olivLaw · US equity research
Golar LNG Limited GLNG
Water Transportation · SIC 4400 · Vertical: Water Transportation (SIC 4400)
Golar LNG designs, converts, owns and operates marine infrastructure for natural gas liquefaction, as a leading FLNG-as-a-service provider, with Adjusted EBITDA of 264.6 million USD in fiscal 2025. The company is mid-transition, and its long-term contract portfolio could support growth if the projects are completed on schedule.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 05 Nov 2026, Golar LNG Limited (GLNG) stock was 42.57 USD (−5.15% on the day), with market capitalisation 4.3 bn USD, P/E 65.7 on diluted EPS of -1.99 USD over the last 12 months, dividend yield 0.00%, beta 0.82, 52-week range 35.33–57.36 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 32.4
- weak (30–45)
- Bollinger (20, 2)
- 42.93 – 48.26
- below the lower band · %B -0.07 · band width 11.7%
- SMA 50 / 200
- 48.59 / 49.55
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -1.13 / -1.10
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −14.9% | −1.1% | −13.8 pp | — |
| 3 months | −16.6% | −0.5% | −16.1 pp | — |
| 6 months | −22.6% | +4.4% | −27.0 pp | — |
| Year to date | +14.4% | +12.3% | +2.1 pp | — |
| 1 year | +7.4% | +13.5% | −6.1 pp | +21.5% |
| 3 years | +85.9% | +76.4% | +9.5 pp | +56.7% |
| 5 years | +213.5% | +63.7% | +149.8 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | ⚠ 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 430.6 m | 448.8 m | 261.4 m | 260.3 m | 267.7 m | 298.4 m | 260.4 m | 393.5 m |
| Revenue YoY | +200.0% | +4.2% | — | −0.4% | +2.9% | +11.5% | −12.8% | +51.1% |
| Net income | -231.4 m | -212.0 m | -273.6 m | 413.9 m | 787.8 m | -46.8 m | 50.8 m | 65.7 m |
| Net income YoY | unavailable | unavailable | — | unavailable | +90.4% | −105.9% | unavailable | +29.2% |
| Diluted EPS | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS YoY | unavailable | unavailable | — | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -53.7% | -47.2% | -104.7% | 159.0% | 294.2% | -15.7% | 19.5% | 16.7% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
The series breaks before 2020: earlier years come from the original reports of the issuer of that time, later years from a subsequent filing that restated the perimeter (a separation, discontinued operations). The year-on-year change across the break is not shown.
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 1.2 bn USD
- Financial debt
- 2.8 bn USD
- Net debt
- 1.6 bn USD
- Equity
- 2.1 bn USD
- Total assets
- 5.3 bn USD
- Debt / equity
- 1.33x
- Current ratio
- 2.55x
- ROE
- 3.0%
- ROA
- 1.4%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 261.4 m | 260.3 m | 267.7 m | 298.4 m | 260.4 m | 393.5 m | SEC (XBRL)· 26 Mar 2026verified |
| Research & development | 8.6 m | 2.5 m | 8.0 m | 39.1 m | 12.3 m | 19.2 m | SEC (XBRL)· 26 Mar 2026verified |
| Operating income | 61.1 m | 306.7 m | 524.1 m | 15.8 m | 62.2 m | 99.7 m | SEC (XBRL)· 26 Mar 2026verified |
| Depreciation & amortisation | 107.5 m | 54.9 m | 51.3 m | 49.8 m | 53.1 m | 48.3 m | SEC (XBRL)· 26 Mar 2026verified |
| EBITDA | 168.6 m ≈ | 361.6 m ≈ | 575.4 m ≈ | 65.6 m ≈ | 115.2 m ≈ | 148.1 m ≈ | SEC (XBRL)· 26 Mar 2026derived |
| Interest expense | 39.2 m | 34.5 m | 19.3 m | 0 | 0 | 32.9 m | SEC (XBRL)· 26 Mar 2026verified |
| Pre-tax income | -23.9 m | -64.4 m | 996.0 m | -1.3 m | 80.8 m | 116.9 m | SEC (XBRL)· 26 Mar 2026verified |
| Income tax | 579.0 k | 1.4 m | -438.0 k | 1.9 m | -18.0 k | 4.3 m | SEC (XBRL)· 26 Mar 2026verified |
| Net income | -273.6 m | 413.9 m | 787.8 m | -46.8 m | 50.8 m | 65.7 m | SEC (XBRL)· 26 Mar 2026verified |
