- Earnings call transcript Q3 2022

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Operator

Welcome to the Golar LNG Limited Q3 2022 Results Presentation. At this time, all participants are in a listen-only mode. After the slide presentation by CEO, Karl Fredrik Staubo; and CFO, Eduardo Maranhão, there will be a question-and-answer session. [Operator Instructions] I will now pass you over to Karl Fredrik Staubo. Karl, please go ahead.

Karl Fredrik Staubo

good good and to operator, you, morning afternoon and all. Thank results Golar LNG’s to presentation. QX Welcome earnings My name Fredrik is Karl Golar LNG. Staubo, CEO of accompanied CFO, I’m our by Mr. today Eduardo quarter’s present Maranhão results. to this forward-looking on our note Please slide X. statements overview an provides X of Slide Golar. own in and Perenco XX-year for the operating year. part Cameroon, BP was two next FLNGs, that We Hilli, contract for the Gimi

technology three are and same three different developed focusing we and have the defer but our We interface, on designs. maritime efforts designs All in projects proven based on liquefaction FLNG growth capacity. are FLNG liquefaction

sales have During the with orders quarter, shareholding of our share X%. most shy overview items lead the million, last shareholding reducing for And X.X%. liquefaction in total new just quarters, we X.X from to FLNG placed II change for of around totaling tons. CoolCo NFE sale shares, of from The Company notable our long Mark our reducing million $XXX to XX.X% capacity X% a the a since our

Turning July X.X of increase X to million, tons its TTF production gas maintain generated million $XX.X Hilli prices. Golar ‘XX QX of to end of per a linked to meaning period. has an a tariff of contract at highlights The that we the to X.X the and Jan increase will year. Perenco EBITDA from X.X for of last declared slide XXXX, from in times quarter. production annum tons million incremental volume the

MMBtu. hedges exposure exposure per hedges We per And cash $XXX XXX% of of EBITDA In XXXX at at MMBtu. to exposure visibility for entered the $XX hedged hedged gas Golar During total, around QX MMBtu. XXXX XX% the XXXX $XX our quarter for these flow $XX.X XX% we million. into our provide of our we of per at

the million As are about money. the in of TTF hedges $XX currently today,

Turning remains and on to now is she schedule. Gimi, XX% complete

increased about of new maritime we vessel client and onboard and FLNG on XXX our FLNG interaction a we’ll three see crew have have by operations, engaged progress year-end. to persons strong We growth, a On mobilized projects. continue potential

upstream During been potential the quarter, for with integrated have a attractive project. FLNG partner working very we an

This clients. in X FLNG we prospective is we and independent X.X within million million the one company. We CoolCo On is activities, line XXXX. have opportunities growth. shares deadlines next and value our believe with Under Golar’s drive steps deliver supermajor FLNG agree these signed reach E&P key The development increase to of sold proceeds our will to items FLNG resulted with to shareholding both have reduce ordered potential progress parties to to FIDs. strategy secure an securing delivery investments Golar to development on new net ability lead agreements, a attractive set million delivery and sales $XXX and a within corporate why to of scope unit that another NFE share agreements, shares. also commit with fund work defined our FLNG financial We with communicated reason of in long in to have to

We million XXX.X at stands now shares. count in of also share. back an our share per shares quarter price XXX,XXX $XX.XX at the bought And average

resources, land-based Energies energy, up biogas. established LNG stranded committed as in targeting have We as $XX to to million liquefaction and scale well gas invest Macaw company, small a gas newly associated

successful create Energies strong scale combined the record the and Macaw of Macaw liquefaction expertise opportunities. combination scale team Golar’s can of track a We’re liquefaction the small for land focus excited small about with believe

to call will present to We are Eduardo over now results. hand considering LNG also QX the value throughout I opportunistically our M&A or strategic the partnerships chain.

