Golar LNG Limited (NASDAQ:GLNG) Q4 2022 Earnings Call Transcript

Ben Nolan: Okay, perfect. That is good color. And I suppose that in the interim period, after you take delivery of the ship, and before it goes in the shipyard you would just trade it in the spot market or something. Is that a fair assumption?

Karl Fredrik Staubo: No, I think the way we’ve tried to structure the whole Mark II project is that we commit and secure the timeframes, but we try to limit the cash drag until we actually need the equipment. So when it comes to the ship itself, that’s why also why we structured it as an option, where we pay 5 million to reserve the ship, we then need to pay somewhat more money but not the full amount upon the duration of the option. And then the final installment is paid upon delivery, which is likely to be around this time next year in Q1.

Ben Nolan: Okay. All right. Very clear. Appreciate it. Thank you.

Karl Fredrik Staubo: Thank you, Ben.

Operator: Thank you. There are no further questions at this time. So I’ll hand the call back to Karl for closing remarks.

Karl Fredrik Staubo: Thank you all for listening into our quarterly presentation. We’re very excited about the development of the project during 2022 and both hope and plan to keep the same pace of progress during 2023. And thank you for your continued interest and support in the company. We wish you all a good day and bye bye.

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