Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| That's part of the reason why we're able to achieve the cap expert on that we are and the operational efficiencies that we have achieved |
| Hilli continued their operational excellence, having now delivered 108 cargos since start-up of operation in 2018 and more than 7 million tons of LNG to-date |
| We see strong development for FLNG projects, including redeployment projects for Hilli and new projects for Mark II FLNGs |
| Golar pioneered the FLNG concept with the construction and delivery of Hilli, and I've also demonstrated the lowest CapEx per ton and market-leading operational track record |
| We see upside to the dividend once the Gimi starts her contract |
| We think it's very beneficial because basically when you saw the spike in LNG prices that you had following the Russia-Ukraine situation, in particular the North stream pipeline accident or incident, you saw gas prices go to a level where there was a very strong incentive for end users to substitute away from LNG and natural gas |
| We see strong interest from prospective clients that look to monetize flare gas, both for economic and environmental benefits that this technology enables |
| On FLNG business development, we see strong progress made, both for redeployment of Hilli and the potential Mark II employment |
| So a more stable price environment we think is extremely helpful to end-user demand, which should be very good for industry |
| The vessel continues its market-leading operational uptime since delivery and we continue to be highly pleased with both the unit, the technology and the operating teams that support the daily operations |
| Positively impacted by Hilli’s performance, which exceeded her contracted 2023 production volume, resulting in a release of the remaining 2022 underutilization balance of $29 million |
| The attractive break-even cost of these projects also ensure a robust business model if gas prices continue to be volatile |
| Golar’s position as the only service provider of maritime liquefaction enables us to offer these resource owners a unique value proposition |
| We're excited about the development and progress on all these aspects of the potential projects in discussions |
| We're pleased that we are aligning around commercial terms with gas resource owners and the attractiveness of these potential gas developments with sufficient resources to support 12 to 20-year charters |
| Hilli produced our highest production since startup during 2023 |
| We are highly confident about both parties' ability to meet the timelines put forward in the framework agreement |
| Turning to slide 13, then an update on Macaw, another aspect of our portfolio where we see very positive development |
| Turning to slide 12, we have seen strong development of new FLNG projects during the quarter |
| We remain with a strong liquidity position of around $800 million |
| But shareholder returns is extremely high on the agenda now and going forward |
| We're currently in discussions for chopped opportunities ranging from 12 to 20 year duration and we are pleased that we are aligning commercial terms with gas resource owners |
| We can use the expertise that we've built up over FLNGs to capture what we think is a massive market opportunity, both economically, environmentally and politically, to capture flare gas |
| We think it's in the industry's interest that you see long-term, plentiful supply of LNG and further increasing supply sources |
| We remain committed to attractive growth and return to shareholders |
| Brent linked fees were up to $20 million from $13 million last quarter and TTF linked fees of $31 million up from $28 million in Q3 |
| Adjusted EBITDA came in at $114 million, up 52% from the previous quarter |
| In total, the unit produced 1.46 mtpa during ‘23, inclusive of the 2022 underproduction, and also exceeding the contractual volume by approximately $300,000 |
| We see it as far more beneficial and safe for operations to separate the two if there is significant gas treatment required |
| We're particularly excited about the outlook for Macaw and we'll share more color on development on that later in the presentation |
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| We had a net loss of $31 million in Q4 |
| Where there's more uncertainty is how that aligns with the governmental bodies and sign-off |
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