Eduardo Maranhão

the third very on our And group I’m an provide of to everybody. Karl. for pleased Thanks, good results update XXXX. morning, quarter

wanted I show X, quarter. to financial to of over of slide the some number this highlights Turning

operational QX from derivative of total a tariffs to on oil XXXX $XXX continues instruments. and up million, also and year-on-year total on gas XX% very liquefaction the services, gain compared FLNG of recorded is of revenue comprised Our realized performance basis. We strong. FLNG tariff

$XX of this gains quarter, compared million This recorded TTF-linked million million. in QX other compared as $XX gain in increase $XX investments. million recorded on an million gains unrealized this swaps, We on equity derivative $XX of XXXX. year-on-year we $XXX including income other basis, interest of on unrealized When $XX derivatives, of a of well an earnings million other adjusted shares, EBITDA method represented NSE XX% as rate of on and to -- net for unrealized net from instruments, quarter,

million, Our end to $XXX a the compared last significant quarter year, of we of billion debt. share had the at of reduction of $X.X when contractual same when was gross QX the debt

projects. to on continue our allow future growth we moving So slide X, to the which pursue strengthen Number FLNG balance Company to sheet will

the Total of position position more of contractual sold, $X.XX Karl shares, total at net additional $XXX proceeds the position have $X.X of listed billion. today. NFE $X million. $XXX Cool before, million. end before at we than $XXX the just than and we Company have liquidity mentioned at million cash we X our said When considering in a as We shares in raising now stands cash $XXX hand debt, cash take was to Cool Company Our million shy stands quarter, million, X.X net of Further cash a securities of total account now I of billion value of more currently NSE, When QX our Avenir, billion. as into around our million. the end and

side right our significant debt when hand have until see which XXXX, you is As this no maturities on million mature. of slide, the bonds can $XXX we

beginning our fixed of think TTF-linked slide we started well the tolling very times to some way as And Karl earnings attractive year we a receive to which by turning a tariff, a managed TTF also have in as to EBITDA Also, So, Hilli’s tariff this into And production same amount of have like tariff, in a a so from has number strong mentioned as that, comprised Brent-linked X, generation, million, main at Hilli. this $XX.X three components. of is tariff, which result before, quarter as we continue X.X of a provide We I is level. the see further which very just to year. our recap, insight we the before. totaled increase hedge Hilli had we’d a that

moving slide So, to X, provide wanted regarding further update I to some arrangements. our hedging number on

of at swap of exposure secured our arrangements per hedge have TTF of the including which has million $XX EBITDA MMBtu to into level We Golar. to XX% distributable $XX to QX entered XXXX

our We around per will million XXXX Hilli. over consider projects. Golar. XXXX and share XXXX, on is have to levels for the and that, XX% FLNG at around EBITDA total Hilli’s also reach of just free distributable is debt $XX call Karl, we we next who in talk equity be our expected Based I’ll flow service of our expected When hedged in EBITDA around the which expected year of adjusted about cash our now have for future to million XXXX. that hand million, of bit from $XXX of more an share see generation to $XX a MMBtu of to $XX an production additional secured million XXX% of $XXX $XXX TTF-linked to

Karl Fredrik Staubo

Thank you, Eduardo.

I’ll now Gimi startup update schedule half. remains during update. XX XX% of second half Slide and Turning to for contract next on away complete The year, and during on construction unit sail is first and

second revenues and commissioning expect half year. to next of QX during start booking We startup in contract

of doing to Golar, We On terms As the the a reminder, average EBITDA scale are Gimi we construction slide X,XXX with every bit XXxX daily have contract in what million of of years, about Gimi year will once elaborate we XX an of for activities. team generate a consisting $XXX a construction project. now XX, in startup. workforce

have man to-date. hours We XX million worked

We have of new done steel equipment on and installed tons board. XX,XXX

have cables the enough a year will than to vessel in initiated between than of U.S. tons are unit and and the of year, million X Once Pre-operations by power X.X more XXX more distance We homes. LNG people end. to produce X,XXX installed the Rome. that’s about million London to we mobilized will equivalent of crew have per operation, kilometers

XX on FLNG on slide projects, unit commercial delivery we of are lead view developments increases Based drive FLNG for attractive client FLNG for long an to projects. plans. new and the the FLNG securing to our growth value Turning that prospective and for update strong with new ability a engagement

a main commitments that for lead to and million. engineering long company for than XXX million required X.X secure the engineers XXXX. third Mark around items with We shipyard, within total Mark from more delivery all the ton II II engaged we topside placed working in Included FLNG Golar, $XXX development on and and new have of [ph] have attractive orders provider, party therefore

upstream with the On an commercial an attractive integrated company together FLNG project. we to side, are working develop

