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Golar LNG Reports Higher Q1 FLNG Production as Argentina Projects Advance

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Golar LNG (GLNG) reported Q1 earnings on Wednesday, highlighting stronger Q1 operational performance from its floating liquefied natural gas fleet.

FLNG Gimi produced above its contracted 2.4 million tons per annum capacity during Q1, lifting invoiced day rates 19% above contractual levels, while FLNG Hilli maintained 100% economic uptime through the quarter, the company said.

FLNG Gimi completed 10 cargo offloads in the quarter, compared with four cargoes from FLNG Hilli.

Golar LNG is upgrading FLNG Hilli ahead of its redeployment from Cameroon to Argentina, with operations expected to begin in the second half of 2027.

The company continued construction work on its MKII FLNG project in Argentina, where conversion exceeded 60% completion after more than 10 million manhours without lost-time incidents, according to Golar LNG.

Golar LNG expects MKII FLNG to start operations in Argentina in the second half of 2028 with 3.5 million tons per annum capacity, while the project remains on track for delivery during Q4 2027, the company added.

Golar LNG also narrowed the concept selection for a fourth FLNG unit and aims to place an order within 2026 as commercial discussions accelerate across Africa, the Middle East and South America, the company said.

Price: $56.30, Change: $+0.65, Percent Change: +1.17%

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