GLNG - Earnings call 3 2023 | Golar LNG Limited

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Operator

Welcome to the Golar LNG Limited 3Q 2023 presentation. After the slide presentation by CEO, Karl Fredrik Staubo, and CFO, Eduardo Maranhao, there will be a question-and-answer session. Information on how to ask a question will be provided then. [Operator Instructions] I will now pass you over to Karl Fredrik Staubo. Karl, please go ahead.

Karl Staubo

good all and you. operator, you, day of to Thank Results QX Welcome LNG's Earnings Presentation. to Golar XXXX My name Fredrik is Karl Golar LNG. Staubo, CEO of I'm our And by today CFO, Mr. accompanied results. Maranhao, Eduardo this quarter's present to

note Before the we the get presentation, forward-looking on Slide into statements X. please

overview BP. In for Gimi, carrier, and contract next XX-year and FLNGs. acquired its Seatrium now in which Mark operating start delivered Slide Hilli to vessel. today. in Perenco on X Golar is Singapore delivery an convert from to LNG Mauritania/Senegal expect II we the in We to take of Sunday MTPA Fuji, QX currently Turning to Cameroon a intend towards The for year, we X X.X into FLNG own operate May of and and sailing which and the Shipyard

Mark one considering for We addition storage a has Arctic, to for FLNG we're, carrier, class. remain have sale. We just conversion. therefore suitable FLNG which including membrane X-year its committed growth to the been in not alternatives LNG designs, and And also the in of currently own vessel, through chartering Arctic or X system is FLNG presentation. and to has capacity liquefaction II Gimi, therefore, later the Hilli III of liquefaction X and annual Mark elaborate tons X.X annual develop with million incremental our capacity. We'll ambitions and growth time Mark design spent considerable tons on and with I resources of million more

LNG an X growing bunkering We LNG and company, on in Americas. And distribution as focused maritime Macaw local a Italy. Avenir the terminal also targeting monetization Sardinia, the company, well a market and small-scale X have operations investments flare owning gas as LNG servicing in small-scale of LNG Energies, carriers trades liquefaction in land-based LNG,

Gimi its is an Mauritania. offshore on milestone is a X. the completed for to Golar. at to construction way in Shipyard of and FLNG its The pleased field Senegal has construction and currently Seatrium Singapore announce that to Turning Slide We're GTA major

the highlighted now some We statistics of conversion work to the scale have give complete. key some perspective on

XX fit construction tons X,XXX liquefy space has turbines, million deck equivalent equivalent of homes. or XXX to conversion, hours itself of the we've Xx was to output XX,XXX buses. the X,XXX wind conversion around We've has XXX power This sponsons, The adding megawatts caused topside man of almost working we've in liquefaction vessel natural added XX,XXX added side taken constructed. During XX,XXX challenges all cabling, gas. which The been basketball of undertaking which requires the of of to sufficient power, conversion needed of to top to steel, XX added the equipment where the to midst project. years. Through the double-decker courts equivalent significant COVID, Singapore, is the kilometers

are pleased of for under we However, look contract vessel and the now a forward the outcome with to into get on operation BP the GTA very field. the XX-year vessel

more contract compared of including July for commercial slide, capacity at contract the interest increased the XX, to execution model. We're Golar of on the this on started milestone. up tons milestone just October to XXX stable its for first higher million expiry testimony as FLNG since of performance and compelling quarter. and to recontracting of of Hilli team speaks continued meet The world and the at deliver more with Hilli operations quality side X and for delivered #XXX right-hand in the the XXth The X X than offloaded different another detailed economics. and cargo the its of Turning discussion production Slide in in Hilli to operational represented or the upon since unit opportunities to start-up, sign of rechartering today's the XXXX. the utilization current cargo seeing

capacity to an construction overview and of million par Golar in of also X FLNG Petronas the measured Turning owns lowest the installed per FLNG of and by at with demonstrated of the Hilli tons delivery fleet. ENI of world fleet FLNGs. Golar the FLNGs and global largest capacity. the tonne the with have and in terms number pioneered with CapEx concept of Slide of liquefaction

