Golar LNG Limited (GLNG) SEC Filings & Earnings Calls

Execution risk on FLNG conversion and redelivery timeline.

“FLNG #4 will be converted alongside FLNG Esperanza at CIMC Raffles’ Yantai shipyard in China. With redelivery scheduled for 2029.” · word for word

High coupon rate of 7.5% increases interest expense; unsecured notes add to leverage.

“Notes will bear interest at a rate of 7.5% per year” · word for word

Debt issuance may increase leverage and interest expense.

“Potential senior unsecured notes offering; no terms disclosed.”

Unrealized loss on oil and gas derivatives of $4.6M indicates commodity price exposure.

“Unrealized loss on oil and gas derivative instruments (note 7) │ 4,625 │ 59,817” · word for word

Interest expense net of $46.5M reflects debt financing costs.

“Interest expense, net (3) │ 46,549 │ —” · word for word

Execution risk on new FLNG construction and pipeline project.

“FLNG Esperanza construction on time and on budget; San Matías Pipeline EPC contract awarded.” · word for word

Project execution risk; construction timeline to 2029; potential delays.

“Expected delivery from shipyard by year end 2029.”

Charter contract risk; no long-term contract signed yet.

“Targets long-term charter contract; advanced commercial discussions in progress.”

Facility secured by FLNG asset; project execution risk.

“RCF is secured by Golar’s investment in the MKII FLNG currently being converted in China.” · word for word

Geopolitical risks in Middle East and Ukraine/Russia could impact operations and demand.

“Geopolitical events continuing in Ukraine and Russia combined with significant escalation in the Middle East has again driven commodity prices higher and put pressure on the global energy markets.” · word for word

Execution risk on MKII FLNG conversion and 4th FLNG order.

“MKII construction on time and on budget. Target to order 4th FLNG within 2026.” · word for word

Commodity price downside risk

“Golar has also agreed to a mechanism where the charter hire can be partially reduced for FOB prices below a reference price of $7.5/mmbtu down to a floor of $6/mmbtu.” · word for word

Project execution risk

“The MKII FLNG is currently undergoing conversion at CIMC and is expected to deliver from the Shipyard at the end of 2027.” · word for word

No material risk; routine AGM announcement.

“No financial or operational disclosures.”

No material risk; routine filing notification.

“No financial or operational disclosures.”

Commodity exposure via oil and gas derivative instruments could introduce volatility.

“Unrealized loss on oil and gas derivative instruments of $20.6M in Q4 2025.” · word for word

High debt levels with $2.7B share of contractual debt; refinancing risk.

“Golar's share of contractual debt $2,728,923 (Q4 2025) vs $1,515,357 (Q4 2024), up 80%.”

Refinancing reduces near-term liquidity risk but increases leverage; interest rate exposure via SOFR+2.50% margin.

“New debt facility has a 7-year tenor, 16-year amortization profile and will incur interest at SOFR plus a margin of 2.50% p.a.” · word for word

Commodity price exposure in FLNG contracts

“Commodity linked tariff component adds upside/downside based on FOB prices above $8/MMBtu.”

Execution risk on MKII FLNG conversion

“Conversion budget $2.2B, $1.0B spent; on schedule but large project.”