June 30, 2024000120717912/312024Q2falsehttp://fasb.org/us-gaap/2024#OtherLiabilitiesCurrenthttp://fasb.org/us-gaap/2024#OtherLiabilitiesCurrenthttp://fasb.org/us-gaap/2024#OtherLiabilitiesCurrentiso4217:USDiso4217:USDxbrli:sharesglng:vesselglng:segmentglng:operational_flngglng:undergoing_conversioniso4217:USDglng:barrelutr:ft3utr:txbrli:sharesglng:class_of_unitxbrli:pureglng:guaranteeiso4217:EURiso4217:NOKxbrli:sharesiso4217:BRLglng:liquefiedNaturalGasTonutr:MMBTUiso4217:USDutr:MMBTU00012071792024-01-012024-06-300001207179glng:LiquefactionServicesMember2024-01-012024-06-300001207179glng:LiquefactionServicesMember2023-01-012023-06-300001207179glng:VesselManagementFeesAndOtherRevenuesMember2024-01-012024-06-300001207179glng:VesselManagementFeesAndOtherRevenuesMember2023-01-012023-06-300001207179glng:TimeandVoyageCharterMember2024-01-012024-06-300001207179glng:TimeandVoyageCharterMember2023-01-012023-06-3000012071792023-01-012023-06-3000012071792024-06-3000012071792023-12-310001207179us-gaap:SegmentDiscontinuedOperationsMember2024-01-012024-06-300001207179us-gaap:SegmentDiscontinuedOperationsMember2023-01-012023-06-300001207179us-gaap:SegmentContinuingOperationsMember2024-01-012024-06-300001207179us-gaap:SegmentContinuingOperationsMember2023-01-012023-06-300001207179us-gaap:InterestRateSwapMemberus-gaap:SegmentContinuingOperationsMember2024-01-012024-06-300001207179us-gaap:InterestRateSwapMemberus-gaap:SegmentContinuingOperationsMember2023-01-012023-06-300001207179us-gaap:EnergyRelatedDerivativeMemberus-gaap:SegmentContinuingOperationsMember2024-01-012024-06-300001207179us-gaap:EnergyRelatedDerivativeMemberus-gaap:SegmentContinuingOperationsMember2023-01-012023-06-3000012071792022-12-3100012071792023-06-300001207179us-gaap:CommonStockMember2022-12-310001207179us-gaap:AdditionalPaidInCapitalMember2022-12-310001207179glng:ContributedSurplusMember2022-12-310001207179us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310001207179us-gaap:RetainedEarningsMember2022-12-310001207179us-gaap:ParentMember2022-12-310001207179us-gaap:NoncontrollingInterestMember2022-12-310001207179us-gaap:RetainedEarningsMember2023-01-012023-06-300001207179us-gaap:ParentMember2023-01-012023-06-300001207179us-gaap:NoncontrollingInterestMember2023-01-012023-06-300001207179us-gaap:AdditionalPaidInCapitalMember2023-01-012023-06-300001207179us-gaap:CommonStockMember2023-01-012023-06-300001207179us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-06-300001207179us-gaap:CommonStockMember2023-06-300001207179us-gaap:AdditionalPaidInCapitalMember2023-06-300001207179glng:ContributedSurplusMember2023-06-300001207179us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-300001207179us-gaap:RetainedEarningsMember2023-06-300001207179us-gaap:ParentMember2023-06-300001207179us-gaap:NoncontrollingInterestMember2023-06-300001207179us-gaap:CommonStockMember2023-12-310001207179us-gaap:AdditionalPaidInCapitalMember2023-12-310001207179glng:ContributedSurplusMember2023-12-310001207179us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310001207179us-gaap:RetainedEarningsMember2023-12-310001207179us-gaap:ParentMember2023-12-310001207179us-gaap:NoncontrollingInterestMember2023-12-310001207179us-gaap:RetainedEarningsMember2024-01-012024-06-300001207179us-gaap:ParentMember2024-01-012024-06-300001207179us-gaap:NoncontrollingInterestMember2024-01-012024-06-300001207179us-gaap:AdditionalPaidInCapitalMember2024-01-012024-06-300001207179us-gaap:CommonStockMember2024-01-012024-06-300001207179us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-06-300001207179us-gaap:CommonStockMember2024-06-300001207179us-gaap:AdditionalPaidInCapitalMember2024-06-300001207179glng:ContributedSurplusMember2024-06-300001207179us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-300001207179us-gaap:RetainedEarningsMember2024-06-300001207179us-gaap:ParentMember2024-06-300001207179us-gaap:NoncontrollingInterestMember2024-06-300001207179glng:FLNGMemberus-gaap:MaritimeEquipmentMember2024-06-300001207179glng:LngCarrierMemberus-gaap:MaritimeEquipmentMember2024-06-300001207179us-gaap:EnergyRelatedDerivativeMember2024-01-012024-06-300001207179us-gaap:EnergyRelatedDerivativeMember2023-01-012023-06-300001207179us-gaap:OperatingSegmentsMemberglng:FLNGMemberus-gaap:SegmentContinuingOperationsMember2024-01-012024-06-300001207179us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMemberus-gaap:SegmentContinuingOperationsMember2024-01-012024-06-300001207179us-gaap:OperatingSegmentsMemberglng:ShippingMemberus-gaap:SegmentContinuingOperationsMember2024-01-012024-06-300001207179us-gaap:OperatingSegmentsMemberus-gaap:SegmentContinuingOperationsMember2024-01-012024-06-300001207179us-gaap:OperatingSegmentsMemberglng:FLNGMemberus-gaap:SegmentContinuingOperationsMember2024-06-300001207179us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMemberus-gaap:SegmentContinuingOperationsMember2024-06-300001207179us-gaap:OperatingSegmentsMemberglng:ShippingMemberus-gaap:SegmentContinuingOperationsMember2024-06-300001207179glng:FujiLNGMember2024-03-042024-03-040001207179us-gaap:OperatingSegmentsMemberglng:FLNGMemberus-gaap:SegmentContinuingOperationsMember2023-01-012023-06-300001207179us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMemberus-gaap:SegmentContinuingOperationsMember2023-01-012023-06-300001207179us-gaap:OperatingSegmentsMemberglng:ShippingMemberus-gaap:SegmentContinuingOperationsMember2023-01-012023-06-300001207179us-gaap:OperatingSegmentsMemberus-gaap:SegmentContinuingOperationsMember2023-01-012023-06-300001207179us-gaap:OperatingSegmentsMemberglng:FLNGMemberus-gaap:SegmentContinuingOperationsMember2023-12-310001207179us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMemberus-gaap:SegmentContinuingOperationsMember2023-12-310001207179us-gaap:OperatingSegmentsMemberglng:ShippingMemberus-gaap:SegmentContinuingOperationsMember2023-12-310001207179glng:BasetollingfeeLiquefactionServicesMember2024-01-012024-06-300001207179glng:BasetollingfeeLiquefactionServicesMember2023-01-012023-06-300001207179glng:HilliLLCMember2021-03-310001207179us-gaap:SalesMemberglng:LiquefactionServicesMember2023-01-012023-06-300001207179us-gaap:OtherOperatingIncomeExpenseMember2023-01-012023-06-300001207179glng:HilliLLCMember2021-07-012021-07-310001207179glng:HilliLLCMember2022-07-012022-07-310001207179glng:HilliLLCMembersrt:MaximumMember2022-07-012022-07-310001207179glng:GolarTundraMember2023-01-012023-06-3000012071792023-01-012023-12-310001207179glng:HilliMemberglng:DeferredRevenueMember2024-06-300001207179glng:HilliMemberglng:DeferredRevenueMember2023-12-3100012071792024-07-01glng:LiquefactionServicesMember2024-06-300001207179glng:HilliMemberglng:UnderutilizationLiabilityMember2022-12-310001207179glng:GolarArticMemberglng:AdvancePaymentLiabilityMember2023-06-300001207179glng:GandriaMember2023-12-310001207179glng:OilDerivativeInstrumentMember2024-01-012024-06-300001207179glng:OilDerivativeInstrumentMember2023-01-012023-06-300001207179glng:CommoditySwapMember2024-01-012024-06-300001207179glng:CommoditySwapMember2023-01-012023-06-300001207179glng:GasDerivativeInstrumentMember2024-01-012024-06-300001207179glng:GasDerivativeInstrumentMember2023-01-012023-06-300001207179glng:NewFortressEnergyNFEMember2023-01-012023-06-300001207179glng:NewFortressEnergyNFEMembersrt:MinimumMember2023-06-300001207179glng:NewFortressEnergyNFEMembersrt:MaximumMember2023-06-300001207179glng:NewFortressEnergyNFEMember2023-03-152023-03-150001207179glng:HilliCommonUnitsMember2023-03-152023-03-150001207179us-gaap:InterestRateSwapMember2024-01-012024-06-300001207179us-gaap:InterestRateSwapMember2023-01-012023-06-300001207179glng:GolarKelvinAndGolarIceMemberglng:DebtGuaranteeFeesMember2024-01-012024-06-300001207179glng:CSSCVIELoanMemberus-gaap:SecuredDebtMember2024-01-012024-06-300001207179us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2024-06-300001207179us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-12-310001207179us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2018-06-012018-06-300001207179us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-06-012023-06-300001207179us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberglng:CSSCMemberglng:HilliLLCMember2024-06-300001207179us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SegmentContinuingOperationsMember2024-01-012024-06-300001207179us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:SegmentContinuingOperationsMember2023-01-012023-06-300001207179glng:GolarMemberglng:GolarHilliLLCMemberglng:CommonUnitsMember2024-06-300001207179glng:GolarMemberglng:GolarHilliLLCMemberglng:SeriesASpecialUnitsMember2024-06-300001207179glng:GolarMemberglng:GolarHilliLLCMemberglng:SeriesBSpecialUnitsMember2024-06-300001207179glng:KeppelShipyardLimitedKeppelMemberglng:GolarHilliLLCMemberglng:CommonUnitsMember2024-06-300001207179glng:KeppelShipyardLimitedKeppelMemberglng:GolarHilliLLCMemberglng:SeriesASpecialUnitsMember2024-06-300001207179glng:KeppelShipyardLimitedKeppelMemberglng:GolarHilliLLCMemberglng:SeriesBSpecialUnitsMember2024-06-300001207179glng:BlackandVeatchBVMemberglng:GolarHilliLLCMemberglng:CommonUnitsMember2024-06-300001207179glng:BlackandVeatchBVMemberglng:GolarHilliLLCMemberglng:SeriesASpecialUnitsMember2024-06-300001207179glng:BlackandVeatchBVMemberglng:GolarHilliLLCMemberglng:SeriesBSpecialUnitsMember2024-06-300001207179glng:HilliLLCMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2024-06-300001207179glng:HilliLLCMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-12-310001207179us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberglng:HilliLLCMemberglng:LiquefactionServicesMember2024-01-012024-06-300001207179us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberglng:HilliLLCMemberglng:LiquefactionServicesMember2023-01-012023-06-300001207179glng:HilliLLCMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2024-01-012024-06-300001207179glng:HilliLLCMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-01-012023-06-300001207179us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:AdditionalPaidInCapitalMemberglng:HilliLLCMember2024-01-012024-06-300001207179us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