The following is a summary of the Golar LNG Limited (GLNG) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 2024 revenue amounted to $65 million, and FLNG tariffs reached $88 million, with a total net income of $35 million.

• Adjusted EBITDA for Q2 2024 was $59 million, reflecting strong operational performance despite preoperational commissioning expenses.

• Golar LNG maintains a liquidity position of approximately $630 million with a net debt of $569 million.

Business Progress:

• Golar LNG is advancing its third FLNG, the Mark II, with an expected annual liquefaction capacity of 3.5 million tons per annum which is to utilize LNG carrier Fuji as donor vessel for conversion.

• The company is finalizing agreements for a second Mark II series with delivery slated for 2028.

• Golar confirmed its growth ambitions by securing a 20-year contract for FLNG deployment in Argentina alongside also retaining an option for vessel substitution.

• Continued operational excellence with Hilli and Gimi FLNG units, moving towards total capacity utilization improvements and structured financial deals enhancing project viability.

Opportunities:

• The projection of leveraging existing onshore gas pipeline infrastructure in Argentina with minimal additional investment highlights a significant business development opportunity, expected to generate around $300 million annually in adjusted EBITDA by using Hilli for the project.

• Plans for multifaceted growth in liquefaction capacity from 5 to 12 million tons per annum by 2030 underline a strategic business expansion into high-potential markets.

Risks:

• Dependent on regulatory and environmental approvals for the Argentinian project, with significant outcomes contingent upon the successful refinancing of existing facilities and the new pipeline infrastructure required for extended operations beyond the current capacity.

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