maritime $X cap economics and is NFE to It's of We size the these LNG. Golar's $X We scale around the are a billion compared value their a FLNG controlled company's its alone with We relative to of billion. partnership. into of to proposition FLNG service the billion the owner of provider today where ensure commodity the gas service. of aligned players through liquefaction. the market through the cap. Golar reserves. and $X.X gas Petronas price companies, to ENI us and involved million only service aligned the reserves and targeted demand market FLNG owned to justifies gas monetization value of suggesting cycles tonnage the FLNG integrated valuation of this other volatility. of own or liquefaction a approach, of Shell model resource but as provider in know unique assets, billion, the offer $XXX for by that downstream relative offer associated not FLNG worth gas utilize Golar for or only of example, owners controlling at in position $XX enables insight for as maritime We're owners All a portfolio to gives stranded technology commercial

X compared equivalent Africa reserves billion the for technology. Golar's for that positioned we developments, other X proven best or these oil of to A gas CapEx exports. Africa's Slide to market-leading of rationale per are solutions, of has of FLNG attractively flared stranded, are monetized significant either why including tonne for are through Turning in developments attractive believe portion Africa barrels reserves, Tcf FLNG production. shore-based liquefaction XXX of maritime reinjected. FLNG cost XXX and energy today set a you export U.S. proven Asia to ingredients cost provider role cheaper service on of if exports. gas the and African projects are closer in Golar's further for all FLNG X drivers, projects business compared only reduced African proximity well FLNG in model with costs. Europe expanding active markets the shipping Hence, proven is LNG to as as service inputs, an we believe positioned an business is to take a key attractive present. and position have

million, for Sunday a the Gimi commencement Turning track #XXX. Hilli, as Gandria, now north consideration now million, X net delivered the from market-leading to LNG way the on and Slide its and on shared X Singapore we partner integrated referred the to FLNG Hilli, On a the lead $XXX decision. On continue of align to include and business continue expected for progress to vessel we finalized Golar XXXX. came an different swap final in the commercialization our where economics to Corporate operational $XX we step of proceeding sign offtake prices. On items TTF the long continue field with exposure commitment projects EBITDA next Other, and LNG $XX March of on have X, continued in within delivery obtain contracts. carrier, over vessel to quarter million in and cash the have to donor sale GTA model position rechartering receivable. We 'XX. The to inclusive update. detailed to, cargo before million. commitment development, XX-year target On target of quarter we business its discussions the investment $XXX about for sale with the QX on opportunities. redeployment is record is for upstream adjusted Current terms of at

program, returns acquiring shareholder in on $X.XX focus our dividend total the million now and continue quarter outstanding million also X.X at XXX.X for shares of quarter We our declare continued the buyback with a shares. shares and

established gas on in majority track first distribution company Energies, acquired pilot Our in deliver flare an the subsidiary, to fully to natural remains in [indiscernible], owned within Macaw U.S. LNG its a stake Brazil. Macaw XXXX.

CapEx we delivery, We Gimi cash CapEx inflow outflow cash operations expect flow. With get now go to through to Gimi from earnings. XX. through see Slide to cash to and on a forward started to look from transition Turning

we the now unit. of optimization As construction project, risk on for is the focus taken will out debt

size, increase an repayment facility. in target current in debt reduction will an and profile a to We the facility duration compared extended margin,

with and potential for discussions sheets We are terms in term received with vessel have debt. potential new lenders improved

further upside extracting Hilli capacity the upon value at liquefaction recontracting incremental the earnings CapEx, of limited We installed full also in see our portfolio.

and we we're we're be and or shorter total subject XX reach ready but of on to conditions. Once towards we one physical Turning BP steps to XX is next mooring site can will sailing refueling days contract connection about crew Gimi. take FLNG. until notify Slide Mauritius voyage to weather planned for undertake changes. Gimi X is Namibia tug. on on by is now start-up in assisted and the elaborating and own to expected longer propulsion that for stopovers their site, The

commissioning months, start further is but complete, the first start upstream the the will -- commissioning and which partners Once is date with of to of the operations actively we're upstream period. and commercial FLNG. GTA at on will target working take XX-year will We supply start Once then to efficiencies X to commissioning introduced gas field. originally FLNG, the gas period, we make we GTA a commissioning then scheduled to project the reach contract the the