:AdditionalPaidInCapitalMemberglng:HilliLLCMember2023-01-012023-06-300001207179us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:NoncontrollingInterestMemberglng:HilliLLCMember2024-01-012024-06-300001207179us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:NoncontrollingInterestMemberglng:HilliLLCMember2023-01-012023-06-300001207179glng:GolarHilliLLCMember2023-03-152023-03-150001207179glng:GimiMSMemberglng:FLNGMember2019-04-160001207179glng:GolarGimiMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2024-06-300001207179glng:GolarGimiMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-12-310001207179glng:GolarGimiMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2024-01-012024-06-300001207179glng:GolarGimiMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-01-012023-06-300001207179us-gaap:PerformanceGuaranteeMemberglng:GoFLNGHilliFacilityMember2024-06-300001207179us-gaap:PerformanceGuaranteeMemberglng:GoFLNGHilliFacilityMember2023-12-310001207179us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2024-06-300001207179us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-12-310001207179us-gaap:PerformanceGuaranteeMemberglng:LNGCroatiaMember2024-06-300001207179us-gaap:PerformanceGuaranteeMemberglng:LNGCroatiaMember2023-12-310001207179us-gaap:PerformanceGuaranteeMemberglng:GimiFacilityMember2024-06-300001207179us-gaap:PerformanceGuaranteeMemberglng:GimiFacilityMember2023-12-310001207179us-gaap:LeaseAgreementsMember2024-06-300001207179us-gaap:LeaseAgreementsMember2023-12-310001207179glng:GoFLNGHilliFacilityMember2015-11-300001207179us-gaap:PerformanceGuaranteeMemberglng:GoFLNGHilliFacilityMember2015-11-300001207179glng:GoFLNGHilliFacilityMember2021-05-012021-05-310001207179glng:GoFLNGHilliFacilityMember2021-05-310001207179us-gaap:PerformanceGuaranteeMembercurrency:USDglng:LNGCroatiaMember2024-06-300001207179us-gaap:PerformanceGuaranteeMembercurrency:EURglng:LNGCroatiaMember2024-06-300001207179us-gaap:PerformanceGuaranteeMembercurrency:USDglng:LNGCroatiaMember2024-01-012024-06-300001207179glng:GimiSevenHundredMillionFacilityMemberus-gaap:LongTermDebtMember2019-10-310001207179us-gaap:CommodityContractMember2024-06-300001207179us-gaap:CommodityContractMember2023-12-310001207179glng:MoneyMarketDepositsAndBankAccountsMember2024-06-300001207179glng:MoneyMarketDepositsAndBankAccountsMember2023-12-310001207179us-gaap:InterestRateSwapMember2024-06-300001207179us-gaap:InterestRateSwapMember2023-12-310001207179us-gaap:OtherCurrentAssetsMember2024-06-3000012071792019-04-012019-04-300001207179glng:GimiConversionMemberglng:GimiSevenHundredMillionFacilityMember2019-04-012019-04-300001207179glng:GimiConversionMember2024-06-300001207179glng:AvenirLNGMember2024-01-012024-06-300001207179glng:AvenirLNGMember2023-01-012023-06-300001207179glng:CoolCoMember2024-01-012024-06-300001207179glng:CoolCoMember2023-01-012023-06-300001207179us-gaap:OtherInvesteesMember2024-01-012024-06-300001207179us-gaap:OtherInvesteesMember2023-01-012023-06-300001207179glng:AvenirLNGMember2024-06-300001207179glng:AvenirLNGMember2023-12-310001207179glng:LogisticaEDistribuicaoDeGasS.A.LOGASMember2024-06-300001207179glng:LogisticaEDistribuicaoDeGasS.A.LOGASMember2023-12-310001207179glng:EgyptianCompanyForGasServicesS.A.EECGSMember2024-06-300001207179glng:EgyptianCompanyForGasServicesS.A.EECGSMember2023-12-310001207179glng:AqualungCarbonCaptureASMember2024-06-300001207179glng:AqualungCarbonCaptureASMember2023-12-310001207179glng:MGASComercializadoraDeGasNaturalLtdaMGASMember2024-06-300001207179glng:MGASComercializadoraDeGasNaturalLtdaMGASMember2023-12-310001207179glng:CoolCoMember2023-03-312023-03-310001207179glng:CoolCoMember2023-12-310001207179glng:CoolCoMember2023-03-012023-03-310001207179glng:CoolCoMember2024-06-300001207179glng:MGASComercializadoraDeGasNaturalLtdaMGASMember2024-05-230001207179glng:MGASComercializadoraDeGasNaturalLtdaMGASMember2024-05-232024-05-230001207179glng:OilDerivativeInstrumentMember2024-06-300001207179glng:OilDerivativeInstrumentMember2023-12-310001207179glng:GasDerivativeInstrumentMember2024-06-300001207179glng:GasDerivativeInstrumentMember2023-12-310001207179glng:MKIIFLNGMember2024-06-300001207179glng:MKIIFLNGMember2023-12-310001207179glng:F2XProjectMember2024-06-300001207179glng:F2XProjectMember2023-12-310001207179us-gaap:OtherNoncurrentAssetsMember2024-06-300001207179us-gaap:OtherNoncurrentAssetsMember2023-12-310001207179glng:GimiFacilityMemberus-gaap:RevolvingCreditFacilityMember2024-06-300001207179glng:GimiFacilityMemberus-gaap:RevolvingCreditFacilityMember2023-12-310001207179glng:NorwegianBondsMemberus-gaap:LongTermDebtMember2024-06-300001207179glng:NorwegianBondsMemberus-gaap:LongTermDebtMember2023-12-310001207179glng:GolarArcticFacilityMemberus-gaap:SecuredDebtMember2024-06-300001207179glng:GolarArcticFacilityMemberus-gaap:SecuredDebtMember2023-12-310001207179glng:CSSCVIELoanMemberus-gaap:SecuredDebtMember2024-06-300001207179glng:CSSCVIELoanMemberus-gaap:SecuredDebtMember2023-12-310001207179glng:GolarMember2024-06-300001207179glng:GolarGimiMember2024-06-300001207179glng:GolarGimiMember2023-12-310001207179us-gaap:FairValueInputsLevel1Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-06-300001207179us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300001207179us-gaap:FairValueInputsLevel1Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310001207179us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001207179us-gaap:FairValueInputsLevel1Memberus-gaap:CommodityContractMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-06-300001207179us-gaap:FairValueInputsLevel1Memberus-gaap:CommodityContractMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300001207179us-gaap:FairValueInputsLevel1Memberus-gaap:CommodityContractMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310001207179us-gaap:FairValueInputsLevel1Memberus-gaap:CommodityContractMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001207179us-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateSwapMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-06-300001207179us-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateSwapMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300001207179us-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateSwapMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310001207179us-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateSwapMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001207179us-gaap:FairValueInputsLevel2Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-06-300001207179us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300001207179us-gaap:FairValueInputsLevel2Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310001207179us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001207179us-gaap:FairValueInputsLevel2Memberus-gaap:EnergyRelatedDerivativeMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-06-300001207179us-gaap:FairValueInputsLevel2Memberus-gaap:EnergyRelatedDerivativeMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300001207179us-gaap:FairValueInputsLevel2Memberus-gaap:EnergyRelatedDerivativeMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310001207179us-gaap:FairValueInputsLevel2Memberus-gaap:EnergyRelatedDerivativeMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001207179us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateSwapMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-06-300001207179us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateSwapMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300001207179us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateSwapMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310001207179us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateSwapMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001207179us-gaap:FairValueInputsLevel2Memberus-gaap:CommodityContractMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-06-300001207179us-gaap:FairValueInputsLevel2Memberus-gaap:CommodityContractMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300001207179us-gaap:FairValueInputsLevel2Memberus-gaap:CommodityContractMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310001207179us-gaap:FairValueInputsLevel2Memberus-gaap:CommodityContractMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001207179us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-06-300001207179us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMembersrt:MinimumMember2024-06-300001207179us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMembersrt:MaximumMember2024-06-300001207179glng:OilDerivativeInstrumentMember2018-12-310001207179glng:CommoditySwapMember2024-06-300001207179glng:CommoditySwapPayFixedMember2024-06-300001207179us-gaap:RelatedPartyMemberglng:AvenirLNGMember2024-06-300001207179us-gaap:RelatedPartyMemberglng:AvenirLNGMember2023-12-310001207179glng:AvenirLNGMemberglng:LoanToRelatedPartyMember2024-01-012024-06-300001207179glng:AvenirLNGMemberglng:LoanToRelatedPartyMember2024-06-300001207179us-gaap:RelatedPartyMemberglng:AvenirLNGMemberglng:OtherRelatedPartyTransactionsMember2024-06-300001207179us-gaap:RelatedPartyMemberglng:AvenirLNGMemberglng:OtherRelatedPartyTransactionsMember2023-06-300001207179glng:AvenirLNGMemberglng:DebtGuaranteeCompensationMember2024-01-012024-06-300001207179glng:AvenirLNGMemberglng:DebtGuaranteeCompensationMember2023-01-012023-06-300001207179glng:CoolCoAndSubsidiariesMemberglng:ManagementAndAdministrativeServiceFeesMember2023-01-012023-03-020001207179glng:CoolCoAndSubsidiariesMemberglng:ShipManagementFeesExpenseMember2023-01-012023-03-020001207179glng:CoolCoAndSubsidiariesMemberglng:DebtGuaranteeCompensationMember2023-01-012023-03-020001207179glng:CoolCoAndSubsidiariesMemberglng:CommitmentFeeOnShortTermLoanMember2023-01-012023-03-020001207179glng:CoolCoAndSubsidiariesMember2023-01-012023-03-020001207179glng:MKIIFLNGMembersrt:MaximumMember2022-12-310001207179glng:MKIIFLNGMember2024-06-300001207179us-gaap:SubsequentEventMember2024-08-030001207179us-gaap:SubsequentEventMembersrt:ScenarioForecastMember2024-08-032024-12-3100012071792024-01-102024-01-100001207179us-gaap:SubsequentEventMember2024-08-15

