Final Investment Decision for 20-year charter of MK II FLNG to Southern Energy in Argentina
Golar LNG (NASDAQ:GLNG) has announced that Southern Energy S.A. (SESA) has reached Final Investment Decision (FID) for a 20-year charter of Golar's 3.5MTPA MK II FLNG vessel. The agreement includes $400 million annual net charter hire plus a 25% commodity-linked tariff for FOB prices above $8/mmbtu.
The FLNG vessel, currently under conversion in China, will be deployed in Argentina's San Mat铆as Gulf by 2028, operating alongside FLNG Hilli. Together, both units will have a combined capacity of 5.95MTPA. SESA's ownership structure includes Pan American Energy (30%), YPF (25%), Pampa Energia (20%), Harbour Energy (15%), and Golar (10%).
The project is expected to generate $8 billion in net earnings over 20 years for Golar, with additional upside potential through the commodity tariff component and SESA shareholding.
Golar LNG (NASDAQ:GLNG) ha annunciato che Southern Energy S.A. (SESA) ha raggiunto la Decisione Finale di Investimento (FID) per un noleggio a lungo termine di 20 anni della nave FLNG MK II da 3,5 MTPA di Golar. L'accordo prevede un canone netto annuo di noleggio di 400 milioni di dollari pi霉 una tariffa collegata alla commodity pari al 25% per prezzi FOB superiori a 8 $/mmbtu.
La nave FLNG, attualmente in fase di conversione in Cina, sar脿 impiegata nel Golfo di San Mat铆as in Argentina entro il 2028, operando insieme alla FLNG Hilli. Insieme, entrambe le unit脿 avranno una capacit脿 combinata di 5,95 MTPA. La struttura proprietaria di SESA comprende Pan American Energy (30%), YPF (25%), Pampa Energia (20%), Harbour Energy (15%) e Golar (10%).
Il progetto dovrebbe generare per Golar 8 miliardi di dollari di utili netti in 20 anni, con un potenziale di guadagno aggiuntivo attraverso la componente tariffaria legata alla commodity e la partecipazione azionaria in SESA.
Golar LNG (NASDAQ:GLNG) ha anunciado que Southern Energy S.A. (SESA) ha tomado la Decisi贸n Final de Inversi贸n (FID) para un contrato de fletamento por 20 a帽os del buque FLNG MK II de 3,5 MTPA de Golar. El acuerdo incluye un flete neto anual de 400 millones de d贸lares m谩s una tarifa vinculada a la materia prima del 25% para precios FOB superiores a 8 $/mmbtu.
El buque FLNG, actualmente en proceso de conversi贸n en China, ser谩 desplegado en el Golfo de San Mat铆as en Argentina para 2028, operando junto con el FLNG Hilli. Juntos, ambos buques tendr谩n una capacidad combinada de 5,95 MTPA. La estructura accionaria de SESA incluye Pan American Energy (30%), YPF (25%), Pampa Energia (20%), Harbour Energy (15%) y Golar (10%).
Se espera que el proyecto genere para Golar 8 mil millones de d贸lares en ganancias netas durante 20 a帽os, con un potencial adicional de ganancias a trav茅s de la componente tarifaria vinculada a la materia prima y la participaci贸n accionaria en SESA.
瓿澕 LNG (NASDAQ:GLNG)電� Southern Energy S.A. (SESA)臧� 瓿澕鞚� 3.5MTPA MK II FLNG 靹犽皶鞐� 雽�頃� 20雲� 鞛勲寑 瓿勳暯鞐� 雽�頃� 斓滌 韴瀽 瓴办爼鞚� 雮措牳雼り碃 氚滍憸頄堨姷雼堧嫟. 鞚� 瓿勳暯鞐愲姅 鞐瓣皠 4鞏� 雼煬 靾� 鞛勲寑耄�鞕� FOB 臧�瓴╈澊 8$/mmbtu毳� 齑堦臣頃� 瓴届毎 25%鞚� 鞗愳瀽鞛� 鞐半彊 鞖旉笀鞚� 韽暔霅橃柎 鞛堨姷雼堧嫟.