| Weighted average diluted shares | 97.6 m | 109.6 m | 108.5 m | 106.6 m | 105.3 m | 109.5 m | SEC (XBRL)· 26 Mar 2026verified |
| Dividend per share | 0.00 | 0.00 | — | — | — | — | SEC (XBRL)· 28 Apr 2022verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 86.0 m | 231.8 m | 878.8 m | 679.2 m | 566.4 m | 1.2 bn | SEC (XBRL)· 26 Mar 2026verified |
| Inventories | 1.5 m | 536.0 k | 692.0 k | — | — | — | SEC (XBRL)· 31 Mar 2023verified |
| Current assets | 537.8 m | 925.6 m | 1.3 bn | 815.6 m | 739.9 m | 1.4 bn | SEC (XBRL)· 26 Mar 2026verified |
| Property, plant & equipment, net | 3.0 bn | 1.3 bn | 1.1 bn | 1.1 bn | 1.1 bn | 931.2 m | SEC (XBRL)· 26 Mar 2026verified |
| Intangibles (excl. goodwill) | — | — | — | 0 | 2.3 m | 2.1 m | SEC (XBRL)· 26 Mar 2026verified |
| Total assets | 4.3 bn | 4.9 bn | 4.3 bn | 4.1 bn | 4.4 bn | 5.3 bn | SEC (XBRL)· 26 Mar 2026verified |
| Accounts payable | 10.6 m | 4.9 m | 9.0 m | 7.5 m | 198.9 m | 123.6 m | SEC (XBRL)· 26 Mar 2026verified |
| Short-term debt | 982.8 m | 703.2 m | 344.8 m | 342.6 m | 521.3 m | 301.2 m | SEC (XBRL)· 26 Mar 2026verified |
| Long-term debt | 1.4 bn | 920.1 m | 844.5 m | 874.2 m | 931.0 m | 2.5 bn | SEC (XBRL)· 26 Mar 2026verified |
| Current liabilities | 1.2 bn | 1.3 bn | 414.4 m | 545.8 m | 841.5 m | 555.3 m | SEC (XBRL)· 26 Mar 2026verified |
| Total liabilities | 2.7 bn | 2.8 bn | 1.4 bn | 1.5 bn | 2.0 bn | 3.3 bn | SEC (XBRL)· 26 Mar 2026verified |
| Equity | 1.6 bn | 2.2 bn | 2.9 bn | 2.6 bn | 2.4 bn | 2.1 bn | SEC (XBRL)· 26 Mar 2026verified |
| Shares outstanding at year end | 109.9 m | 108.2 m | 107.2 m | 104.6 m | 104.5 m | 101.3 m | SEC (XBRL)· 26 Mar 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -176.5 m | — | — | — | — | — | SEC (XBRL)· 28 Apr 2022verified |
| Investing cash flow | -10.2 m | — | — | — | — | — | SEC (XBRL)· 28 Apr 2022verified |
| Financing cash flow | -162.3 m | -51.6 m | — | — | — | — | SEC (XBRL)· 28 Apr 2022verified |
| Share repurchases | 16.7 m | 24.5 m | — | — | — | — | SEC (XBRL)· 28 Apr 2022verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 32 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 4.3 bn USD
Key indicators
Coverage and freshness
Score by group
- Quality38
- Growth100
- Valuation6
- Balance sheet27
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 5.26 – 11.91 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/EBITDAunavailable · insufficient data
- Peers: P/E5.26 – 11.91 (Mid 8.90)13 companies used · median multiple 13.7x · quartiles 8.1x – 18.4xCCL, DLNG, FLNG, INSW, KEX, KNOP, MATX, NCLH, RCL, RUBI, TDW, TNK, VIK
- Dividend discount (DDM)unavailable · the base of the ratio is not positive
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 32/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 2.8% | 20 (vs peers) | 16% |
| Net margin · Quality | 16.7% | 68 (vs peers) | 9% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 13.7% | 100 (on a fixed band) | 13% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 10.9x | 0 (vs peers) | 16% |
| Interest coverage · Balance sheet | 3.0x | 24 (on a fixed band) | 9% |
| Current ratio · Balance sheet | 2.5x | 100 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 65.7x | 13 (vs peers) | 16% |
| EV/EBITDA · Valuation | 40.0x | 0 (vs peers) | 16% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet27/100 · 3/3 factors with a value
- Growth· partial100/100 · 1/2 factors with a value
- Quality38/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation6/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
GOLAR LNG LIMITED (GLNG). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 393.5 m USD in 2025; YoY growth 51.1%; net margin 16.7%; ROE 3.4%; net debt/EBITDA 10.9x.