Turning orders items II Major and and been our Mark long-lead XX under to construction. Slide have are progress on FLNG.

than now risk take the the right-hand when hours engineering execution we XXX,XXX construction can is to execution, This allow fast you of months about by more picture So shorten the XX taking for on see track and from reduce with will shape. which side, project FID. time combined from several date equipment

execution 'XX. to the negotiations We donor significantly, commitment intended commercialization as for QX of on project. soon II delivered us the ready Mark expect as units. The Fuji as engineering LNG contract the EPC be have and advanced is to have vessel vessel and in for we the is

ongoing continue and are Mark project-specific streams interest We applications. see increasing several for to for work II

Turning Energies. to Slide XX and Macaw

in flare LNG As to in track have U.S. QX next available of liquefaction is on explained, pilot the the the first to year. company

to at us results. platform this hand to stand-alone looking the into the include We're a take of call now take the start could place also up entity expanding expected over We up XXXX. I'll and to Energies listing of teamed EV further pilot actively during to in a is commercialization to Brazil startup also LNG Macaw, in portfolio in separate group through QX. Operational to Eduardo asset of gas expected Macaw charging with provide QX. now recently first midstream potential

Eduardo Maranhao

morning, and overview I'm Good performance QX. you, share financial of to Golar's thank Karl. during an everyone, glad

significant and milestones, This by has excellence operational at delivery marked of Gimi quarter including been the continued Hilli. the

derivatives. to this FLNG a is tariff Slide over a total quarter. of some Total gas I commodity-linked resilience EBITDA to financial a FLNG reflects which and million, Turning to oil lower revenues realized robust $XX of performance non-GAAP $XX commercial wanted affected marginal our dip critical this Despite $XX amounted operating underscores compared million, fees. the liquefaction at from million. realized approach show in contributions with XX. to highlights reaching the revenues, including to gains on of QX, tariffs by model. Adjusted comprehensive came metric,

Important However, TTF. prices. by are these we basis anticipate higher Brent rolling QX to and the in on month TTF reversal months note for and a Brent average that positive for pricing of previous driven a X X calculated ahead fees

This of of oil had QX. unrealized gains $XX and income rate million, $XXX from million includes total million net boost a and unrealized significant in $XX million gains our $X swaps. quarter, items, noncash compared This interest figure such from a as derivatives improvement we a gas to

billion, robust, remains hand total our TTF position the $X this cash million. of With our under debt debt when unwinding $XXX Our was standing net contract just hedges other at from and year. includes $X.X close to billion, position receivables earlier liquidity on of

last XX. same last generated of TTF million. these $XX we XX% maintain comparison quarter Hilli's million QX, on tariff to of down to $XX to Slide numbers from fees quarter. tolling during how year. million we moving the of basis, than see and $XX fees performance previous million QX, were When linked year-on-year greater down in which break million with to When can fixed $XX last million Now a $XX Hilli quarters. from in We looking compared a Brent-linked consistency $XX is slightly quarter decreased

expect XXXX. on the impact lots tariffs we driving for prices, explained previous oil higher the from I rest As and of slide, see positive of fees increased and variable tailwinds from a these gas

TTF Moving to XX. see the of we We and for prices on XXXX. remainder Slide XXXX exposed to can remain that

locking hedges variable from fees TTF While time, The previous revenues. fixed and TTF to at from our gains same the we tolling swaps. resulting benefit in Brent and expect the will unwinding allocated addition effective gains of from be our to locking our

or XXXX, gains. of year QX EBITDA approximately for the from the in -- million expect BTU can improve million locked-in TTF, per of EBITDA expect of approximately for XXXX, dollar $XX million expect this between we And or $X.X to every now how between So per we million make full million our secured quarter. To $XX $XX -- illustrate to per approximately in in the year. earnings recognize we those change

prices forward this. on should year, million around just based for So $XX we from make next