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE
SECURITIES EXCHANGE ACT OF 1934

For the month of August 2024

Commission File Number: 000-50113
GOLAR LNG LIMITED
(Translation of registrant’s name into English)
2nd Floor
S.E. Pearman Building
9 Par-la-Ville Road
Hamilton HM 11
Bermuda

(Address of principal executive office)


Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F [ X ]     Form 40-F [ ]

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Included is the Overview, Operating and Financial Review for the six months ended June 30, 2024 and the unaudited consolidated financial statements of Golar LNG Limited (the “Company” or “Golar”) as of and for the six months ended June 30, 2024.

The information contained in this report on Form 6-K (this “Report”) is hereby incorporated by reference into the Company’s registration statement on Form F-3 ASR (File No. 333-271027), which was filed with the U.S. Securities and Exchange Commission (the “Commission”) on March 31, 2023.




SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

GOLAR LNG LIMITED
(Registrant)
Date: August 16, 2024
By:
/s/ Eduardo Maranhão
Name:
Eduardo Maranhão
Title:Principal Financial Officer



UNAUDITED INTERIM FINANCIAL REPORT

Forward-Looking Statements

Matters discussed in this Report may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

We desire to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are including this cautionary statement in connection with this safe harbor legislation. This Report and any other written or oral statements made by us or on our behalf may include forward-looking statements, which reflect our current views with respect to future events and financial performance. When used in this Report, the words “believe,” “anticipate,” “intend,” “estimate,” “forecast,” “projected,” “plan,” “potential,” “continue,” “will,” “may,” “could,” “should,” “would,” “expect” and similar expressions identify forward-looking statements.

The forward-looking statements in this Report are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. As a result, you are cautioned not to rely on any forward-looking statements.

In addition to these important factors and matters discussed elsewhere herein, important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include, among other things:

•our ability and that of our counterparty to meet our respective obligations under the 20-year lease and operate agreement (the “LOA”) with BP Mauritania Investments Limited, a subsidiary of BP p.l.c (“bp”), entered into in connection with the Greater Tortue Ahmeyim Project (the “GTA Project”), including the commissioning and start-up of various project infrastructure such as the floating production, storage and offloading unit. Delays could result in incremental costs to both parties to the LOA, delay floating liquefaction natural gas vessel (“FLNG”) commissioning works and the start of operations for our FLNG Gimi (“FLNG Gimi”);
•our ability to meet our obligations under our commercial agreements, including the liquefaction tolling agreement (the “LTA”) entered into in connection with the FLNG Hilli Episeyo (“FLNG Hilli”);
•our ability to meet our obligations with Pan American Energy (“PAE”) in connection with the recently signed agreement on FLNG deployment in Argentina;
•that an attractive deployment opportunity, or any of the opportunities under discussion for the Mark II FLNG (“MKII FLNG”), one of our FLNG designs, will be converted into a suitable contract. Failure to do this in a timely manner or at all could expose us to losses on our investments in a donor vessel for a prospective Mark II project, the Fuji LNG, long-lead items and engineering services to date. Assuming a satisfactory contract is secured, changes in project capital expenditures, foreign exchange and commodity price volatility could have a material impact on the expected magnitude and timing of our return on investment;
•changes in our ability to retrofit vessels as FLNGs and our ability to secure financing for such conversions on acceptable terms or at all;
•failure of our contract counterparties to comply with their agreements with us or other key project stakeholders;
•increased tax liabilities in the jurisdictions where we are currently operating or have previously operated;
•global economic trends, competition and geopolitical risks, including impacts from the 2024 U.S. presidential election, the length and severity of future pandemic outbreaks, rising inflation and the ongoing conflicts in Ukraine and the Middle East, potential for trade wars or conflict between the US and China, attacks on vessels in the Red Sea and the related sanctions and other measures, including the related impacts on the supply chain for our conversions or commissioning works, the operations of our charterers and customers, our global operations and our business in general;
•failure of shipyards to comply with schedules, performance specifications or agreed prices;
•continuing volatility in the global financial markets, including but not limited to commodity prices, foreign exchange rates and interest rates;
•changes in general domestic and international political conditions, particularly where we operate, or where we seek to operate;
•changes in the availability of vessels to purchase and in the time it takes to build new vessels or convert existing vessels and our ability to obtain financing on acceptable terms or at all;
1

•continuing uncertainty resulting from potential future claims from our counterparties of purported force majeure under contractual arrangements, including but not limited to our future projects and other contracts to which we are a party;
•our ability to close potential future transactions in relation to equity interests in our vessels or to monetize our remaining equity method investments on a timely basis or at all;
•increases in operating costs as a result of inflation, including but not limited to salaries and wages, insurance, crew provisions, repairs and maintenance, spares and redeployment related modification costs;
•changes in our relationship with our equity method investments and the sustainability of any distributions they pay us;
•claims made or losses incurred in connection with our continuing obligations with regard to New Fortress Energy Inc. (“NFE”), Energos Infrastructure Holdings Finance LLC (“Energos”), Cool Company Ltd (“CoolCo”) and Snam S.p.A. (“Snam”);
•the ability of Energos, CoolCo and Snam to meet their respective obligations to us, including indemnification obligations;
•changes to rules and regulations applicable to liquefied natural gas (“LNG”) carriers, FLNGs or other parts of the natural gas and LNG supply;
•changes to rules on climate-related disclosures as required by U.S. Securities and Exchange Commission (the “Commission”), including but not limited to disclosure of certain climate-related risks and financial impacts, as well as greenhouse gas emissions;
•changes in the supply of or demand for LNG or LNG carried by sea for LNG carriers or FLNGs and the supply of natural gas or demand for LNG in Brazil;
•a material decline or prolonged weakness in charter rates for LNG carriers or tolling rates for FLNGs;
•actions taken by regulatory authorities that may prohibit the access of LNG carriers and FLNGs to various ports; and
•other factors listed from time to time in registration statements, reports or other materials that we have filed with or furnished to the Commission, including our annual report on Form 20-F for the year ended December 31, 2023, filed with the Commission on March 28, 2024 (the “2023 Annual Report”).

We caution readers of this Report not to place undue reliance on these forward-looking statements, which speak only as of their dates. These forward-looking statements are not guarantees of our future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements.

All forward-looking statements included in this Report are made only as of the date of this Report, and, except as required by law, we assume no obligation to revise or update any written or oral forward-looking statements made by us or on our behalf as a result of new information, future events or other factors. If one or more forward-looking statements are revised or updated, no inference should be drawn that additional revisions or updates will be made in the future.
2

Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following is a discussion of our financial condition and results of operations for the six months ended June 30, 2024 and 2023. Throughout this Report, unless the context indicates otherwise, the “Company”, “Golar”, “Golar LNG”, “we”, “us” and “our” all refer to Golar LNG Limited or any one or more of its consolidated subsidiaries, including Golar Management Limited, or to all such entities. References to “Avenir” refer to our affiliate Avenir LNG Limited (Norwegian OTC: AVENIR) and to any one or more of its subsidiaries. References to “NFE” refer to New Fortress Energy Inc. (Nasdaq: NFE), the third-party purchaser of our former affiliates, Golar LNG Partners LP and Hygo Energy Transition Ltd, which acquisition closed on April 15, 2021. References to “CoolCo” refer to Cool Company Ltd (Euronext Growth/NYSE: CLCO) and to any one or more of its subsidiaries. Unless otherwise indicated, all references to “USD” and “$” in this Report are to U.S. dollars. You should read the following discussion and analysis together with the unaudited consolidated financial statements and related notes included elsewhere in this Report. For additional information relating to our operating and financial review and prospects, including definitions of certain terms used herein, please see our 2023 Annual Report.

Overview

Our strategy is to provide market leading FLNG operations and focus our balance sheet flexibility to maximize shareholder returns through accretive FLNG projects. We offer gas resource holders a proven, quick and low-cost delivering solution to monetize stranded gas reserves. Our industry leading FLNG operational track record and FLNG growth prospects allow gas resource holders, developers and customers a low-cost, low-risk, quick-delivering solution for natural gas liquefaction.


Recent and Other Developments

In addition to the other information set forth in this Report on Form 6-K, please see “Item 5 - Operating and Financial Review and Prospects - Significant Developments since January 1, 2024” of our 2023 Annual Report.

Since June 30, 2024, certain recent and other developments that have occurred are as follows:

•Gimi’s LOA Amendment Deed

In August 2024, we entered into an LOA Amendment Deed to resolve the ongoing LOA contract interpretation dispute (the “Amendment Deed”). The Amendment Deed simplified the contractual cash flows and settled previous disputes related to payment mechanisms for pre-Commercial Operations Date (“pre-COD”) cashflows and re-aligns both Golar and bp towards the successful completion of the GTA Project and reaching COD. Consequentially, all existing disputes, including the arbitration process have been settled.

The Amendment Deed includes a step-up mechanism for daily payments, which are tied to project milestones pre-COD, secured by defined long-stop dates. Golar will also be entitled to receive lump sum bonus payments upon the achievement of specific project milestones. Under the terms of the Amendment Deed, Golar expects to receive approximately $220 million across 2024 and 2025 in pre-COD compensation inclusive of milestone bonuses, of which approximately $130 million will be invoiced in 2024. The $110 million that Golar has paid bp in liquidated damages for the period up until January 10, 2024 will remain with bp. It is expected that this pre-COD compensation, net of paid liquidated damages, will be deferred on the balance sheet until COD.

•20-year FLNG deployment project with Pan American Energy

In July 2024, we entered into definitive agreements with Pan American Energy (“PAE”) for a 20-year FLNG deployment project in Argentina, expected to generate an annual Adjusted EBITDA of $300 million, before the commodity-linked earnings. The fully executed agreements include a Gas Sales Agreement from PAE for the supply of gas and FLNG charter agreement with us. A Final Investment Decision (“FID”) expected before year-end is subject to receipt of regulatory and environmental approvals and fulfillment of customary closing conditions to each parties’ satisfaction.

As part of the agreements, Golar will also hold a 10% stake in Southern Energy S.A., a dedicated joint venture with PAE, responsible for the purchase of domestic natural gas, operations and sale and marketing of LNG volumes from Argentina.

3

•Dividends

In August 2024, we declared a dividend of $0.25 per share in respect of the three months ended June 30, 2024 to shareholders of record on August 26, 2024, which will be paid on or around September 3, 2024.

•2024 Annual General Assembly

In August 2024, we held our annual general meeting to re-elect all our directors, re-appoint Ernst & Young LLP as our auditors and approve the remuneration of our directors for the year ending December 31, 2024.

Operating and Financial Review

See note 4 “Segment Information” of the unaudited consolidated financial statements included herein for additional information on our segments.

Reconciliations of consolidated net income to Adjusted EBITDA for the six months ended June 30, 2024 and 2023 are as follows:
(in thousands of $)20242023
Net income/(loss)
101,725 (85,659)
Income taxes278 1,697 
Income/(loss) before income taxes
102,003 (83,962)
Depreciation and amortization26,256 25,027 
Impairment of long-lived assets— 5,021 
Unrealized loss on oil and gas derivative instruments
13,902 191,657 
Realized and unrealized mark-to-market losses on investment in listed equity securities
— 62,308 
Other non-operating income, net— (9,823)
Interest income(18,582)(23,318)
Interest expense— 972 
Gains on derivative instruments, net
(6,309)(2,297)
Other financial items, net2,694 1,375 
Net losses from equity method investments
2,339 296 
Net income from discontinued operations
— (293)
Adjusted EBITDA (1)
122,303 166,963 
(1) Adjusted EBITDA is a non-U.S. GAAP financial measure and is calculated by taking net income before net (income)/loss from discontinued operations, net losses from equity method investments, income taxes, net other financial items, net gains on derivative instruments, interest expense, interest income, net other non-operating income, realized and unrealized mark-to-market losses/(gains) on investment in listed equity securities, unrealized loss/(gain) on oil and gas derivative instruments, impairment of long-lived assets and depreciation and amortization. Adjusted EBITDA increases the comparability of our operational performance from period to period and against the operational performance of other companies without regard to our financing methods or capital structure. Adjusted EBITDA should not be considered as an alternative to net income or any other measure of our financial performance calculated in accordance with U.S. GAAP.