As mentioned, having. large are both, prospective independent fee an attractive have for company. deployment on see with the gas paid we FLNG and integrated agreements economics on clients supermajor we signed proven and development of FLNG remaining potential E&P behalf a discussions currently new reserves tolling We for

This the MTPA per Turning per $X ton. plant implies to $XXX support a for on was price This per XX.X% a FLNG Morgan to a the Tango, their that price between an capacity. In ENI CapEx Kinder announced of in per close Elba $XXX ton liquefaction $X and Exmar value of is which ranging we liquefaction to billion also Liquefaction of liquefaction a of of of and unit, XX In sale $XXX X.X to value August between have the to which near-term ton. its million. million at guided slide ton billion around compares sold of capacity. of September, $XXX sold implied a

that to flows, placed is assets to cash further from near-term confidence the charters why have from support we which people long see lead we attractiveness are items. looking but acquire and the also valuing giving So, liquefaction

we XX, FIDs have Turning year. of by overview prepared to slide historically an liquefaction

in overview, As the Asia. from surprising tons gas XXXX, that’s you scene liquefaction far and been prices, Europe and both in million geopolitical capacity the could the of given there’s entered argue One that XX can see somewhat so into.

required surprised know governmental approvals, terms are and the the projects. sign-off size engineering large project in of the of offshore this by we infrastructure not We environmental development, takes how FLNG because share for just long

activity. FIDs Connect’s driving will significant by FLNGs. U.S. is S&P see liquefaction XXXX. significant agree and majority that FLNG encouraged tons new million of XXX -- that of very sorry, to capacity of growth until tons in part million of the hopefully be forecasted however uptick are view we’ll in new And next We supply Interestingly, the XX year, the a with we liquefaction

key three mainly per LNG we have to distance liquefaction slide MMBtu you around When $X an end shipping cost Turning reserves reasons. source current, continue on gas, and XX, inputs: African We project, and gas three focus FLNG $X $X. source versus can to of to we believe African prices to costs, for project users. do have at you we

So, think we’re XX% We a new X projects from costs advantaged. times our input have outset. of of liquefaction X the cost to

$XXX-plus-million To to, Europe a and you Asia. XX, that’s from our call you’re competition, company to $XXX $XX a the the million. As Eduardo centers, of to all our And $XXX closer slide all outset. advantage Company linkage than that bringing alluded production EBITDA, slide contracted think commodity land-based ton million liquefaction XXXX, one summarizing quarterly and oil at presentations, familiar market the is adding users, another linked and business a be both have but to EBITDA And maritime good we of Africa upside three see current summarize, with if to that model our explained, another competitive in slide. TTF north three, delivery on of key lower will and yet Add rates from happens of of add we the CapEx in EBITDA turning in to we solutions. well end adjusted have per the adjusted West million. cheaper Gimi both In

the rest have $X.X where cash billion now liquid in securities listed securities. cash a we is explained, and $X of position and As billion

just cash of $X.X position shy for positioned with billion, FLNG at We slide net as billion. XX. stands us uniquely growth, a dept of highlighted contractual Our leaving $X believe around on we’re

since track FLNG X.X million three million X of production On ranging from have you record is see reliability to tons. slide right, globally. one FLNGs the the project. Stability a liquefaction period. and We to startup, other any Hilli key can see has been designs solutions for has the that you had not stable And FLNG production for the can case very same in time which

FLNG liquefaction produced, Mark the now items. have considering attractive placed have focused we CapEx are footprint per ton projects we lead story also altogether and orders gives We have people To the compelling which on lowest ton, for lowest and per of II long growth carbon summarize, FLNG. this for

from We XXXX XXXX earnings expect our levels. to to quadruple growth

billion $X.X securities. have We listed of cash and

design have around for $X.X FLNG, market as building where continue We which of value been gives healthy focus is combined, hand our been Golar a what questions. operator so and XX in LNG and free proven we any record, has we the of have billion to the leader in confidence That flow cash to concludes XX book and this our with remarks, both generate on to a equity. operational years, strong for growth to I’ll us efforts FLNG. prepared it over track

