Golar LNG Limited (NASDAQ:GLNG) Q3 2023 Earnings Call Transcript

Karl Fredrik Staubo: The short answer is yes. So today the unit is utilized around 1.4 million tonnes per annum to 1.44 million tonnes per annum versus installed capacity of 2.4. We would typically discount the committed volumes under a new contract to anywhere between 2 million tonnes and 2.2 million tonnes, which would drive the majority of the earnings increase versus the current contract, just the fact that you increase capacity utilization. That combined with also targeting higher or more attractive economics in a new contract, should boost earnings from Hilli, so both capacity utilization and improved earnings, and yes, that should trigger refinancing of Hilli.

Craig Shere: And as the thoughts about what to do with Hilli refi similar to what you’ve already shared on the Gimi or does that just extra gravy and maybe can go towards return of capital?

Karl Fredrik Staubo: Well, it should be, I guess, that’s up to that point in time if we then see the same attractiveness of FLNG growth projects, but the way we see the outlook right now, we would still do the product for FLNG growth because we think the market opportunity is very significant and significantly more than one, two, or even three units.

Craig Shere: Thank you.

Operator: Thank you. This concludes today’s question-and-answer session. So I’ll hand the call back to Karl Staubo for closing remarks.

Karl Fredrik Staubo: Thank you all for dialing in. Q3 was a notable quarter in Golar’s history, both with the operational milestone of 100th cargo on Hilli and importantly the delivery of Gimi. We look forward to the next steps and speak to you all in the next quarter. Thanks for dialing in and bye-bye.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect. Speakers, please standby.