The following details our consolidated results of operations for the six months ended June 30, 2024 and 2023:

Depreciation and amortization: The increase of $1.2 million for the six months ended June 30, 2024 compared to the same period in 2023 was due to commencement of the Fuji LNG's depreciation following her acquisition in March 2024 and increased amortization charge for the Golar Arctic following the completion of her drydock in November 2023.

Impairment of long-lived assets: The impairment charge of $5.0 million for the six months ended June 30, 2023 was associated with our previous LNG carrier, the Gandria. In May 2023, we entered into an agreement to sell the Gandria for net consideration of $15.2 million, which resulted in an impairment charge at the measurement date. There was no comparable impairment charge in the same period for 2024.

4

Unrealized loss on oil and gas derivative instruments:
Six months ended June 30,
(in thousands of $)20242023
Unrealized gain/(loss) on FLNG Hilli’s oil derivative instrument
15,092 (74,840)
Unrealized loss on FLNG Hilli’s gas derivative instrument
(5,294)(94,642)
Unrealized mark-to-market adjustment on commodity swap derivatives
(23,700)(22,175)
Unrealized loss on oil and gas derivative instruments
(13,902)(191,657)

•Unrealized gain/(loss) on FLNG Hilli's oil derivative instrument: This reflects the mark-to-market (“MTM”) movements related to the changes in the fair value of the FLNG Hilli’s oil derivative instrument embedded in the LTA which we estimated using the discounted future cash flows of the additional payments due to us as a result of Brent linked crude oil prices moving above a contractual oil price floor over the remaining term of the LTA. The increase of unrealized gain of $89.9 million resulted in an unrealized gain for the six months ended June 30, 2024 compared to unrealized loss for the six months ended June 30, 2023 was driven by the volatility in the future Brent linked crude oil price curve over the LTA’s remaining term.

•Unrealized loss on FLNG Hilli’s gas derivative instrument: This reflects the MTM movements related to the changes in the fair value of the FLNG Hilli’s gas derivative instrument embedded in the LTA which we estimated using the discounted future cash flows of the additional payments due to us for the 0.2 million tonnes (“mtpa”) incremental LNG capacity to the end of the LTA which is linked to the Dutch Title Transfer Facility (“TTF”) gas prices and forecast Euro/USD exchange rates. The decrease in unrealized MTM loss of $89.3 million for the six months ended June 30, 2024 compared to the same period in 2023 was primarily driven by the volatility in the future TTF linked gas price curve over the LTA’s remaining term.

•Unrealized MTM adjustment for commodity swap derivatives: We entered into commodity swaps to hedge our exposure to the TTF linked earnings on the FLNG Hilli (100% of which were attributable to us). The increase of $1.5 million in unrealized MTM loss for the six months ended June 30, 2024 compared to the same period in 2023 was due to 50% reduction in the hedged exposure of TTF gas price curves. This was offset by additional commodity swaps entered during the first quarter of 2023, which exposed us to the volatility of TTF linked gas price curves. Our exposure is economically hedged by swapping variable cash receipts linked to the TTF index for anticipated future production volumes with fixed payments from our TTF swap counterparties of which the resultant adjustments are presented in “Realized MTM adjustment on commodity swap derivatives,” in the unaudited consolidated statements of operations.

Realized and unrealized (losses)/gains on our investment in listed equity securities: This reflects the MTM movements related to changes in the fair value of the Class A NFE common shares (“NFE Shares”). During the six months ended June 30, 2023, we sold 1.2 million of our NFE Shares at a price range between $36.90 and $40.38 per share for an aggregate consideration of $45.6 million and used our remaining 4.1 million NFE Shares as part payment for the reacquisition of NFE’s 1,230 common units in Golar Hilli LLC (“Hilli LLC”) which resulted in realized MTM losses of $62.3 million for the six months ended June 30, 2023. There was no comparable expense in the same period for 2024.

Other non-operating income, net: This was related to the dividend income received from our NFE Shares prior to its disposal in 2023. There was no comparable income in the same period for 2024.

Interest income: The decrease of $4.7 million for the six months ended June 30, 2024 compared to the same period in 2023 was primarily due to a reduced short-term money-market deposit balance held during the six months ended June 30, 2024 compared to the same period in 2023.


5

Gains on derivative instruments, net:
Six months ended June 30,
(in thousands of $)20242023
Net interest income on undesignated interest rate swap (“IRS”) derivatives
4,555 3,750 
Unrealized MTM adjustment for IRS derivatives1,754 (1,453)
Gains on derivative instruments, net6,309 2,297 

•Net interest income on undesignated IRS derivatives: This reflects the net interest income in relation to our IRS derivatives. The increase of $0.8 million for the six months ended June 30, 2024 compared to the same period in 2023 was largely driven by the movements of the reference rates.

•Unrealized MTM adjustment for IRS derivatives: This reflects the MTM movements related to the changes in the fair value of our IRS derivatives. As of June 30, 2024 and 2023, we had an IRS portfolio with notional amounts of $539.0 million and $729.8 million, respectively, none of which are designated as hedges for accounting purposes. The $3.2 million increase in unrealized MTM gains for the six months ended June 30, 2024 was driven by higher long-term swap rates, partially offset by a decrease in the notional value of our swap portfolio and fair value adjustments related to our creditworthiness and that of our counterparties.

Other financial items, net:
Six months ended June 30,
(in thousands of $)20242023
Amortization of debt guarantees827 1,034 
Foreign exchange gain/(loss) on operations
460 (1,427)
Financing arrangement fees and other related costs(3,768)(799)
Others(213)(183)
Other financial items, net(2,694)(1,375)

•Foreign exchange gain/(loss) on operations: The increase of $1.9 million gain for the six months ended June 30, 2024 compared to foreign exchange loss for the six month ended June 30, 2023 was mainly driven by the favorable foreign exchange movements of the Norwegian Krone and British Pound Sterling against the U.S. Dollar; and

•Financing arrangement fees and other related costs: The increase of $3.0 million for the six months ended June 30, 2024 compared to the same period in 2023 was mainly due to $3.7 million of fees from the parent of the CSSC entity that we consolidate. There was no comparable expenses in the same period in 2023.

Net losses from equity method investments: The increase of $2.0 million net losses for the six months ended June 30, 2024 compared to the same period in 2023 were due to:

•a $0.5 million loss on disposal of our shareholding in MGAS Comercializadora de Gás Natural Ltda (“MGAS”). for the six months ended June 30, 2024, compared to a $0.8 million gain on disposal of our shareholding in CoolCo for the same period in 2023; and

•our share of net earnings in CoolCo of $1.5 million for the six months ended June 30, 2023. There was no comparable income in the same period in 2024.

6

FLNG segment

This relates to activities of the FLNG Hilli, FLNG Gimi and our other FLNG projects.
Six months ended June 30,
(in thousands of $)20242023
Total operating revenues112,488 116,594 
Realized gain on oil and gas derivative instruments, net
70,537 103,903 
Vessel operating expenses(41,549)(31,512)
Voyage, charterhire and commission expenses— (300)
Administrative expenses(437)(92)
Project development expenses(2,385)(2,237)
Other operating income— 2,499 
Adjusted EBITDA138,654 188,855 
Other Financial Data:
Liquefaction services revenue112,488 116,594 
Amortization of deferred commissioning period revenue, amortization of Day 1 gains, accrued overproduction revenue (1) and other
(8,027)(12,056)
Realized gain on oil and gas derivative instruments, net
70,537 103,903 
FLNG tariff, net (2)
174,998 208,441 
(1) Accrued overproduction revenue relates to revenue accrued for production in excess of the FLNG Hilli’s annual contracted base capacity pursuant to LTA Amendments 2 and 4.

(2) FLNG tariff, net is a non-U.S. GAAP financial measure and is calculated by taking the liquefaction services revenue adjusted for the amortization of deferred commissioning period revenue and Day 1 gains (deferred revenues), the unwinding of liquidated damages, accrued underutilization, accrued overproduction revenue and the realized gains on oil and gas derivative instruments. FLNG tariff, net reflects the cash earnings of FLNG Hilli in a given period which consists of the base tolling fees, oil linked fees, gas linked fees, billed overproduction revenue and underutilization adjustment invoiced to the customer. FLNG tariff, net increases the comparability of our FLNG performance from period to period and against the performance of other operational FLNGs. FLNG tariff, net should not be considered as an alternative to total operating revenue of the FLNG segment or any other measure of our financial performance calculated in accordance with U.S. GAAP.

Total operating revenues:
Six months ended June 30,
(in thousands of $)20242023
Base tolling fee 102,251 102,251 
Amortization of deferred commissioning period revenue 2,054 2,043 
Amortization of Day 1 gains 6,253 6,219 
Accrued overproduction revenue— 4,074 
Incremental base tolling fee 2,500 2,500 
Other(570)(493)
Total operating revenues
112,488 116,594 

•Accrued overproduction revenue: In April 2023, we entered into the fourth amendment to the LTA (the “LTA Amendment 4”) where we agreed with Perenco Cameroon S.A. and Société Nationale des Hydrocarbures (together, the “Customer”) to increase contract year 2023 annual contracted capacity by 0.04 million tonnes (from 1.4 million tonnes to 1.44 million tonnes) resulting from the inclusion of contract year 2022 underutilization into contract year 2023 annual LNG production.

7


For the six months ended June 30, 2023, we estimated $6.6 million of overproduction variable consideration. Pursuant to the fourth amendment to the LTA, we agreed with the Customer to increase contract year 2023 annual contracted capacity to offset the 2022 underproduction. The recognition was bifurcated between “Liquefaction services revenue” and “Other operating income” financial statement line items, of $4.1 million and $2.5 million, respectively. There were no comparable amounts for the six months ended June 30, 2024. See note 5 “Revenue” of the unaudited consolidated financial statements included herein for additional information.

Realized gain on oil and gas derivative instruments:
Six months ended June 30,
(in thousands of $)20242023
Realized gain on FLNG Hilli’s oil derivative instrument
36,656 36,156 
Realized MTM adjustment on commodity swap derivatives
24,719 42,066 
Realized gain on FLNG Hilli’s gas derivative instrument
9,162 25,681 
Realized gain on oil and gas derivative instruments, net
70,537 103,903 

•Realized MTM adjustment on commodity swap derivatives: We entered into commodity swaps to hedge our exposure of FLNG Hilli’s tolling fee that is linked to the TTF index pursuant to the LTA Amendment 2 (100% of which were attributable to us). The decrease of $17.3 million for the six months ended June 30, 2024 compared to the same period in 2023 was driven by a 50% reduction in the hedged exposure of TTF gas price curves.

•Realized gain on FLNG Hilli’s gas derivative instrument: This reflects the tolling fee in excess of the contractual floor rate, linked to TTF prices and the Euro/USD foreign exchange movements. The decrease of $16.5 million for the six months ended June 30, 2024 compared to the same period in 2023 was driven by a decreased one-month look-back average TTF price of €29.79 for the six months ended June 30, 2024 compared to €58.29 for the six months ended June 30, 2023.

