Why These Energy Stocks Are Losing This Week

7. Golar LNG Limited (NASDAQ:GLNG)

Share Price Decline Between Apr. 30 – May. 7: 8.28%

As one of the world’s largest independent owners and operators of marine-based LNG midstream infrastructure, Golar LNG Limited (NASDAQ:GLNG) designs, converts, owns, and operates marine infrastructure that turns natural gas into LNG.

The share price of Golar LNG Limited (NASDAQ:GLNG) surged by over 38% in April following an impressive month, so the recent decline could be due to profit-taking by investors. The firm is making significant progress in Argentina and revealed last week that it has reached FID for the 20-year re-deployment charter of the FLNG Hilli, in order to monetize gas from the Vaca Muerta shale formation. In addition, Golar has also signed definitive agreements with SESA for a 20-year charter for the MKII FLNG. The two FLNG agreements are expected to add around $13.7 billion in earnings backlog to GLNG over the next two decades.