In the barrel dollar million per incremental to addition Brent, above to for when comes is every $XX. that, it $X.X movement contribution

look at we the next be when around should So 'XX million. total year forward $XX prices, contribution

the managed As repayment margins announced existing we to of previously Hilli financing, lower in and certain including QX, extended profile. improve terms

as million slide. can alone free to As on cash a prices, based of between an and you is equity XXXX, result forward current of that on to Hilli see impressive and flow this expected $XXX generate XXXX

XX. Slide to moving Now

under remains from supports amounts flexibility the Karl the back of sheet to fully described and ambitions. new increased our and including as the TTF same on development shareholder equity billion strong, have position, hedges requirements II construction returns by fund and we units, slide. level the Current a in growth just $X Mark FLNG cash for to receivable great of time, balance at liquidity Our

Hilli to including construction left initiatives. she's Gimi complete, explore among in contract, and of could that that the and liquidity is alternatives optimization Macaw further asset Avenir, Arctic refinancing other yard refinancing and term, continue and near new of further spinoff a and enhance sales We optimization the potential as the such now to upon of the

payment ]. we dividend a This XX date a of or X $X.XX December a [ share, and record of with December on declared about quarter,

year, approved We shares have will million be buyback provide On leaving returns. to further $XXX for program, free repurchased pursued. Hilli's XXX.X pave opportunistically quarter, shareholder the to available the of continue backbone top We'll buyback outstanding. X.X program. remains Gimi's million shares start next this generation. repurchases, will support flow for and expected the in to share strong way million $XXX current that, million continue of cash Out the of dividend up which increasing

hand Now over remarks. some I'll to closing Karl for

Karl Staubo

And and TTF-linked XX Brent its diversified from just Eduardo. for Slide next by Hilli as to summary Thanks, base has earnings, revenues a and steps. described turning Eduardo.

Hilli ship. Long we're II other now and FLNG, X about the several discussion FLNGs with we July beyond opportunities, see Gimi different the on detailed rechartering XX, the contract, design contract, will commercial are of with yard the Secondly, start-up items well parties increased We cash double and making flow. and Mark amount commitment. interest in progressed interested for for are for the in lead engineering ready is our charter focus of

to be operations continue prices. Potential XXXX. exposure to start-up commodity with projects target could integrated in of We

around As in million Eduardo $XXX we have explained, liquidity.

is to we flow. There of the the I'll asset capacity boost allow for share continue With the assets, have buyback buybacks. That to debt of potential shareholders Gimi noncore now potential the cash And debt and hand potential call thank continued for upside concludes Gimi, in presentation. questions. now debt I'll There's also refinancings dialing share are delivery any existing optimization. to QX for value the in. under to we operator program and over of FLNG XXXX. There's a of sales start-up return the you further to spin-off Energies remarks prepared through within by for we following further all the the targeting liquidity liquidity dividend Macaw optimization.

Operator

from [Operator the first of Instructions] line from Stifel. comes Nolan Our question Ben

Benjamin Nolan

I'm And leave yard. -- it getting Gimi that congrats is to in the the a Karl, welcome relief see first, Eduardo, on out. sure the

cash I think you Gimi, know and it period, commissioning. as the look me could but what get to payments, of the to sort the color maybe those through like any maybe -- commissioning just looks what flow the how prior until some revenue relates you As to like help should

Karl Staubo

the thanks Ben, for question.

commissioning commissioning. At a period. any make the So day the point, in plus a fixed commissioning revenue fee contribution only upon LNG starts produced per we actually tolling which for

and into period as shorten commissioning take explained, commissioning to and we're targeting alluded months, working is the earlier. As X time with COD to the period GTA frame the targeted get to, that reduce to partners also but

pointed the day commissioning Golar correctly addition with would you of. contract that rates in revenue. would day the provide we time. on rates also mechanisms that a contract to currently there As discussion we further out, a given we are these with are disclose are the are relevance in Those of that in BP discussions, those at And point mechanisms in details later

Benjamin Nolan

then do being Is wait final that. that And Well, you of the my just right. to I'll And some able maybe second All I'm the do anticipate Okay. you then for mentioned the question, for something of prior Gimi. I curious guess return. the or that commissioning? can proceeds capital using about for to refinancing

curious, that? relative but easier option seem you Just it maybe would buyback that a overwhelmingly the to is a me how dividend, to about think