The estimated value range is 5.26–11.91 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 8.90 USD, the price of 42.57 USD leaves a potential of -79.1% (value / price − 1) and a margin of safety of -378.2% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 32/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 13.7%
- Current ratio: 2.5x
What contradicts it
- ROIC: 2.8%
- Net debt / EBITDA: 10.9x
- Interest coverage: 3.0x
- P/E (TTM): 65.7x
- EV/EBITDA: 40.0x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Water Transportation (SIC 4400) · same industry (4-digit SIC) · compared with 21 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| RCLRoyal Caribbean Cruises Ltd | 89.1 bn | 19.7 | 41.7% | 23.8% | +8.8% | +25% / +210% |
| CCLCarnival Corp Ltd. | 42.1 bn | 13.7 | 24.0% | 11.4% | +6.4% | +21% / +108% |
| BIPBrookfield Infrastructure Partners L.P. | 11.2 bn | 42.0 | 7.7% | 11.0% | +9.8% | +5% / +44% |
| NCLHNorwegian Cruise Line Holdings Ltd. | 8.2 bn | 9.8 | 31.2% | 8.2% | +3.7% | −4% / +16% |
| MATXMatson, Inc. | 6.4 bn | 14.3 | 17.2% | 13.4% | −2.3% | +96% / +123% |
| KEXKirby Corporation | 6.3 bn | 18.4 | 10.4% | 10.2% | +3.0% | +5% / +56% |
| INSWInternational Seaways, Inc. | 4.7 bn | 6.0 | 37.4% | 62.0% | −11.4% | +78% / +107% |
| GLNGGolar Lng Limited | 4.3 bn | 65.7 | 3.4% | 16.7% | +51.1% | +7% / +86% |
| TDWTidewater Inc | 3.4 bn | 14.0 | 19.5% | 18.3% | +0.5% | +28% / +15% |
| SEAL-PASeapeak LLC | 2.0 bn | 76.8 | — | 4.1% | −10.4% | −2% / −2% |
| FLNGFLEX LNG Ltd. | 1.4 bn | 18.8 | 9.8% | 21.5% | −2.4% | +2% / −11% |
| NATNORDIC AMERICAN TANKERS Ltd | 1.4 bn | 108.8 | 2.6% | 4.2% | −16.6% | +79% / +68% |
| GLOP-PAGasLog Partners LP | 1.2 bn | — | -1.7% | -7.2% | −21.9% | −2% / +5% |
| CMDBCostamare Bulkers Holdings Limited | 430.2 m | — | -11.2% | -6.3% | unavailable | +8% / unavailable |
| KNOPKNOT Offshore Partners LP | 288.4 m | 12.4 | — | 6.4% | +14.4% | −15% / +58% |
| EDRYEurodry Ltd. | 102.6 m | — | -4.0% | — | +8.9% | +173% / +79% |
| OMEXOdyssey Marine Exploration, Inc. | 26.0 m | — | — | -13,366.3% | −54.0% | +437% / +200% |
| USEAUnited Maritime Corp | 22.2 m | — | -11.0% | -16.4% | −16.8% | +40% / −4% |
| RUBIRubico Inc. | 682.3 k | 0.0 | 6.6% | 11.2% | −2.8% | −100% / unavailable |
| DLNGDynagas Lng Partners LP | — | 2.2 | 12.9% | — | −100.0% | −16% / +16% |
| VIKViking Holdings Ltd | — | 33.5 | 263.5% | 17.7% | +21.9% | +29% / unavailable |
| TNKTeekay Tankers Ltd. | — | 8.1 | 18.5% | 36.9% | −22.6% | +42% / +65% |
1- and 3-year price returns: for GLNG from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 27.49 Total return -35% · Per year -35% | 48.40 Total return 14% · Per year 14% | 72.64 Total return 71% · Per year 71% |
| 3 years | 31.84 Total return -25% · Per year -9% | 62.57 Total return 47% · Per year 14% | 102.34 Total return 140% · Per year 34% |
| 5 years | 36.88 Total return -13% · Per year -3% | 80.88 Total return 90% · Per year 14% | 144.19 Total return 239% · Per year 28% |
- Exit P/E± 15.64
- Net margin± 10.95
- Annual revenue growth± 8.26
- Annual dilution± 0.92
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 26 Mar 2026; since then the company filed 6-K (23 Oct 2026), 6-K (19 Oct 2026), 6-K (07 Oct 2026), 6-K (24 Sept 2026), 6-K (21 Sept 2026), 6-K (19 Aug 2026).