順勳灛 欷戧淡鞐愳劀 臧滌“ 欷戩澑 FLNG 靹犽皶鞚� 2028雲勱箤歆� 鞎勲ゴ項嫲雮� 靷� 毵堩嫲鞎勳姢 毵岇棎 氚办箻霅橃柎 FLNG 頌愲Μ鞕� 頃粯 鞖挫榿霅� 鞓堨爼鞛呺媹雼�. 霊� 靹犽皶鞚� 齑� 鞖╇焿鞚� 5.95MTPA鞛呺媹雼�. SESA鞚� 靻岇湢 甑“電� Pan American Energy (30%), YPF (25%), Pampa Energia (20%), Harbour Energy (15%), Golar (10%)搿� 甑劚霅橃柎 鞛堨姷雼堧嫟.
鞚� 頂勲鞝濏姼電� 瓿澕鞐� 20雲� 霃欖晥 80鞏� 雼煬鞚� 靾滌澊鞚�鞚� 彀届稖頃� 瓴冹溂搿� 鞓堨儊霅橂┌, 鞗愳瀽鞛� 鞖旉笀 攵�氍戈臣 SESA 歆�攵勳潉 韱淀暅 於旉皜 靾橃澋 臧�電レ劚霃� 鞛堨姷雼堧嫟.
Golar LNG (NASDAQ:GLNG) a annonc茅 que Southern Energy S.A. (SESA) a pris la D茅cision Finale d'Investissement (FID) pour un contrat d'affr猫tement de 20 ans du navire FLNG MK II de 3,5 MTPA de Golar. L'accord inclut un loyer net annuel de 400 millions de dollars ainsi qu'un tarif index茅 sur la mati猫re premi猫re de 25 % pour les prix FOB sup茅rieurs 脿 8 $/mmbtu.
Le navire FLNG, actuellement en cours de conversion en Chine, sera d茅ploy茅 dans le golfe de San Mat铆as en Argentine d'ici 2028, op茅rant aux c么t茅s du FLNG Hilli. Ensemble, les deux unit茅s auront une capacit茅 combin茅e de 5,95 MTPA. La structure de propri茅t茅 de SESA comprend Pan American Energy (30 %), YPF (25 %), Pampa Energia (20 %), Harbour Energy (15 %) et Golar (10 %).
Le projet devrait g茅n茅rer pour Golar 8 milliards de dollars de b茅n茅fices nets sur 20 ans, avec un potentiel de gains suppl茅mentaires via la composante tarifaire li茅e 脿 la mati猫re premi猫re et la participation dans SESA.
Golar LNG (NASDAQ:GLNG) hat bekannt gegeben, dass Southern Energy S.A. (SESA) die endg眉ltige Investitionsentscheidung (FID) f眉r einen 20-j盲hrigen Chartervertrag des 3,5 MTPA MK II FLNG-Schiffs von Golar getroffen hat. Die Vereinbarung umfasst j盲hrliche Netto-Charterzahlungen von 400 Millionen US-Dollar sowie eine 25%ige, an die Rohstoffpreise gekoppelte Geb眉hr f眉r FOB-Preise 眉ber 8 $/mmbtu.
Das FLNG-Schiff, das derzeit in China umgebaut wird, soll bis 2028 im Golf von San Mat铆as in Argentinien eingesetzt werden und dort zusammen mit dem FLNG Hilli betrieben werden. Beide Einheiten haben zusammen eine Gesamtkapazit盲t von 5,95 MTPA. Die Eigent眉merstruktur von SESA umfasst Pan American Energy (30%), YPF (25%), Pampa Energia (20%), Harbour Energy (15%) und Golar (10%).
Das Projekt wird voraussichtlich 8 Milliarden US-Dollar Nettogewinn f眉r Golar 眉ber 20 Jahre generieren, mit zus盲tzlichem Aufw盲rtspotenzial durch die Rohstoffgeb眉hr und die Beteiligung an SESA.