Karl Staubo

to yes, question, before complete. commissioning is the of is So answer the first refinancing we doable part think

have we vessel several looked element it's the refinancing important of the risk available. the take time, for alternatives in quarterly to at to for been explained get terms best calls, As some the us out have different equation we previous on construction but seeking to

on we we refinancing the increasing sailed, of refinancing we sheets, alternatives. And for Now vessel. which as have the that have explained, already find vessel attractive focus has term received are we these

flow expanding our Our primary to attractive focus FLNG is cash for to shareholders other and portfolio. liquidity return operating use growth

Benjamin Nolan

versus dividend Okay. Thinking between buyback?

Karl Staubo

have out At allowance. under the million cash program free currently of decision, shareholders. half that's of existing end the paying less $XXX than day, flow buyback of Board around a to we still the but worth we're And

a as of the the long we think a that do parts So to way share And of continuing is to is be should of is we buybacks company capacity shareholder sensible there to value returns. we think at trading where as discount both. think fair continue

Operator

move question. We'll our now to on next

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

Gregory Lewis

is maybe for guess I Eduardo. this

we Any it's variance the And that is versus in costing the what think daily As of to kind operating terms of of there about expense the the differs a contract Hilli? side? much Gimi. cost run language

Eduardo Maranhao

related the BP, we expenses under forecasted at the Hilli, is contract. Greg, expenses of According operating same look passed to operating arrangements so Gimi we the when contract crew. in as for with expenses are of the bulk the have all through and much our pretty basically the are to

start we once arrangement that follow should they operations. So

Gregory Lewis

guess -- it's vessel Okay. And the to higher able assume process I we're realizing or is it through I going than still to that? to a be during safe -- commissioning the going sailing. guess mean revenue is it's we're number that realize a I to at pass minimum,

Eduardo Maranhao

that's the phase, correct. During commissioning

be through expenses to will to operating able We the customers. pass our

Gregory Lewis

the spill Mark think to Okay. Great. rechartering. for tolling safe to of any work? into the related we're of the my guess then on the discussions arrangement, One gets really, to it's the say a given conversations broadly about it these I And is X-part contracted? fact Gimi Hilli other those in there's conversations, just that as is for over is not active interested thank we you potential speaking, type more a of there And with is the -- potential II then -- is the Hilli if that going detail question forward, a question.

Karl Staubo

spillovers discussions Hilli Karl. answer the the Greg, II. Mark with, To all that this part and commercial we're question, in first between are opportunities for the is there of of

of is suited for Some better them one.

many do can other, them either. It's different sizes CapEx but involved. is suited obviously for the better projects involved, of different Some

of and, us, II FLNG the gas gas before on is the pretreatment be quality, the some the extent, than we reserve gas pretreatment to the built gas because level we enters and So it's -- to of size what the about from really size there would flow but between space decides have would and Mark yes, Hence, have basically X, spillovers. more reserve are what with Hilli. flow deal for

the utilized the If spec of industry after equipment highest the proof done Golar, technology Gimi also of It's same pointing Hilli using prospect. standards, why correctly BP. globally. Hence, BP FLNG even BP. accepted see out contract operational FLNG and not given on fee is assets. for to Perenco of fees, Macondo that significant concept BP tolling and looking concept. meet fully was reward the we history And going on the tolling that risk you're sufficient the to contract but service can any type operating structure other the you for was The forward, basically a if known in incident, also bit the think the unit a standards so technology for that we that was well solutions, these for that contract of with entered we little if be because potential chartering only probably monetize mainly wasn't prove into is maritime of That's very are provider more would to has a the ordered integrated attractive our we

Operator

next We'll now move our on question. to

comes the next Bank. from line from Our Deutsche question of Chris Robertson

Christopher Robertson

Eduardo, Slide just EBITDA XX the and relates at this Karl on XXXX. guidance, to adjusted guys, looking question

between last Just number can kind the related difference delta level provide timing you the time? and Gimi into changed this goes update. around around I that the the Is Or last to, XX hoping what since guess, startup? that's update of quarter's in clarification