In brief
Golar LNG designs, converts, owns and operates marine infrastructure for natural gas liquefaction, as a leading FLNG-as-a-service provider, with Adjusted EBITDA of 264.6 million USD in fiscal 2025 1. The company is mid-transition, and its long-term contract portfolio could support growth if the projects are completed on schedule 1.
SWOT
Strengths
- The company is the only provider with a proven track record of FLNG as a service, giving it a distinctive market position 1.
- Long-term contracts paid in US dollars and governed by English law provide revenue visibility 1.
- The Adjusted EBITDA backlog is substantial, with contracts running for many years 1.
Weaknesses
- Revenues depend on a limited number of customers, and losing one could seriously affect results 1.
- The company relies on a limited number of contractors and shipyards with FLNG conversion experience 1.
- Debt is significant and much of it is secured against the FLNG units, limiting financial flexibility 1.
Opportunities
Risks
- MKII FLNG conversion executionhigh
The project is the first of its kind and depends on a single shipyard, so delays or cost overruns could affect revenues and the value of the asset under development 1.
- FLNG Hilli transitionhigh
The LTA expiry in July 2026 and redeployment to Argentina involve export, refurbishment and local compliance risks 1.
- Customer concentrationmedium
A small number of customers generate revenue, and losing one could have significant effects on cash flows 1.
- Access to financing and covenantsmedium
The company may need new financing, and breaching covenants could trigger early repayments 1.
- Currency and interest rate exposurelow
Currency movements and SOFR volatility can affect results, and hedging instruments can generate losses 1.
Investment thesis
What would need to be true (bull case)
- Its position as the only proven FLNG-as-a-service provider, combined with contracted backlog, could support growth if projects are delivered on time 1.
- If MKII enters service and the SESA contract for FLNG Hilli proceeds as planned, revenues could become more stable and predictable 1.
- The strategic review could result in a valuation of the FLNG platform that benefits shareholders, though no outcome is assured 1.
What would break the thesis
- Reliance on a few contracts and a small customer base means any delay or non-payment could have outsized effects 1.
- Shipyard execution risks and rising costs could reduce the profitability of projects under way 1.
- Asset-backed debt and financial covenants could limit flexibility and the ability to fund new projects 1.
What to watch
- Progress of the MKII FLNG conversion at CIMC against budget and schedule2027
- Redeployment of FLNG Hilli after LTA expiry and start of the SESA contract2027
- Outcome of the strategic alternatives reviewnext 10-K
- FLNG Gimi revenue trends and compliance with the LOA obligationsQ1 2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 26 Mar 2026; since then the company filed 6-K (23 Oct 2026), 6-K (19 Oct 2026), 6-K (07 Oct 2026), 6-K (24 Sept 2026), 6-K (21 Sept 2026), 6-K (19 Aug 2026).
The business
Golar LNG now operates exclusively in FLNG after exiting LNG shipping, completing the sale of its last carrier, Golar Arctic, for 24.8 million USD in March 2025 1. Its model converts existing LNG carriers into floating liquefaction units offered to customers as a service, so gas resource owners can monetize reserves without upfront capital outlay 1. The company says its capex per ton of liquefaction capacity can be up to approximately 40% lower than land-based developments 1. Contracts are governed by English law, paid in US dollars, and operating costs are either covered by Golar or reimbursed by the customer 1.