FLNG Tariff, net: The decrease of $33.4 million for the six months ended June 30, 2024 compared to the same period in 2023 was primarily due to the decrease in the realized gains on FLNG Hilli’s oil and gas derivative instruments, net.

Vessel operating expenses: The increase of $10.0 million for the six months ended June 30, 2024 compared to the same period in 2023 was primarily due to:

•$2.9 million increase in FLNG Gimi's operating expenses resulting from the delays to the commencement of the FLNG commissioning; and

•$7.6 million increase in FLNG Hilli's operating expenses, primarily due to a $3.0 million increase in repairs, stores and consumables incurred during 2024 in relation to a planned maintenance window, a $3.0 million increase in management fees and a $1.0 million increase in crew costs given the 2023 costs were suppressed by the release of accruals for crew taxes following the finalization of the 2022 local tax return in 2023.

8

Corporate and other segment

This relates to our activities including ship management, administrative and ship operation and maintenance services. We have offices in Bermuda, London and Oslo that provide FLNG commercial, operational and technical support, crew management services and supervision, corporate secretarial, accounting and treasury services.

Six months ended June 30,
(in thousands of $)20242023
Total operating revenues10,830 24,044 
Vessel operating expenses(10,193)(9,670)
Voyage, charterhire and commission expenses(33)(19)
Administrative expenses(12,472)(17,979)
Project development expenses
(1,952)(34,713)
Other operating income— 7,817 
Adjusted EBITDA(13,820)(30,520)

Total operating revenues: The decrease of $13.2 million for the six months ended June 30, 2024 compared to the same period in 2023 was mainly due to:

•$13.8 million decrease in revenue following completion of the Development Agreement entered into with Snam for the drydocking, site commissioning and hook-up services of Italis LNG (formerly known as Golar Tundra) in May 2023. There was no comparable revenue for the same period in 2024;
•$1.3 million decrease in vessel management and administrative service fees, mainly charged to our former equity method investment, CoolCo; and
•partially offset by a $2.0 million increase in vessel operation and maintenance fees for the Italis LNG, which commenced in late May 2023.

Administrative expenses: The decrease of $5.5 million for the six months ended June 30, 2024, compared to the same period in 2023, was primarily due to:

•$3.7 million allocation of management and consultancy fees to vessel operating expenses of our FLNG segment due to time spent on FLNGs; and
•$0.4 million reclassification of professional fees to project development expenses, as these fees were related to pursuing future contracts and developing our pipeline of activities that have not met our internal threshold for capitalization.

Project development expenses: The decrease of $32.8 million for the six months ended June 30, 2024 compared to the same period in 2023 was primarily due to:

•$27.1 million decrease in professional fees and cost of materials to complete the Development Agreement on Italis LNG. There were no comparable expenses for the same period in 2024;
•$8.5 million decrease in engineering and professional fees related to the future sale of Golar Arctic to Snam following her conversion to FSRU (the “Arctic SPA”) which was terminated in June 2023 when Snam’s option to exercise the notice to proceed lapsed; and
•$2.8 million increase in professional and consultancy fees for other business development opportunities.

Other operating income: In June 2023, Snam's option to exercise the notice to proceed with the Arctic SPA lapsed. Consequently, we retained and recognized the non-refundable first advance payment of $7.8 million as income. There was no comparable income for the same period in 2024.

9

Shipping segment
Our shipping segment is comprised of transportation operations of our LNG carriers. We charter out LNG carriers on fixed term to customers.
Six months ended June 30,
(in thousands of $)20242023
Total operating revenues6,330 10,860 
Vessel operating expenses(5,394)(2,100)
Voyage, charterhire and commission expenses(3,448)(141)
Administrative (expense)/income
(18)9 
Project development income
(1)— 
Adjusted EBITDA(2,531)8,628 

Total operating revenues: The decrease of $4.5 million for the six months ended June 30, 2024 compared to the same period in 2023 was primarily due to:

•$7.9 million lower Golar Arctic revenue given she was mostly on commercial waiting time during the six months ended June 2024; and
•partially offset by a $3.3 million increase in revenue from Fuji LNG following its acquisition in March 2024. The Fuji LNG is currently operating as an LNG carrier until her conversion to an FLNG.

Vessel operating expenses: The increase of $3.3 million for the six months ended June 30, 2024 compared to the same period in 2023 was primarily due to:

•$1.9 million increase due to the operations of the Fuji LNG following its acquisition in March 2024; and
•$1.6 million increase in insurance costs due to the war risk insurance rebate receipt in March 2023. There were no comparable receipts for the same period in 2024.

Voyage, charterhire and commission expenses: This comprised of charterhire expenses, fuel costs associated with commercial waiting time and vessel positioning costs. While a vessel is on-hire, fuel costs are typically paid by the charterer, whereas during periods of commercial waiting time, fuel costs are paid by us. The increase of $3.3 million for the six months ended June 30, 2024 compared to the same period in 2023 was primarily due to $2.0 million and $1.4 million increase in fuel costs for the Golar Arctic and the Fuji LNG, respectively, during their commercial waiting time.

Liquidity and Capital Resources

Our short-term liquidity requirements are primarily for the servicing of our debt, working capital, potential investments, FLNG conversion projects and FLNG MKII project related commitments. We believe that our existing cash and cash equivalents and short-term bank deposits, together with cash flow from operations, will be sufficient to support our liquidity and capital requirements for at least the next 12 months.

As of June 30, 2024, we had cash and cash equivalents (including short-term deposits) of $621.5 million, of which $93.9 million is restricted cash. Included within restricted cash is $61.0 million in respect of the issuance of a letter of credit by a financial institution to the Customer, $17.6 million cash belonging to the lessor VIE that we are required to consolidate under U.S. GAAP and $12.4 million in respect of the Operation and Maintenance Agreement with LNG Hrvatska d.o.o. Refer to note 12 “Restricted Cash and Short-term Deposits” of our unaudited consolidated financial statements included herein for additional details.

10

Since June 30, 2024, transactions impacting our cash flows include:

Receipts of:
•$8.2 million of scheduled receipts in relation to net settlement of our commodity swap arrangements; and
•$7.3 million of pre-commissioning contractual cash flows received in relation to the Gimi LOA.

Payments of:
•$5.5 million of additions to the asset under development, the Gimi;
•$1.4 million of capital expenditure on the MKII FLNG, comprised of engineering services and long lead items; and
•$1.0 million of scheduled loan and interest repayments.

Borrowing activities

As of June 30, 2024, we were in compliance with all our covenants under our various loan agreements. See note 17 “Debt” in our unaudited consolidated financial statements included herein for additional information.

Security, Debt and Lease Restrictions

Certain of our financing agreements are collateralized by vessel mortgages. The existing financing agreements impose operating and financing restrictions which may significantly limit or prohibit, among other things, our ability to incur additional indebtedness, create liens, sell capital shares of subsidiaries, make certain investments, engage in mergers and acquisitions, purchase and sell vessels, enter into time or consecutive voyage charters or buy-back additional shares in excess of existing allowances and certain restrictions on the payment of dividends. In addition, lenders may accelerate the maturity of indebtedness under existing financing agreements and foreclose upon the collateral securing the indebtedness upon the occurrence of certain events of default, including a failure to comply with any of these existing covenants contained in the financing agreements. Many of our debt agreements contain certain covenants which require compliance with certain financial ratios. Such ratios include maintaining a positive working capital ratio, a free liquid asset ratio, a tangible net worth covenant and minimum free cash restrictions. With regards to cash restrictions, we have agreed to retain at least $50.0 million of cash and cash equivalents on a consolidated basis at each balance sheet date.

Cash Flows
Six months ended June 30,
(in thousands of $)20242023
Net cash provided by continuing operations92,209 85,998 
Net cash provided by discontinued operations— 276 
Net cash used in continuing investing activities(124,384)(21,501)
Net cash used in continuing financing activities(117,774)(175,237)
Net movement in cash and cash equivalents, restricted cash and short-term deposits within assets held for sale
— 369 
Net decrease in cash and cash equivalents, restricted cash, short-term deposits and cash within assets held for sale(149,949)(110,095)
Cash and cash equivalents, restricted cash and short-term deposits at the beginning of the period771,470 1,012,881 
Cash and cash equivalents, restricted cash and short-term deposits at the end of the period621,521 902,786 

11

Continuing and discontinued operations

The increase in net cash provided by continuing operations of $6.2 million for the six months ended June 30, 2024 compared to the same period in 2023 was mainly due to the improvement in general timing of working capital for six months ended June 30, 2024.

The net cash provided by discontinued operations of $0.3 million for the six months ended June 30, 2023 was in relation to the disposal of our vessel operations in Malaysia to CoolCo which was completed in May 2023. There was no comparable cash movement in the same period in 2024.

Investing activities

Net cash flows used in investing activities for the six months ended June 30, 2024 and 2023 were $124.4 million and $21.5 million, respectively, and were comprised of:

2024
•$89.0 million of additions in relation to the Gimi’s FLNG conversion;
•$63.5 million final settlement paid for Fuji LNG, a donor vessel in relation to our Mark II project and additions to office equipment;
•$27.3 million proceeds from First FLNG Holdings’ subscription of 30% additional equity interest in Gimi MS; and
•$0.8 million of consideration received from the sale of our investment in MGAS.

2023
•$138.1 million of additions in relation to the Gimi’s FLNG conversion;
•$56.1 million net proceeds from the sale of 4.5 million CoolCo shares;
•$45.6 million net proceeds from the sale of 1.2 million NFE Shares;
•$21.1 million proceeds from First FLNG Holdings’ subscription of 30% additional equity interest in Gimi MS;
•$15.5 million deposit paid for a donor vessel in relation to our MKII FLNG project;
•$11.1 million of dividends received from our NFE Shares prior to disposal;
•$3.5 million revolving shareholder loan advanced to Avenir; and
•$2.3 million of advance consideration received from the sale of Gandria.

Financing activities

Net cash flows used in financing activities for the six months ended June 30, 2024 and 2023 were $117.8 million and $175.2 million, respectively, and were comprised of:

2024
•$56.7 million total dividends paid, which comprised $52.0 million and $4.7 million to the stockholders of Golar LNG and Hilli LLC, respectively;
•$46.3 million of scheduled debt repayments which includes $42.7 million of repayments made by our lessor VIE;
•$14.2 million paid to repurchase our own shares under our share repurchase program; and
•$0.6 million financing costs paid in relation to the Gimi facility.

2023
•$100.0 million paid to acquire 1,230 common units of Hilli LLC from NFE;
•$85.0 million drawdown from the Gimi facility;
•$56.0 million of scheduled debt repayments which includes $52.4 million of repayments made by our lessor VIE;
•$44.5 million total dividends paid, which comprised $27.7 million and $17.8 million to the stockholders of Golar LNG and Hilli LLC, respectively;
•$29.4 million paid to repurchase our own shares under our share repurchase program;
•$20.4 million partial repurchases of our $300 million senior unsecured bonds (“Unsecured Bonds”) in March 2023 and April 2023; and
•$9.8 million financing costs paid predominantly in relation to fees on the amendment for FLNG Hilli’s sale and leaseback facility and the Unsecured Bonds.