Operator

the Tsung from [Operator go line Instructions] of question first Webber from Please Research. Chris ahead. Our comes

Your line open. is

Chris Tsung

to guess FLNG the share, will hold plan be there NFE in on plan CoolCo project. companies for or rest of what of projects about also you Avenir? future divestments these to you the on some divest to? And touching I Do Just financing percentage

Karl Fredrik Staubo

to we undertaking. we moment our being will said we core in reduce but view are to we there do all sell stand fund core that and reduce need investments II It’s have that feel is growth, shares at previously those we if we with our growth have We shareholders current project. I view will other fund think growth. are we shareholdings. the to what financial than like Mark that our safe But say any have happy communicated, But cash comfortable to as definitely of and better we’re and names by, of as previously project initiatives, consider we we if very we focus financial attractive the don’t on be to further to investments, shareholdings that sitting cash. as position to when now our shareholders all

Chris Tsung

Great.

Does another you less depend Okay, is or of take this Mark just or does you delivered when items XXXX, in timing secure be when one that you release, -- that that lead guys for know all thanks. II. long And have I guys press the could it FID? more in on

Karl Fredrik Staubo

in is we can what required still that ensure to is XXXX. That deliver

So, critical is a lead by the long timeline. definition,

that to you as II to long ensure secure safeguard can that as need take of So, you of ‘XX still delivery progress the those, But investments you delivery. course, you Mark delivery. the

that some as everything ‘XX. done at well. in FID track But now, we for for have on are formal means delivery that So, point we to ensure

Chris Tsung

Great. right? Thanks. just to Mark And the II, an that’s confirm, integrated model,

Karl Fredrik Staubo

It’s the the So, be to the like units can used customized the on integrated is is a model of day. of the ships. ship tolling. not at end commercial and The ship hardware

several engineering feedback discussions we there have for both the One So, attractiveness and II. thing for together, of is put and been have timing. the that construction way integrated design. Mark II, are has tolling, strong very But, Mark received we on

Chris Tsung

me. for you. Thank That’s you, it Thank Great. Karl.

Karl Fredrik Staubo

Thank you.

Operator

standby. now you. our Thank We’ll next on Please question. move to

from Please Nolan line Our Ben go Stifel. of next question the from comes ahead.

open. Your line is

Frank Galanti

dig Mark This Chris’s there on I around on for specifically II question is Galanti actually last Hi. wanted to the Ben. the into vessel. Frank design, Yes.

a sort of to what vessel conversion, much talk about that’s you type sort Have picked you of you can that that out can already have need? how going Given that’s and -- you you sort around cost? of guys talk

Karl Fredrik Staubo

Yes.

are existing designs use plenty there. you Moss basically can out [ph] of you There take so an design carrier. ships, So, Moss

for pick conversion. that competitive shipping is less meaning require of which new next far should of them shipping the especially effect One for want ships disadvantages able from of into if to coming a all are Jan up, the modern Moss steam vessel more ships the them as that you to with means than you fired, these be regulations year, they’re that first activities,

we we can We several when Gandria, have We the a will are which suitable use inspected acquire ship own. to we candidates, and discussing if conversion. and also for

So, that we also use can one.

storage with capacity, XXX% the buy So we’re somewhat one not not higher another to like would buying ship. dependent on but requirement. it’s We

Frank Galanti

then, you elevated Can on about and demand. a of And prices of little increasing sort the Hilli? And obviously gears talking sort Hilli, European start global feed the extremely under updates bit tapped? possibility give in want around of sort switch the be to LNG production increased of over the given -- of is could is Hilli you increasing the Is can there current easily end gas any there sort the there that production of region the contract? before I

Karl Fredrik Staubo

Sure.