Karl Staubo

Eduardo? you add, Do want to

Eduardo Maranhao

sure. Yes,

we updated and forward the current have TTF. difference when So XXXX figures comes to the it curves with those is both I Brent think main for

fees So and where the I the will the that's on variable be difference those drive justified. of can Hilli think bulk largely

Christopher Robertson

Okay. clear. That's

about a and contract maybe looking downtime maybe CapEx range a you Just be at of questions this at it think what prepare of CapEx I for type will range project, around of time? next the but know contract? to where its the do current required there's go type would required are you the when requirements of it and thinking ends, Hilli,

Karl Staubo

include range it next than recontracting a duration of another we XX-year the XX new upon in contract upgrades. contract. the transportation which we depends million. guess, vessel go anywhere look X could CapEx But from, for geography and and I between Chris, any and really end, at the $XXX would yes, basically a likely site legs Cameroon, the to XX would is the low months to million location and assuming And be $XX very downtime, potential to to -- relocation anywhere on

Christopher Robertson

Got here. guidance project been items lead remind then projected just following on That's invested would CapEx us date the it. upon Can on kind an Okay. CapEx II clear. of and decision? what up long Mark what's be the you And FID to on the total remaining

Karl Staubo

Eduardo?

Eduardo Maranhao

Yes, sure.

So of which we million around out long that lead XX% has to date, have $XXX approximately committed $XXX in million or items, date. of been spent to

an and that agreed beyond schedule even with quarters paid those all have We be basically should payment suppliers, respective the the XXXX. over further of and going next end

schedule. So have on a falls price we and the an agreed price grid

Karl Staubo

to Mark to And $X commitment $XXX on million would related bringing II then the then current That CapEx costs. full FID takes billion, the and billion. basically commitment And to incremental total incremental around -- the engineering ship picks the upon $XXX is approximately be around or million. $X.X then

Operator

next on move now to question. our We'll

from question Wetherbee of the Christian Our comes Citigroup. next line from

Unknown Analyst

to I up on Chris. on is time the some line. for This Matt on details wanted follow Gimi the of

and that little the and that conversations December so the that to further understanding potentially first right, If hub first when begin when further sort arrive everything it's GPA, could expectation, rail full quarter release line. to then impression the That put potentially will at that correctly bit under realize the next could towards ultimately was just on rate. we at months, in the gain sort of around in on press correct? XX. site take the realization? currently that flowing that, commission see still And of X of arrives which that should I'm GTA mid-to-late on clarity full from trying And in that is time year gas end see because Gimi a approximately would maybe occur when was clarity I -- you some Just today, year,

any great. there So would details be

Karl Staubo

to is days take around XX Yes. so Matt, from the transit today. expected

as around to call Cape, So possible includes which really do the we're looking, those flowing more. covering gas available low to project would the there standby X would going And XX FLNG on key partners' days in It's possible. subject we to take hook and being we're day on day date weather the and on we a that as on little send working start but ambition Jan, gas, project But frame. In it in with commissioning. event then are weather be that actual is as the commercial subject period. earlier relatively is the December, commissioning not and soon for partners And standby just GTA But paid as potential off extends. concluded OpEx starts effectively gas commissioning and to and again, that for the and flowing a as bit is contract tolling then the early based then which project to into shorten to fee of sensitivity. operations commissioning quicker. standby another clear staircase explained our up. The that months late And up make a window. Then rates liquefaction to would we gas, in, the time is up those Greg's is send being increasing a question, it, kicks available the to rate, there's plus site, is then until time a starting are fixed gas to to get mechanism the GTA rate day site rate then those available get we day the is we to send

Unknown Analyst

XXXX for as then recontracting that the opportunities a now Yes, horizon, I potential could that to be that sort since just you should helpful. touch just follow-up, or bit more a And Hilli? is detail. very appears in Great. last appreciate know on I see say, I of a little Really commitment quarter. the which on development contracting further

fully there commitment any and Just to the the understand the fully details likelihood materializing? situation of just

Karl Staubo

industrially of always balance what end early the that's only day, the a trying confirmed FLNG want and and the the at But discussions monetization early There's very the we of the we visibility, by the maximizes X. this end that Yes. commercial is 'XX, think to commercial trade-off assets and further available return is that think attractive, what of we're on markets the of terms And between financial 'XX. in. the gas at value we're for in

