU)
Golar Igloo for $310 million subject to certain closing conditions.
Data from Annual report 2014: (summary):
Net income attributable to unit holders of $174.2 million and operating income of $244.5 million.
Strong operational performance with 100% utilisation for the fleet.
Entered into an agreement to acquire the FSRU Golar Eskimo for $390 million from Golar LNG
Limited
Data from Annual report 2015: (summary):
Net income attributable to unit holders of $162.2 million and operating income of $255.8 million.
Agreed to acquire the FSRU Golar Tundra for $330 million with closing expected in March 2016.
Commitments received for 5-year $800 million senior secured credit facility to refinance seven
vessels.

Q1 2016: Highlights:
Net income attributable to unit holders of $16.8 million and operating income of $56.1 million.
Future acquisition opportunities GoFLNG Hilli and further FSRUs and LNG carriers from Golar but
capital remains expensive with GMLP unit price at 13.7% yield. Existing business solid Regardless of
ability to acquire new assets, with a growing LNG market, good revenue backlog, strong coverage ratio
and recent acquisition and refinancing we have a solid basis with which to support current distribution.
Future performance are subjected to certain risks, uncertainties and other factors, some of which are
beyond control and are difficult to predict (i.e. changes in the supply of or demand for LNG or LNG
carried by sea; changes in trading patterns that affect the opportunities for the profitable operation of
LNG carriers, FSRUs or FLNGVs; changes in the supply of or demand for natural gas generally or in
particular regions). Therefore, actual outcomes and results may differ materially from what is
expressed or forecasted in such forward-looking statements.
Golar LNG Limited and LNG transportation market:

LNG as Energy for the 21st Century

The most dynamic segment of the global energy industry
LNG up to current developments, including shale gas
Countries around the world are increasingly looking to liquefied natural gas
Rise in LNG export capacities (particularly gas originating from Australia, Qatar and the USA)
Receiving terminals (regasification terminals) exist in about 25 countries, including the US, the
UK India, Japan, Korea, Taiwan, China, Greece, Belgium, Spain, Italy, France, Chile, and the
Dominican Republic, Poland among others. And there are plans for new receiving terminals.

Golar LNG Limited (together with Golar Partners) is one of the world's largest independent LNG
carrier and FSRU owners and operators. This LNG Carrier is known as flexible for LNG carrier service
and its classified as an offshore unit, remaining permanently moored at site for a long contract
duration without the requirement for periodic dry docking. Golar LNG Ltd. effectively competes
with other independent shipping companies who also own and operate LNG carriers In addition to
independent LNG operators, some of the major oil and gas producers, including Royal Dutch Shell,
BP, and BG own LNG carriers and have in the recent past contracted for the construction of new
LNG carriers. National gas and shipping companies also have large fleets of LNG vessels that have
expanded and will likely continue to expand. These include Malaysian International Shipping
Company, or MISC, National Gas Shipping Company located in Abu Dhabi and Qatar Gas Transport
Company, or Nakilat. Direct competitors such as Frontline Ltd, Ship Finance International Ltd,
Teekay Lng Partners L.p., Nordic American Tankers Ltd.
Golar LNG Limited is experienced and professional provider of LNG shipping that places value on
operating to the highest industry standards of safety, reliability and environmental performance.
Source:

Companys website: http://www.golarlng.com/

http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=GLNG.O
Companys
annual
reports
(and
other
reports)
available
on:
http://www.golarlng.com/index.php?name=seksjon%2FFinancial_Information%2FAn
nual_Reports.html
http://csimarket.com/