so It terms of benefit the existing in Perenco Germany production. which Europe. So has capacity to the the would would increasing in is and used been took up size second X.X, think now everybody’s flow be the stands Securing wells. nationalized constraints The X.X. two it producing the But And interest reserve, now to gas for for increase is SEFE. Energy offtaker, gas and from benefit the I the we’re it to name changed would be SEFE us, Perenco. Gazprom by of

wants energy, else all more energy. So, not equal, less Europe

could it I it give it’s triple that volume, on for production trying upstream Perenco’s production. of it’s But any encourage And fair not all whether right we too standing what’s it’s under or to really and early certainly we to X.X where tons. Perenco us is a to increase part it’s upside. but guidance we’re that to see be is possible. don’t And increased it’s think say, SEFE of So, down a can think happen to I potential which now, more and at gets win, bit a because say think control. the million it,

Operator

Brothers. of the comes from Shere Craig question line Tuohy next Our from

Craig Shere

a you’re customers envision with over necessarily next you So, to major scenario, a way the the is months? XX be of in now preparing independent II, best case one negotiating super Mark could with, targeted three FIDs FLNG you’re really perhaps there the or E&P prospective

Karl Fredrik Staubo

time. at business engineering FLNG and up as development, do for one prospective the activities growth. we and We and both important are projects, we FLNG like sure, a engage from both do significant ordering to a Let’s equally lead, is ramping our but of like team. long shown, But to clients have

not And that there one. would more so, out rule certainly we could be than

I think are because let’s these large do one at time, a projects.

move at think here we’re time. But on on yes, I one opportunity. focus to this let’s So a

a balance to it. have sheet We support

organization we company. an And to across support have the it. have We focus

Craig Shere

also point tolling over you So, out rightly don’t little BP included want you more a too both, and and far negotiations get are integrated like when I projects, looking skis, that arrangements, the latter large presume. you Gimi, your the these to your noted

if my is, So, construction I you successful given and your a I investment how options, the the question your grade off could guess, do for a better funding these of shipyard to investment interest considerations attractive toll? that given ability your than Gimi and mean, another toll, decades were contract? long-term lot get highly of original to your shoulders, that execution lift about things, lever far rated think you long capital potential

Karl Fredrik Staubo

Yes the is short answer.

couple I of think things. a

we So, $X have billion cash. obviously in

or have in so listed million securities. We $XXX

say that refinancing post-delivery, fair there and think free can on in to particular, it’s Gimi, Gimi and significant I Hilli potential that improve terms. both, is up cash

the financing healthy FLNG terms at growth, term a during also attractive received LTV. we sheets FLNG about of for If projects, growth you we when and even read spoke QX presentation, have construction

sheet. basically -- not do a for cap after is any really operations we and we for balance capacity sheet the So, and what can puts lock do FLNG unit on growth balance see constraints engineering --

Operator

our on Please to stand now by. question. We’ll you. next Thank move

B. next Burke comes Our from Financial. the line of question from Liam Riley

Liam Burke

Hub. MMBtu they itself. look Gimi? your slide production just gas generation the vis-à-vis -- on is efficient the the cost reduce African process FLNG production, you at and production per XX, FLNG or you vis-à-vis the Hilli highlight more can Are next Henry When Karl,

Karl Fredrik Staubo

more anything, of car, previous model of the new and when you then tends So, you model efficient be like one. build have somewhat a car, make it it than you a a facelift a to

do So, improvements. we constantly

versus the Is. some it think When break what’s that’s tons And going it. X.X economies cost, the accordingly. don’t more tons day, there million to is end of scale, the don’t So, Mark it’s it million X.X you operational to is slightly need around at make start-up comes II Mark because I to for efficient. or

So, more MMBtu will it if you by somewhat of design. scale of but of think efficient, operating be economies the improvements and produced, efficiency costs per

Liam Burke

any seem It FLNGs? production, are competitive anyone from And of have do interest and developing majors you the in development a you increasing you increasing energy great and see E&P you seems by else that independent to deal efficiency are companies.

Karl Fredrik Staubo

are the on sheet operate we The for oil FLNGs companies are their FLNG do other only world balance Right the Yes. and that only owning ones own gas in that FLNGs their service. the operations. own now at

is So, see people as only this Golar. the service is the have based on what today And we there, doing other one you pursuing that out that.

shorter NFE notably use most we where we is are producing on downstream and portfolio. because to hydrocarbons or encourage in But needed what doing to solutions. new is and mainly on timeframes, I they they merchant the can think it’s the able in too solutions, that time their focusing be development for think liquefaction own their provide industry liquefaction

service, as solutions of competition limited credible for liquefaction have size a we from we the competitors. So, see

Liam Burke

Great. Karl. Thank you,

Operator

Please move our you. We’ll Thank on question. standby. next now to

of ahead. Evercore. go Our next the from comes question from Morgan Sean line Please

Your is line open.