As gas to, several work the resources. is all approvals their feasibility partner, opportunities, reach with to most get X upstream of are FLNG an we are not of part needed. Once commercial of regulatory transaction, challenging on we doing commercial and owners which discussions of FLNG with technical the frankly together monetization then we commercial research alluded agreement, the need detailed the there other we in that's

So mooring to of fiscal that's geography, from formally have steps line we subject sight we terms, so commercially, will a when these, location to it, call regime, think earlier sign-off, commitment. is have firm significantly FID. than of for anything and confirmation that would environmental required we PSC do

market we're see our and that's the the on want sort working time where clear to on we actively or work. And to commercial what vessel clarity on of with in or the and regulators finalize now, that line balance So together recontracting. tension a are with interest now develop the the anxiety trying financial local favor, to competitive upstream working on together would the need see we partner terms and to for ship

Operator

We'll Instructions] move our on next [Operator question. to now

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

Craig Shere

congratulations shareholders, like the but intended capital all future the for of are refi Gimi operating clarification flow growth Gimi intended cash the outs on or refi. is cash on answer for like your asset question Ben's onetime the It to sales sounded investment. on So progress. return The to

of more you Fuji if is, you that something do how Or question redeployment helping beyond expect see Mark bridge would Gimi after So refi, for in a III to much are terms you Hilli already hand? And cash merely FID notably eyeing a needed be you on liquidity conversion? have period? my the

Eduardo Maranhao

Okay.

So of is, cash the subject deployment, We dividends can for see used beyond shareholders at flow we and potentially Mark which way returned that. be at it to the FID the FLNGs operating a through of further buybacks of can and the hand moment. combination be cash Hilli to timing think II

debt that billion. $X billion. be would $X construction be available it, Mark of required we think call to terms In period between, the the $X.X money billion in should anywhere that for plus/minus think II, plus/minus CapEx We

$XXX we call around, ]. So [ estimated it, million

be currently that think we dividend. we will then deal our And up allocated. flow, asset some. If that to for redeployment to how a is projects. some of cash liquidity an FLNG attractive Board FID, on we be Hilli retaining ample the then thinking operating when and sustainable is capital it have operating with cash But be of and the disposals, Given should the used flow should we're do growth also cash mainly, other

Craig Shere

recontract for Hilli, some guess, to you cash beginning the new out? at a Got you. of possibly locked-in well a and if you in cash I up attractive refi at you position Are kickers? more maybe the upside redeployment on once 'XX, in it's a to position higher flows dramatically some start a location in And are with of that do as

Karl Staubo

short yes. is answer The

million. X.X attractive And majority increase committed versus today, trigger contract So the We new capacity should the which you is the installed that so would earnings that earnings. typically anywhere between versus X.X drive million refinancing a volumes to would tonnes, combined current more higher contracts, of yes, and tonnes per just or million That annum the the capacity boost Hilli, utilized X.XX targeting of capacity improved fact million to utilization from new unit X under million discount contract X.X a earnings should really. both with also utilization. economics the in increased and around

Craig Shere

the do similar just that return go what refi about the can extra you've to maybe on the thoughts towards already and And shared to is is Or of capital? gravy Hilli with Gimi? what

Karl Staubo

in we the that attractiveness Well, opportunity even see the be point same projects. more X growth -- think units. right than the is of that to -- up we significantly if But I for growth then time it we FLNG very or way see because do significant we would that's should deploy still guess FLNG X outlook market the now, X, and

Operator

session. question-and-answer today's concludes This

hand back for to Karl the will closing call Staubo I So remarks.

Karl Staubo

the you you the Thanks on for was the to operational notable look forward next all Golar's both and and next in. Thank bye-bye. quarter. with a speak of for XXXth steps history, delivery cargo the and Gimi. dialing in in, to dialing milestone of quarter all Hilli importantly, QX We in the

Operator

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

now stand may please by. You disconnect. Speakers,

Golar LNG Limited (GLNG) 21 Nov 232023 Q3 Earnings call transcript