The current fleet comprises FLNG Hilli, operating offshore Cameroon under an LTA expiring in July 2026, and FLNG Gimi, which reached COD in June 2025 and operates under a 20-year LOA with bp in the GTA Project 1. A third unit, Fuji LNG, is being converted into the MKII FLNG at CIMC, with delivery expected at the end of 2027 1. In March 2026 Golar initiated a formal review of strategic alternatives, with Goldman Sachs International as financial advisor, though there is no assurance of any outcome 1.
Revenues depend on a limited number of customers under long-term contracts, so performance rests on a few contractual relationships and on the execution of conversion projects 1. The company notes that the temporary revenue gap during FLNG Hilli's transition could narrow once the SESA contract starts in 2027 and MKII operations begin in 2028 1.
Segments
FLNG as a service
This is the main segment, where Golar provides liquefaction under fixed tariffs plus components linked to commodity prices; FLNG Hilli and FLNG Gimi are the units in operation, with nameplate capacities of about 2.45 and 2.7 mtpa respectively 1.
Conversions and projects in development
This covers the MKII FLNG, whose conversion at CIMC has an estimated budget of about 2.2 billion USD excluding financing costs, and a 20-year SESA contract with a fixed tariff of 400 million USD per year 1. This activity exposes the company to shipyard execution risk, as only a limited number of contractors are available 1.
Corporate and other
After the exit from shipping, legacy shipping activities were folded into Corporate and other, and the company also sold holdings such as Avenir LNG for 39.1 million USD in January 2025 1.
Market context
The company states that demand for additional FLNG capacity is rising and supports a commercial pipeline of units from roughly 2 to 5 mtpa, although FLNG projects involve long timelines and regulatory approvals 1. In the LNG sector, attention shifted in early 2026 from the US supply wave to energy diversification and security amid the war in the Middle East 1. Golar stresses that, although it is the only proven FLNG-as-a-service provider, the industry is early-stage and faces no significant competition for now 1.
If the number of FLNG units grows, as management expects, competition could increase as well, which could influence commercial terms for new contracts 1.
Trends
- Rising gas demand amid energy security concernstailwind
Tensions in the Middle East have shifted focus to diversification, which could support demand for gas monetization solutions including FLNG 1.
- The US LNG capacity wavemixed
Anticipated growth in liquefaction capacity, especially in the United States, could pressure LNG prices and the attractiveness of new projects 1.
- Tariffs linked to commodity pricesmixed
Variable contract components linked to Brent and TTF prices could raise revenues when prices are high, but also introduce variability 1.
- Supply chain risk at shipyardsheadwind
Conversion projects are affected by rising costs and supply chain constraints, which could delay projects or inflate budgets 1.
Competitive position
Golar says it does not currently face significant competition in FLNG as a service and is the only provider with a proven track record 1. It nevertheless expects more participants to enter the industry over time, which could intensify competition 1.
Indirect competition comes from land-based LNG projects, which FLNG can outperform on capital cost and on its ability to monetize small or geographically isolated reserves 1.
- Land-based liquefaction projects
Indirect competition comes from onshore LNG facilities, which are compared with FLNG on capital cost and flexibility 1.
- Other FLNG developers
The company expects other participants to enter the FLNG industry, which could increase competitive pressure 1.
- Specialized shipyards
Only a limited number of shipyards have the experience needed for FLNG conversions, making them both partners and a source of risk 1.
- US LNG operators
The US supply wave is a market factor influencing demand and prices for other liquefaction solutions 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Here Are Monday’s Top Wall Street Analyst Research Calls: AstraZeneca, Celestica, Chipotle Mexican Grill, Domino’s Pizza, Fortune Brands, Golar LNG, Jersey Mike’s Subs, Roku, and MoreYahoo Finance — News · 24 Aug 2026 · EN
The latest news item in our archive is from 24 Aug 2026; the newest SEC filing is from 23 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report (foreign issuer)23 Oct 2026
- Current report (foreign issuer)19 Oct 2026
- Current report (foreign issuer)07 Oct 2026
- Current report (foreign issuer)24 Sept 2026
- Current report (foreign issuer)21 Sept 2026
- Current report (foreign issuer)19 Aug 2026
- Current report (foreign issuer)13 Aug 2026
- Current report (foreign issuer)13 Aug 2026
- Current report (foreign issuer)13 Aug 2026
- Current report (foreign issuer)03 Aug 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / Golar LNG Limited · 26 Mar 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.