Sean Morgan

for Thanks the Eduardo. question. and taking Karl Hey,

for what and when target have with the the for in the partners molecules that sticking of down do see reaching African call, major announcement on is for just month obviously think a timeframe we upstream And extracting half is FID, of have sort talked of of new think these that to in oil announcements? slowing about end negotiations is and with biggest possibility date project, new national companies what sort or the and countries? are kind nation terms new the I the the about it we is West you by still points XQ, it of a you work space agreement, the for there left, a that. so last bottlenecks I a FID are But an guess XXXX for you the

Karl Fredrik Staubo

need everybody with, technically can it work. that to you projects item be it, sort the like more -- also the, call a take with the have jurisdiction key all it what very the all making is that of you integration engineering to upstream planning But midstream, this for project get The Once is approvals, and then efficient. somewhat and governmental can making of gating long. subject comfortable plan

I think it’s it, a thing the of it the important. the it’s at all because sort things of matter But the cake. bit, the the end to terms to commercial day, that are of divide dividing cake, sticking bake the [ph] not super to that other work, takes not is if one put But, the way. time

in terms presentation. our of to really that we drive we think is these In to I see timing, attractive secure were -- that bit ability we with to see clients the important trying highlight is value more significant. a delivery. It’s what that this And

then If drive that to you value have more our people wanting in there tends something, favor. is available

deadline having focused most on value correct execution I be opposed to a a painted and we’re corner. drive to firm as now, think to the have for So into

Sean Morgan

I I kind to goes Yes. think that bad sign commercial want mean, to don’t you up without saying of terms.

commodity obviously, guess, for of this guess, -- TTF floating of have. of kind just exposure exposure what’s of and And of oil in forward the your, different oil. a probably So success and then, kind I volumes you on, terms curious, limit that TTF in of and on I selling lot some forward some selling

would the more could try months, where ‘XX, like XXXX, are of process right sell curves, few and You’ve you next ‘XX from of we end of look forward over the you as how really to forward take gone kind at kind kind exposure you now? that far and at of

Karl Fredrik Staubo

the XXth. linkages commodity on has contract Hilli, Hilli July the are and till So,

looking we we all are we hedge to So, like the there, price. is, do volumes TTF probably will overall and way what out can the if

lock matter us, visibility in with provide can what dynamics and weighing cash flow a of the it’s for in for. So market really the we price

when have real and those have some or with constraint. not But relationship volumes. between now value also now, at timing you our risk or margin to producing that you that’s start sheet a balance the You forward the

On tariffs haven’t a we Part at Brent X we the because X. reason of is hedged or thus on have far. Brent, the the ceiling

So you with you of if you do massive need potential to don’t calls two do end collar sort there. it’s up bigger sure that and to make a margin it, margin volumes

likely price level the are to TTF, we we overall attractive. if do more So, find

on We -- likely do side. out X if anything period. in subject are long can currently change brand can But the that to we the or less lock X

You max that’s your do it because anyway. earnings

Operator

Our of comes next from line question Greg Lewis from the BTIG.

Greg Lewis

a had I question. Karl,

You time, you you this existing at cash position mentioned realizing potentially strong have a pretty around -- and in and point mentioned refinancing projects.

based As higher about the we price? we been construction where which made, value to marking can kind potential on than you could comment earlier, the slide be I other value, were you projects and financing loan where the implied of think appreciate have reselling. Could see the

Eduardo Maranhão

Greg, this Eduardo is Yes. Hi here.

to the yes. I question think your is answer short

to as the vessel. construction the they of said, received which -- have potential few that have willing have could blenders indicated we Karl We for beyond projects, price look a to funds levels new from actual into FLNG indications be