12

GOLAR LNG LIMITED
INDEX TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

                                                     PAGE


Unaudited Consolidated Statements of Operations for the six months ended June 30, 2024 and 2023
Unaudited Consolidated Statements of Comprehensive Income/(Loss) for the six months ended June 30, 2024 and 2023
Unaudited Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023
Unaudited Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023
Unaudited Consolidated Statements of Changes in Equity for the six months ended June 30, 2024 and 2023
Condensed Notes to the Unaudited Consolidated Financial Statements


    

        










GOLAR LNG LIMITED
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands of $, except per share data)NotesSix months ended June 30,
20242023
Liquefaction services revenue5112,488 116,594 
Vessel management fees and other revenues
5, 21
10,830 24,044 
Time and voyage charter revenues 106,330 10,860 
Total operating revenues129,648 151,498 
Vessel operating expenses(57,136)(43,282)
Voyage, charterhire and commission expenses (3,481)(460)
Administrative expenses(12,927)(18,062)
Project development expenses(4,338)(36,950)
Depreciation and amortization(26,256)(25,027)
Impairment of long-lived assets— (5,021)
Total operating expenses4(104,138)(128,802)
Realized and unrealized gain/(loss) on oil and gas derivative instruments
4, 756,635 (87,754)
Other operating income5— 10,316 
Total other operating income/(losses)
56,635 (77,438)
Operating income/(losses)
82,145 (54,742)
Realized and unrealized mark-to-market losses on our investment in listed equity securities
— (62,308)
Other non-operating income, net— 9,823 
Total other non-operating losses
8— (52,485)
Interest income2018,582 23,318 
Interest expense, net— (972)
Gains on derivative instruments, net96,309 2,297 
Other financial items, net9(2,694)(1,375)
Net financial income22,197 23,268 
Income/(loss) before taxes and net income from equity method investments
104,342 (83,959)
Income taxes expense
(278)(1,697)
Net losses from equity method investments
15(2,339)(296)
Net income/(loss) from continuing operations
101,725 (85,952)
Net income from discontinued operations
— 293 
Net income/(loss)
101,725 (85,659)
Net income attributable to non-controlling interests
(20,598)(20,749)
Total net income attributable to non-controlling interests(20,598)(20,749)
Net income/(loss) attributable to stockholders of Golar LNG Limited
81,127 (106,408)
Basic earnings/(loss) per share from continuing operations ($)
60.78 (0.99)
Dilutive earnings/(loss) per share from continuing operations ($)
60.77 (0.99)
Basic and dilutive earnings/(loss) per share from discontinued operations ($)
6— 0.00
The accompanying notes are an integral part of these unaudited consolidated financial statements.
13

GOLAR LNG LIMITED
UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)
(in thousands of $)NotesSix months ended June 30,
20242023
 
Net income/(loss)
101,725 (85,659)
 
Other comprehensive (loss)/income:
(Losses)/gains associated with pensions, net of tax (1)
(1,251)1,456 
Share of equity method investment’s comprehensive gain (2)
288 184 
Net other comprehensive (loss)/income
(963)1,640 
Comprehensive income/(loss)
100,762 (84,019)
Comprehensive income/(loss) attributable to:
 
Stockholders of Golar LNG Limited80,164 (104,768)
Non-controlling interests
20,598 20,749 
Comprehensive income/(loss)
100,762 (84,019)
(1) In May 2024, we entered into a buy-in insurance agreement in relation to one of our defined benefit pension plans. This resulted to the disinvestment of the pension plan's assets previously held by a third-party financial institution and a net charge to other comprehensive (loss)/income of $1.4 million, netted off by the amortization of actuarial gains of $0.1 million for the six months ended June 30, 2024.
(2) No tax impact for the six months ended June 30, 2024 and 2023.
The accompanying notes are an integral part of these unaudited consolidated financial statements.

14

GOLAR LNG LIMITED
UNAUDITED CONSOLIDATED BALANCE SHEETS
20242023
NotesJune 30,December 31,
(in thousands of $)UnauditedAudited
ASSETS
Current assets
Cash and cash equivalents527,591 679,225 
Restricted cash and short-term deposits
1219,539 18,115 
Trade accounts receivable31,511 38,915 
Amounts due from related parties21— 7,312 
Other current assets13146,465 71,997 
Total current assets725,106 815,564 
Non-current assets
Restricted cash1274,391 74,130 
Equity method investments
1550,153 53,982 
Asset under development141,692,854 1,562,828 
Vessels and equipment, net1,129,700 1,077,677 
Non-current amounts due from related parties217,525 — 
Other non-current assets16441,289 499,806 
Total assets4,121,018 4,083,987 
LIABILITIES AND EQUITY
Current liabilities
Current portion of long-term debt and short-term debt17(353,334)(342,566)
Trade accounts payable(88,985)(7,454)
Accrued expenses(117,093)(144,810)
Other current liabilities18(25,009)(50,950)
Total current liabilities(584,421)(545,780)
Non-current liabilities
Long-term debt17(820,258)(874,164)
Other non-current liabilities19(52,330)(61,600)
Total liabilities(1,457,009)(1,481,544)
EQUITY
Stockholders’ equity
(2,086,096)(2,067,669)
Non-controlling interests(577,913)(534,774)
Total liabilities and equity(4,121,018)(4,083,987)
The accompanying notes are an integral part of these unaudited consolidated financial statements.

15



GOLAR LNG LIMITED
UNAUDITED CONSOLIDATED STATEMENTS OF CASHFLOWS
 NotesSix months ended June 30,
(in thousands of $)20242023
OPERATING ACTIVITIES
Net income/(loss)
101,725 (85,659)
Add: Net income from discontinued operations
— (293)
Net income/(loss) from continuing operations
101,725 (85,952)
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:
Depreciation and amortization26,256 25,027
Amortization of deferred charges and debt guarantees, net 1,983 512
Impairment of long-lived assets4— 5,021
Net loss from equity method investments
152,339 296 
Drydocking expenditure(1,375)— 
Compensation cost related to employee stock awards4,240 3,858
Net foreign exchange (gains)/losses
9(460)1,426
Change in fair value of investment in listed equity securities8— 62,308
Change in fair value of derivative instruments (interest rate swaps)9(1,754)1,453 
Change in fair value of derivative instruments (oil and gas derivatives), commodity swaps and amortization of day 1 gains7,649 185,438 
Changes in assets and liabilities:
Trade accounts receivable4,883 4,314
Other current and non-current assets(39,787)(113,535)
Amounts due from related parties(185)384
Trade accounts payable4,910 2,572
Accrued expenses9,006 5,407
Other current and non-current liabilities(27,221)(12,531)
Net cash provided by continuing operations92,209 85,998 
Net income from discontinued operations
— 293
Depreciation and amortization— 20
Gain on disposal and impairment of long-lived assets
— (27)
Compensation cost related to employee stock awards— 3
Net foreign exchange losses— 17
Changes in assets and liabilities:
Other current and non-current assets— 300
Trade accounts payable— (2)
Accrued expenses— (165)
Other current and non-current liabilities— (163)
Net cash provided by discontinued operations
— 276 
16

 NotesSix months ended June 30,
(in thousands of $)20242023
INVESTING ACTIVITIES
Additions to assets under development(88,965)(138,102)
Additions to vessels and equipment(63,519)(619)
Proceeds from subscription of equity interest in Gimi MS1127,278 21,118 
Proceeds from sale of equity method investments15822 56,097 
Deposit paid for vessel16— (15,500)
Loan advanced to related parties21— (3,500)
Proceeds from sale of listed equity securities8— 45,552 
Dividends received from listed equity securities— 11,128 
Consideration received for long-lived assets held for sale5— 2,325 
Net cash used in continuing investing activities
(124,384)(21,501)
FINANCING ACTIVITIES
Cash dividends paid(56,708)(44,537)
Repayments of short-term and long-term debt(46,317)(76,397)
Purchase of treasury shares(14,180)(29,447)
Financing costs paid(569)(9,809)
Reacquisition of common units in Hilli LLC— (100,047)
Proceeds from short-term and long-term debt — 85,000
Net cash used in continuing financing activities(117,774)(175,237)
Cash and cash equivalents, restricted cash and short-term deposits within assets held for sale at the beginning of period— 369
Net increase in cash and cash equivalents, restricted cash and short-term deposits within assets held for sale— 369 
Net decrease in cash and cash equivalents, restricted cash, short-term deposits and cash within assets held for sale
(149,949)(110,095)
Cash and cash equivalents, restricted cash and short-term deposits at the beginning of the period771,470 1,012,881 
Cash and cash equivalents, restricted cash and short-term deposits at the end of the period621,521 902,786 
Supplemental note to the unaudited consolidated statements of cash flows
The following table identifies the balance sheet line-items included in cash, cash equivalents and restricted cash presented in the unaudited consolidated statements of cash flows:
(in thousands of $)June 30, 2024December 31, 2023June 30, 2023December 31, 2022
Cash and cash equivalents527,591 679,225 770,567 878,838 
Restricted cash and short-term deposits19,539 18,115 58,495 21,693 
Restricted cash (non-current portion)74,391 74,130 73,724 112,350 
621,521 771,470 902,786 1,012,881 
The accompanying notes are an integral part of these unaudited consolidated financial statements.
17

GOLAR LNG LIMITED
UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
(in thousands of $)Share CapitalAdditional Paid-in Capital
Contributed Surplus (1)
Accumulated Other Comprehensive Loss (2)
Accumulated Retained Earnings
Total before Non- Controlling InterestNon-Controlling InterestTotal Equity
Balance at December 31, 2022 (Audited)
107,226 1,936,746 200,000 (5,811)262,063 2,500,224 399,950 2,900,174 
Net (loss)/income
— — — — (106,408)(106,408)20,749 (85,659)
Dividends— — — — (26,695)(26,695)(17,842)(44,537)
Employee stock compensation— 3,638 — — — 3,638 — 3,638 
Forfeiture of employee stock compensation— (73)— — — (73)— (73)
Restricted stock units198 (198)— — — — — — 
Proceeds from subscription of equity interest in Gimi MS Corporation (note 11)
— — — — — — 21,118 21,118 
Repurchase and cancellation of treasury shares(1,397)— — — (28,051)(29,448)— (29,448)
Other comprehensive income— — — 1,640 — 1,640 — 1,640 
Reacquisition of common units of Hilli LLC (note 11)
— (251,249)— — — (251,249)35,644 (215,605)
Balance at June 30, 2023106,027 1,688,864 200,000 (4,171)100,909 2,091,629 459,619 2,551,248 
(in thousands of $)Share CapitalAdditional Paid-in Capital
Contributed Surplus (1)
Accumulated Other Comprehensive Loss (2)
Accumulated Retained EarningsTotal before Non- Controlling InterestsNon-Controlling InterestsTotal Equity
Balance at December 31, 2023
(Audited)
104,578 1,691,128 200,000 (5,072)77,035 2,067,669 534,774 2,602,443 
Net income
— — — — 81,127 81,127 20,598 101,725 
Dividends— — — — (51,971)(51,971)(4,737)(56,708)
Employee stock compensation— 4,174 — — — 4,174 — 4,174 
Forfeiture of employee stock compensation— (102)— — — (102)— (102)
Restricted stock units87 (87)— — — — — — 
Exercise of share options
17 325 — — — 342 — 342 
Proceeds from subscription of equity interest in Gimi MS Corporation (note 11)
— — — — — — 27,278 27,278 
Repurchase and cancellation of treasury shares(679)— — — (13,501)(14,180)— (14,180)
Other comprehensive loss
— — — (963)— (963)— (963)
Balance at June 30, 2024
104,003 1,695,438 200,000 (6,035)92,690 2,086,096 577,913 2,664,009 

(1) Contributed Surplus is “capital” that can be returned to stockholders without the need to reduce share capital, thereby giving us greater flexibility when it comes to declaring dividends.

