Interim results for the period ended 30 June 2018

Highlights Golar LNG Limited ("Golar" or "the Company") reports net income of $36.3 million for the second quarter of 2018 ("2Q"). EBITDA 1for the quarter was $98.9 million, including $94.7 million of unrealized Brent oil linked mark-to-market derivative income related to the FLNG...

London, 23/08/2018 (informazione.news - comunicati stampa - energia)

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. Unless legally required, Golar undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise.

Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: 

·         changes in liquefied natural gas, or LNG, carrier, floating storage and regasification unit, or FSRU, or floating liquefaction natural gas vessel, or FLNG, market trends, including charter rates, vessel values or technological advancements;

·         changes in our ability to retrofit vessels as FSRUs or FLNGs and in our ability to obtain financing for such conversions on acceptable terms or at all;

·        changes in our ability to close the sale of additional equity interests in Golar Hilli LLC on a timely basis or at all;

·        our inability to meet our obligations under the Heads of Terms agreement entered into in connection with the BP Greater Tortue / Ahmeyim Project, prior to FID, which will result in extensive termination fees;

·         changes in the supply of or demand for LNG carriers, FSRUs or FLNGs;

·         a material decline or prolonged weakness in rates for LNG carriers, FSRUs or FLNGs;

·         changes in the performance of the pool in which certain of our vessels operate and the performance of our joint ventures;

·         changes in trading patterns that affect the opportunities for the profitable operation of LNG carriers, FSRUs or FLNGs;

·         changes in the supply of or demand for LNG or LNG carried by sea;

·         changes in commodity prices;

·         changes in the supply of or demand for natural gas generally or in particular regions;

·         failure of our contract counterparties, including our joint venture co-owners, to comply with their agreements with us;

·         changes in our relationships with our counterparties, including our major chartering parties;

·         changes in the availability of vessels to purchase and in the time it takes to construct new vessels;

·         failures of shipyards to comply with delivery schedules or performance specifications on a timely basis or at all;

·         our ability to integrate and realize the benefits of acquisitions;

·         changes in our ability to sell vessels to Golar Partners or our joint venture, Golar Power;

·         changes in our relationship with Golar Partners or Golar Power;

·         changes to rules and regulations applicable to LNG carriers, FSRUs, FLNGs or other parts of the LNG supply chain;

·         our inability to achieve successful utilization of our expanded fleet or inability to expand beyond the carriage of LNG and provision of FSRUs and FLNGs, particularly through our innovative FLNG strategy and our joint ventures;

·         actions taken by regulatory authorities that may prohibit the access of LNG carriers, FSRUs or FLNGs to various ports;

·         changes in our ability to obtain additional financing on acceptable terms or at all;

·         increases in costs, including, among other things, wages, insurance, provisions, repairs and maintenance;

·         changes in general domestic and international political conditions, particularly where we operate;

·         a decline or continuing weakness in the global financial markets;

·         challenges by authorities to the tax benefits we previously obtained under certain of our leasing agreements; and

·         other factors listed from time to time in registration statements, reports or other materials that we have filed with or furnished to the Securities and Exchange Commission, or the Commission, including our most recent annual report on Form 20-F.

As a result, you are cautioned not to rely on any forward-looking statements. Actual results may differ materially from those expressed or implied by such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless required by law.

 

August 23, 2018

The Board of Directors

Golar LNG Limited

Hamilton, Bermuda

Questions should be directed to:

Golar Management Limited +44 207 063 7900

Iain Ross - Chief Executive Officer

Graham Robjohns - Chief Financial Officer and Deputy Chief Executive Officer

Stuart Buchanan - Head of Investor Relations