So, to a to for value regular land a instance, such a terms I the at Gimi, or would as like loan long duration, contract we it XX% XX% what XX-year think look look we have usual do we have of beyond in look with LTV. when at the and levels ability or

that think contract to the serve the in debt. effectively we’re of So, looking that ability I at case,

on could looking those Gimi assets $X.X finances loan billion value excess other of to look $X.X that be we approach instance, alone. for a believe just feasible, So, at to But and at basis. banks the in billion have different a

around XX% believe achieved. value of could instances, be levels at the that So, the we on asset those XX% to of

Karl Fredrik Staubo

on Just to LTV summarize, by the It’s financing. value deal. that not type more those driven prevalent proposed those contract this the of it’s and for

Greg Lewis

see did hear. is Thank I you scale investment that of there kind That’s you we it could framework good a Realizing us really can any project could to company. words, want kind I LNG, not timelines is next guess company ask be from the the you Macaw? sooner? or two around other in just In three this stands? something for that -- of where that. or that years, how small with the also Energies. to active tell familiar Macaw I’m to highlighted in and

Karl Fredrik Staubo

one that modularized to they scale shore attractions do is small is I of the what liquefaction. looking think are based there

advantages to the and smaller of is is scale time flow in modules building that shorter. One cash

to You environmentally And economically if it’s plenty something flare attractive, and stranded right do. examples can use gas thing it’s only to the also gas flare gas the of and have of you it today. liquefy sensible, not

focus would on next the months, there on to equal, XX take the and sized. And steps shore mainly all that design on we’ll But, exactly ready the smaller those Latin floating do sure within modularized based plan are performs, that the we it’s how what on sides U.S. one. and to for design So, the else have subject then that is America.

Greg Lewis

And then I question. just one had other

question word like make project you kind the What Karl, can time, the Are gating a as doing time. construction or us shipyards, is to the at multiple market biting factors? and give multiple about today opportunities color think as number win the have any the around a a think potential time. about As do of around obviously, you at the are -- chains, project mean, follow-up previous of same I that? kind to supply labor? maybe decisions one under gating have and And one the factors units projects more better the to you the than a right of just -- at been we have that

Karl Fredrik Staubo

kind of to above. yes all of It’s the

in to end for not project the FLNG the where subject it’s the the But projects, we -- annoying and if to item upstream a that that’s this, time But it. of they about thing, be day, push the clients order it you will FID FLNG. are the the somewhat an all think the most to project. at that willing mature It’s of enough need building FID, takes infrastructure. You of to lead from get long is all

of an some see just are us order, or if we the do delivery place And the out therefore, an of projects driven position. development significantly than increased FID. and close earlier II we go So part if attractiveness these to place of you then would that’s orders long lead -- have Mark FLNG what’s that to don’t you available because the for how have

Greg Lewis

to I long of design, if always understand $XXX items could you would I any lead III down really less Mark Mark so all-in which to cost? Mark for lead require guess how is items the long million this, needed just time kind the go those If then II, kit. where much Mark a of -- sense the I design that probably And would I specific time III was Okay. there

Karl Fredrik Staubo

The the are fact of it’s top of they on ordered, same equipment have most based our the matter because designs, the is interchangeable across that we side.

compressors, boxes do interested you very are what longest are is biggest and the side steam and forward, lead So we package. centrifugal components recovery, gas lead if items, turbines, have which cold generators, the heat top long of

we But where vast III, to either that’s in two if majority Mark whatever a II put So, because of be for reason ordering it them to we mind pool. the equipment strongest had Mark absolute see designs. customer put or on I those Mark the on that we of are with can

You order… need to

Greg Lewis

much. Thank helpful. you Super very Okay.

Karl Fredrik Staubo

of its course, Mark III, for More bigger size. liquefaction because

Greg Lewis

Sure.

Okay. Thank you.

Karl Fredrik Staubo

you. Thank

Operator

are time. further no questions this There at

I’ll remarks. call the So, for you back hand closing to

Karl Fredrik Staubo

results. good soon. all you Thank you a to day into and listening for Have Bye, all speak our bye. QX

Operator

conference today’s call. for you concludes participating. This Thank

You may now disconnect.

Golar LNG Limited (GLNG) 16 Nov 222022 Q3 Earnings call transcript