(2) As at June 30, 2024 and 2023, our accumulated other comprehensive loss consisted of (i) $5.0 million and $3.6 million losses in relation to our pension and post-retirement benefit plan and $1.0 million and (ii) $0.6 million for our share of equity method investment’s comprehensive losses, respectively.


The accompanying notes are an integral part of these unaudited consolidated financial statements.
18

GOLAR LNG LIMITED
CONDENSED NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

1.    GENERAL

Golar LNG Limited (the “Company” or “Golar”) was incorporated in Hamilton, Bermuda on May 10, 2001 for the purpose of acquiring the liquefied natural gas (“LNG”) shipping interests of Osprey Maritime Limited, which was owned by World Shipholding Limited.

Our operations have evolved from LNG shipping, floating regasification, combined cycle gas fired power plants to our current focus on floating liquefaction operations. We design, construct, own and operate marine infrastructure for the liquefaction of natural gas, storage and offloading of LNG. As of June 30, 2024, our fleet was comprised of two floating liquefaction natural gas vessels (“FLNGs”), the Hilli Episeyo (the “FLNG Hilli”) which is operational and Gimi (the “FLNG Gimi”), which is moored offshore Mauritania and Senegal, ready for connection to the upstream project infrastructure and two LNG carriers, of which the Fuji LNG has been earmarked as donor vessel for FLNG conversion.

We are listed on the Nasdaq under the ticker: “GLNG”.

As used herein and unless otherwise required by the context, the terms “Golar”, the “Company”, “we”, “our”, “us” and words of similar import refer to Golar or any one or more of its consolidated subsidiaries, or to all such entities.

2.    ACCOUNTING POLICIES

Basis of accounting

These unaudited consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). These unaudited consolidated financial statements do not include all of the disclosures required under U.S. GAAP in annual consolidated financial statements, and should be read in conjunction with our audited consolidated annual financial statements for the year ended December 31, 2023, which are included in our annual report on Form 20-F for the fiscal year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission on March 28, 2024.

Significant accounting policies

The accounting policies adopted in the preparation of these unaudited consolidated financial statements for the six months ended June 30, 2024 are consistent with those followed in the preparation of our audited consolidated financial statements for the year ended December 31, 2023, except for those discussed below and disclosed in note 3.

Contingencies

We may, from time to time, be involved in various legal proceedings, claims, lawsuits and complaints that arise in the ordinary course of business. We will recognize a contingent liability in our consolidated financial statements if the contingency has occurred at the balance sheet date and where we believe that the likelihood of loss was probable and the amount can be reasonably estimated. If we determine that the reasonable estimate of the loss is a range and there is no best estimate within the range, we will recognize the lower amount within the range. A contingent gain is only recognized when the amount is considered realized or realizable. Legal costs are expensed as incurred.

19


Use of estimates

The preparation of our consolidated financial statements requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the balance sheet date, and the reported amounts of revenue and expenses during the reporting period. We base our estimates, judgments and assumptions on our historical experience and on information that we believe to be reasonable under the circumstances at the time they are made. Estimates and assumptions about future events and their effects cannot be perceived with certainty and these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as our operating environment changes. Actual results could differ from these estimates. Estimates are used for, but are not limited to, determining the recoverability of our vessels and asset under development and the valuation of our oil and gas derivative instruments. In assessing the recoverability of our vessels’ carrying amounts, we make assumptions regarding estimated future cash flows, estimates in respect of residual values, charter rates, vessel operating expenses and drydocking requirements.


3.    RECENTLY ISSUED ACCOUNTING STANDARDS

Adoption of new accounting standards

In June 2022, the FASB issued ASU 2022-03 Fair Value Measurement (Topic 820) - Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. We adopted this with effect from January 1, 2024. The adoption of ASU 2022-03 had no impact on our consolidated financial statements.

In November 2023, the FASB issued 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. We adopted this with effect from January 1, 2024. The adoption of ASU 2023-07 had no impact on our interim financial statements in 2024. We expect the impact of adoption of ASU 2023-07 to be limited to additional segment disclosures in our annual financial statements in 2024 and in our interim financial statements in 2025.

Accounting pronouncements that have been issued but not yet adopted

The following table provides a brief description of other recent accounting standards that have been issued but not yet adopted as of June 30, 2024:
StandardDescriptionDate of AdoptionEffect on our Consolidated Financial Statements or Other Significant Matters
ASU 2023-05 Business Combinations—Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement
Removes diversity in practice and requires certain joint ventures, upon formation to apply a new basis of accounting consistent with ASC 805 Business Combinations in the joint venturer’s separate financial statements. This guidance is effective for all joint ventures with a formation date on or after January 1, 2025; early adoption is permitted.

January 1, 2025No impact currently expected as a result of the adoption of this ASU.
ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax DisclosuresThese amendments enhance disclosures relating to income taxes, including the income tax rate reconciliation and information related to income taxes paid. The guidance is effective for us on January 1, 2025. Early adoption is permitted. January 1, 2025We are assessing the impact of this ASU. Upon adoption, if material, the impact will be limited to additional disclosure requirements in our annual financial statements in 2025.


20

4.    SEGMENT INFORMATION

We provide three distinct services and operate in the following three reportable segments: “FLNG”, “Corporate and other” and “Shipping” and our key performance indicator is Adjusted EBITDA. A reconciliation of net income to Adjusted EBITDA for the six months ended June 30, 2024 and 2023 is as follows:
(in thousands of $)20242023
Net income/(loss)
101,725 (85,659)
Income taxes
278 1,697 
Income/(loss) before income taxes
102,003 (83,962)
Depreciation and amortization26,256 25,027 
Impairment of long-lived assets
— 5,021 
Unrealized loss on oil and gas derivative instruments (note 7)
13,902 191,657 
Realized and unrealized mark-to-market losses on investment in listed equity securities
(note 8)
— 62,308 
Other non-operating income, net (note 8)— (9,823)
Interest income(18,582)(23,318)
Interest expense— 972 
Gains on derivative instruments, net (note 9)(6,309)(2,297)
Other financial items, net (note 9)2,694 1,375 
Net losses from equity method investments (note 15)
2,339 296 
Net income from discontinued operations
— (293)
Adjusted EBITDA122,303 166,963 

Our three distinct reportable segments are as follows:
•FLNG – This segment includes the operations of our FLNG vessels or projects. We convert LNG carriers into FLNG vessels or build new FLNG vessels and subsequently contract them to third parties. We currently have one operational FLNG, the FLNG Hilli, and one FLNG moored at the GTA field offshore Mauritania and Senegal, the FLNG Gimi, which is awaiting connection to upstream infrastructure (note 14).
•Corporate and other – This segment includes our vessel management, floating storage and regasification unit (“FSRU”) services for third parties, administrative services to affiliates and third parties, our corporate overhead costs and other strategic investments.
•Shipping – This segment includes the transportation operations of our LNG carriers.

Six months ended June 30, 2024
(in thousands of $)FLNG
Corporate and other (1)
ShippingTotal results from continuing operations
Statement of Operations:
Total operating revenues112,488 10,830 6,330 129,648 
Vessel operating expenses
(41,549)(10,193)(5,394)(57,136)
Voyage, charterhire and commission expenses, net
— (33)(3,448)(3,481)
Administrative expenses
(437)(12,472)(18)(12,927)
Project development expenses
(2,385)(1,952)(1)(4,338)
Realized gain on oil and gas derivative instruments, net (note 7)
70,537 — — 70,537 
Adjusted EBITDA138,654 (13,820)(2,531)122,303 
Net losses from equity method investments (note 15)
— (2,339)— (2,339)
21

(1) Includes inter-segment eliminations arising from vessel and administrative management fees revenue between segments.

Balance Sheet:June 30, 2024
(in thousands of $)FLNGCorporate and otherShippingTotal assets
Total assets (1)
3,320,004 669,869 131,145 4,121,018 
Equity method investments (note 15)
— 50,153 — 50,153 
(1) In March 2024, we acquired the Fuji LNG, the donor vessel for Mark II FLNG (“Mark II”) for $77.5 million and consequently reclassified the deposit of $15.5 million from “Other non-current assets” (note 16) to “Vessels and equipment, net”. The Fuji LNG is currently presented under the Shipping segment as she is currently trading as an LNG carrier.

Six months ended June 30, 2023
(in thousands of $)FLNG
Corporate and other (1)
ShippingTotal results from continuing operations
Statement of Operations:
Total operating revenues116,594 24,044 10,860 151,498 
Vessel operating expenses
(31,512)(9,670)(2,100)(43,282)
Voyage, charterhire and commission expenses, net
(300)(19)(141)(460)
Administrative (expenses)/income
(92)(17,979)9 (18,062)
Project development expenses
(2,237)(34,713)— (36,950)
Realized gain on oil and gas derivative instruments, net (note 7)
103,903 — — 103,903 
Other operating income (note 5)
2,499 7,817 — 10,316 
Adjusted EBITDA188,855 (30,520)8,628 166,963 
Net (loss)/income from equity method
investments (note 15)
— (2,610)2,314 (296)
(1) Includes inter-segment eliminations arising from vessel and administrative management fees revenue between segments.
Balance Sheet:December 31, 2023
(in thousands of $)FLNGCorporate and otherShippingTotal assets
Total assets3,160,457 866,088 57,442 4,083,987 
Equity method investments (note 15)
— 53,982 — 53,982 

22

5.    REVENUE

The following table represents a disaggregation of revenue earned from contracts with external customers during the six months ended June 30, 2024 and 2023. Liquefaction services revenue is included under our “FLNG” segment while Vessel management fees and other revenues under our “Corporate and other” segment.
Six months ended June 30,
(in thousands of $)20242023
Base tolling fee (1)
102,251 102,251 
Amortization of deferred commissioning period revenue (2)
2,054 2,043 
Amortization of Day 1 gains (3)
6,253 6,219 
Accrued overproduction revenue (4)
— 4,074 
Incremental base tolling fee (5)
2,500 2,500 
Other (6)
(570)(493)
Liquefaction services revenue
112,488 116,594 
Management fees revenue (7)
10,617 10,114 
Service revenue (8)
— 13,798 
Other revenues
213 132 
Vessel management fees and other revenues
10,830 24,044 
(1) The LTA bills at a base rate in periods when the oil price is $60 or less per barrel, and at an increased rate when the oil price is greater than $60 per barrel. The oil price above the base rate is recognized as a derivative and included in “Realized and unrealized (loss)/gain on oil and gas derivative instruments” in the unaudited consolidated statements of operations (note 7).

