Golar LNG turns natural gas into LNG on floating plants and leases them out on 20 year contracts. Its fourth unit is ordered for the end of 2029 and has no customer yet. This site puts live prices, satellite data and a global project database in one place to help answer where it should go.
A few words used throughout. LNG is natural gas cooled to a liquid so it can be shipped. FLNG is a floating plant that does the cooling at sea. MTPA is million tonnes of LNG a year; Golar's newest design makes 3.5. MMscf/d is million cubic feet of gas a day; a 3.5 MTPA plant needs about 500.
01 · Market
What today's prices mean for Golar
Golar is paid a fixed fee for each unit. On its two Argentine units it also keeps 25% of the LNG price above $8/MMBtu. When European gas is expensive, that share is worth a lot.
Golar's price upside at today's prices
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Six months of prices
TTF (Europe)Henry Hub (US)$8 threshold
Hilli starts in Argentina in 2027 and Esperanza in 2028, so this is a run rate, not current earnings. FOB, the price when the LNG is loaded, is estimated here as TTF less shipping to Europe. Management puts the combined effect at about $100M a year for every $1 above $8.
The argument Golar makes to a customer: you keep your gas and most of the revenue, Golar builds and runs the plant for a yearly fee. Pick a field or a flaring lead from the map, and see who earns what at today's prices.
Fee and price share follow the terms of Golar's Esperanza contract, scaled by capacity. 1 MTPA is about 52 million MMBtu a year. Feed gas cost includes 10% burned as fuel. IRR is unlevered over a 20 year charter with $2.45bn of capex per 3.5 MTPA and assumes today's price holds for all 20 years, so treat it as a ceiling when prices are high.
Every number on this site comes from a public source. Live data is fetched when you open a page; the large datasets are downloaded and reduced once and stored with the site.
Data
Source
Updated
Gas and oil prices: TTF, Henry Hub, Brent, EUR/USD
Positions of Golar's units and other floating plants are approximate. Scores and recommendations in the case are my own judgement. The code is open on GitHub. Not affiliated with Golar LNG.