- Secured $400 million annual net charter hire for 20 years, totaling $8 billion in earnings visibility
- Additional revenue potential through 25% commodity-linked tariff for prices above $8/mmbtu
- Strategic 10% ownership stake in SESA consortium
- Operational synergies expected from two FLNGs in the same area
- Strengthens Golar's position as market-leading FLNG service provider
- Project completion and revenue generation delayed until 2028
- FID remains subject to regulatory conditions and other closing requirements
- Significant capital investment required for FLNG conversion in China
Insights
Golar secures massive $8 billion earnings visibility with 20-year FLNG charter in Argentina, significantly strengthening long-term financial outlook.
This Final Investment Decision (FID) represents a transformative development for Golar LNG's financial stability and growth trajectory. The 20-year charter agreement with Southern Energy S.A. (SESA) for the 3.5MTPA MK II FLNG vessel establishes $400 million in annual net charter hire, supplemented by a commodity-linked tariff component of 25% of FOB prices exceeding $8/mmbtu. This structure provides Golar with both reliable base income and meaningful upside exposure to LNG price movements.
The combined impact of this contract alongside the previously announced FLNG Hilli deployment creates a substantial operational hub in Argentina's San Mat铆as Gulf with 5.95MTPA total capacity. This dual-FLNG strategy enables significant operational synergies and positions Golar as the dominant FLNG service provider in the emerging Argentinian LNG export market.
Most critically for investors, this agreement solidifies $8 billion in earnings visibility over two decades - a remarkable achievement that dramatically reduces cash flow uncertainty. Golar's strategic 10% ownership stake in SESA further enhances potential returns through equity participation in the broader project success.
This contract reinforces Argentina's emergence as a significant LNG exporter while cementing Golar's technological leadership in the FLNG sector. The partnership with major energy players (Pan American Energy, YPF, Pampa Energia, and Harbour Energy) provides robust counterparty strength despite pending regulatory approvals. The expected 2028 contract start aligns with projected growth in global LNG demand, particularly from Asian markets seeking supply diversification.
Golar LNG Limited (鈥淕olar鈥�) is pleased to announce today that Southern Energy S.A. (鈥淪ESA鈥�) has reached Final Investment Decision for the charter of Golar鈥檚 3.5MTPA MK II FLNG, as contemplated under the terms of the definitive agreements executed by SESA and Golar in May 2025.聽
The key commercial terms for the 20-year charter agreement include net charter hire to Golar of US
SESA is a company formed to enable LNG exports from Argentina. SESA is owned by a consortium of leading Argentinian gas producers including Pan American Energy (
The MKII FLNG project remains subject to regulatory conditions precedent and satisfaction of other customary closing conditions which are progressing according to schedule and expected within 2025.
Golar鈥檚 Chief Executive Officer, Karl Fredrik Staubo, commented: 鈥淭oday鈥檚 FID marks another milestone for SESA in establishing Argentina as an attractive LNG exporter and building on Golar鈥檚 position as the market leading FLNG service provider. FID solidifies
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflect management鈥檚 current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as 鈥渕ay,鈥� 鈥渃ould,鈥� 鈥渟hould,鈥� 鈥渨ould,鈥� 鈥渆xpect,鈥� 鈥減lan,鈥� 鈥渁nticipate,鈥� 鈥渋ntend,鈥� 鈥渇orecast,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥減redict,鈥� 鈥減ropose,鈥� 鈥減otential,鈥� 鈥渃ontinue,鈥� 鈥渟ubject to鈥� or the negative of these terms and similar expressions are intended to identify such forward-looking statements.
These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Golar LNG Limited undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable law.
Hamilton, Bermuda
August 6, 2025
Investor Questions: +44 207 063 7900
Karl Fredrik Staubo - CEO
Eduardo Maranh茫o - CFO
Stuart Buchanan - Head of Investor Relations
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
FAQ
What is the value of Golar LNG's new FLNG charter agreement with SESA?
When will Golar LNG's MK II FLNG vessel begin operations in Argentina?
Who are the owners of Southern Energy S.A. (SESA)?
What is the combined LNG production capacity of Golar's FLNGs in Argentina?
How does the commodity-linked tariff work in GLNG's FLNG charter agreement?