(2) Customer billing during the commissioning period, prior to vessel acceptance and commencement of the contract term was deferred (notes 18 and 19) and recognized evenly over the term of the LTA.

(3) Day 1 gains result from amount established on the initial recognition of the FLNG Hilli’s oil derivative instrument embedded in the LTA and the FLNG Hilli’s gas derivative instruments pursuant to the third amendment to the LTA (“LTA Amendment 3”) (notes 18 and 19). These amounts were deferred on initial recognition and amortized evenly over the contract term.

(4) In March 2021, we signed an agreement with the Customer (the “LTA Amendment 2”), to change the contract term from one linked to fixed capacity of 500.0 billion cubic feet to one of a fixed term, terminating on July 18, 2026. This amendment also permits billing adjustments for amounts over or under the annual contracted capacity in a given contract year (“overproduction” or “underutilization”, respectively), commencing from contract year 2019. Amounts for overproduction were invoiced at the end of a given contract year, while amounts for underutilization (which is capped per contract year) will be a reduction against our final invoice to the Customer at the end of the LTA in July 2026.

For the six months ended June 30, 2023, we estimated $6.6 million of overproduction variable consideration. Pursuant to the fourth amendment to the LTA, we agreed with the Customer to increase contract year 2023 annual contracted capacity to offset the 2022 underproduction. The recognition was bifurcated between “Liquefaction services revenue” and “Other operating income” financial statement line items, of $4.1 million and $2.5 million, respectively. There were no comparable amounts for the six months ended June 30, 2024.

(5) In 2021, we entered into LTA Amendment 3 which increased the annual capacity utilization of FLNG Hilli by 0.2 million tonnes of LNG, for the 2022 contract year. In July 2022, the Customer exercised its option pursuant to LTA Amendment 3 for 0.2 million tonnes (out of 0.4 million tonnes) from January 2023 to the end of the LTA. The combined effect results in annual contracted base capacity of 1.4 million tonnes of LNG from January 1, 2022 to the end of the LTA. The tolling fee is linked to TTF and the Euro/U.S. Dollar foreign exchange movements. The contractual floor rate is recognized in “Liquefaction services revenue” and the tolling fee above the contractual floor rate is recognized as a derivative in “Realized and unrealized (loss)/gain on oil and gas derivative instruments,” in the unaudited consolidated statements of operations (note 7).

(6) “Other” comprised of: (i) accrued demurrage costs of $0.3 million and $0.2 million for the six months ended June 30, 2024 and 2023, respectively, which we recognized in the period in which the delay occurred; and (ii) release of deferred liquidated damages recognized prior to the commencement of the LTA of $0.3 million and $0.3 million for the six months ended June 30, 2024 and 2023, respectively.

(7) Comprised of revenue earned from various ship management, administrative and vessel operation and maintenance services we provide to external customers.

23

(8) In August 2022, we entered into a development agreement with Snam to provide drydocking, site commissioning and hook-up services for the Italis LNG (formerly known as Golar Tundra) (the “Development Agreement”), which it acquired from us in May 2022. The Development Agreement includes contractual fixed payments recognized over the period of time that we provide the services to Snam. We completed the Development Agreement in May 2023 and recognized services revenue of $13.8 million during the six months ended June 30, 2023.

Contract Assets and Liabilities

The following table represents our contract assets and liabilities balances as of:

(in thousands of $)June 30, 2024December 31, 2023
Contract assets
21,212 21,403 
Current contract liabilities
(4,220)(4,220)
Non-current contract liabilities
(4,222)(6,276)
Total contract liabilities (1)
(8,442)(10,496)

(in thousands of $)June 30, 2024December 31, 2023
Opening contract liability balance (2)(3)
(10,496)(62,416)
Deferral of revenue (4)
— (2,325)
Recognition of unearned revenue (1)(2)
2,054 44,104 
Recognition of deferred revenue (3)(4)
— 10,141 
Closing contract liability balance(8,442)(10,496)

(1) Included within “Total contract liabilities” is the deferred commissioning revenue in relation to the FLNG Hilli of $8.4 million as of June 30, 2024 (December 31, 2023: $10.5 million) (note 18 and 19). We expect to recognize liquefaction services revenue related to the partially unsatisfied performance obligation at the reporting date evenly over the remaining LTA contract term of two years.

(2) Due to a production shortfall of the FLNG Hilli for the 2022 contract year, we recognized a non-current contract liability for underutilization of $35.8 million which was fully unwound in 2023 following delivery of contract year 2023 annual LNG production.

(3) Pursuant to the Arctic SPA, upon receipt of a notice to proceed, we were to convert LNG carrier Golar Arctic to an FSRU which would lead to her eventual sale to Snam. The Arctic SPA included contractual fixed payments (recognized over the period of time that we would have provided the services to Snam). In June 2023, Snam’s option to issue the notice to proceed lapsed and in accordance with the Arctic SPA, we retained and recognized the first advance payment of $7.8 million and presented in “Other operating income” in the unaudited consolidated statements of operations.

(4) Included in “deferral of revenue” as of December 31, 2023 in the reconciliation of contract liabilities table above, is the deposit of $2.3 million received for the sale of the Gandria in May 2023, which subsequently completed in November 2023.

6.    EARNINGS/(LOSS) PER SHARE

Basic earnings/(loss) per share “EPS/(LPS)” is calculated with reference to the weighted average number of common shares outstanding during the period.

The components of the numerator for the calculation of basic and diluted EPS/(LPS) are as follows:
Six months ended June 30,
(in thousands of $)20242023
Net income/(loss) net of non-controlling interests - continuing operations - basic and diluted
81,127 (106,701)
Net income net of non-controlling interests - discontinued operations - basic and diluted
— 293 




24

The components of the denominator for the calculation of basic and diluted EPS/(LPS) are as follows:
Six months ended June 30,
(in thousands of $)20242023
Basic:
Weighted average number of common shares outstanding104,278 107,337 
Dilutive:
Dilutive impact of share options and RSUs (1)
724 618 
Weighted average number of common shares outstanding105,002 107,955 

EPS/(LPS) per share are as follows:
Six months ended June 30,
20242023
Basic EPS/(LPS) from continuing operations
$0.78 $(0.99)
Diluted EPS/(LPS) from continuing operations (1)
$0.77 $(0.99)
Basic and diluted EPS from discontinued operations
$— 0.00
(1) The effects of stock awards have been excluded from the calculation of diluted LPS from continuing operations for the six months ended June 30, 2023 because the effects were anti-dilutive.

7. REALIZED AND UNREALIZED GAIN/(LOSS) ON OIL AND GAS DERIVATIVE INSTRUMENTS

The realized and unrealized gain/(loss) on the oil and gas derivative instruments is comprised of the following:    
Six months ended June 30,
20242023
Realized gain on FLNG Hilli’s oil derivative instrument
36,656 36,156 
Realized mark-to-market (“MTM”) adjustment on commodity swap derivatives
24,719 42,066 
Realized gain on FLNG Hilli’s gas derivative instrument
9,162 25,681 
Realized gain on oil and gas derivative instruments, net
70,537 103,903 
Unrealized gain/(loss) on FLNG Hilli’s oil derivative instrument (note 16)
15,092 (74,840)
Unrealized loss on FLNG Hilli’s gas derivative instrument (note 16)
(5,294)(94,642)
Unrealized MTM adjustment on commodity swap derivatives (23,700)(22,175)
Unrealized loss on oil and gas derivative instruments
(13,902)(191,657)
Realized and unrealized gain/(loss) on oil and gas derivative instruments
56,635 (87,754)

The realized gain/(loss) on oil and gas derivative instruments results from monthly billings above the FLNG Hilli base tolling fee and the incremental capacity increase pursuant to respective LTA amendments, whereas the unrealized gain/(loss) on oil and gas derivative instruments results from movements in forecasted oil and natural gas prices and Euro/U.S. Dollar exchange rates.
25


8. OTHER NON-OPERATING LOSSES

Other non-operating losses are comprised of the following:
Six months ended June 30,
20242023
Realized and unrealized MTM losses on investment in listed equity securities (1)
— (62,308)
Dividend income from our investment in listed equity securities
— 9,823 
Other non-operating losses
— (52,485)

(1) During the six months ended June 30, 2023, we sold 1.2 million shares of Class A NFE common shares (“NFE Shares”) at a price range between $36.90 and $40.38 per share for an aggregate consideration of $45.6 million which resulted to $62.3 million realized MTM losses. We also disposed of our remaining 4.1 million NFE Shares that were applied as partial consideration for the repurchase of 1,230 common units in Golar Hilli LLC “Hilli LLC” from NFE, which NFE acquired pursuant to the sale of our investment in Golar LNG Partners LP (“Golar Partners”) to NFE in April 2021. Following these transactions, we no longer hold any listed equity securities.


9.     GAINS ON DERIVATIVE INSTRUMENTS AND OTHER FINANCIAL ITEMS, NET

Gains on derivative instruments, net are comprised of the following:
(in thousands of $)Six months ended June 30,
20242023
Net interest income on undesignated interest rate swap (“IRS”) derivatives
4,555 3,750 
Unrealized MTM adjustment for IRS derivatives1,754 (1,453)
Gains on derivative instruments, net6,309 2,297 

Other financial items, net is comprised of the following:
(in thousands of $)Six months ended June 30,
20242023
Amortization of debt guarantees (1)
827 1,034 
Foreign exchange gain/(loss) on operations
460 (1,427)
Financing arrangement fees and other related costs (2)
(3,768)(799)
Others(213)(183)
Other financials items, net(2,694)(1,375)
(1) “Amortization of debt guarantees” relates to guarantee fees earned for the provision of (i) charter guarantees to Energos and (ii) debt guarantees for certain of CoolCo's outstanding sale and leaseback debts amounting to $159.6 million.
(2) Included within “Financing arrangement fees and other related costs” for the six months ended June 30, 2024 is $3.7 million financial charges incurred by the FLNG Hilli's lessor VIE.

26

10.    OPERATING LEASES

Rental income

The components of operating lease income were as follows:
Six months ended June 30,
(in thousands of $)20242023
Operating lease income3,581 10,860 
Variable lease income (1)
2,749 — 
Total operating lease income (2)
6,330 10,860 
(1) “Variable lease income” is excluded from lease payments that comprise the minimum contractual future revenues from non-cancellable operating leases.
(2) Total operating lease income is presented in the unaudited consolidated statement of operations line item “Time and voyage charter revenues.”

11.     VARIABLE INTEREST ENTITIES (“VIEs”)

11.1 Lessor VIE

As of June 30, 2024, we leased one (December 31, 2023: one) vessel from China State Shipbuilding Corporation entity (“CSSC entity”) as part of a sale and leaseback agreement. The CSSC entity is a special purpose vehicle owned by a third party (“Lessor SPV”) that we are required to consolidate under US GAAP. In this transaction, we sold our vessel, the FLNG Hilli and then subsequently leased back the vessel on a bareboat charter for an initial term of ten years. In June 2023, we entered into the fourth side letter to FLNG Hilli’s sale and leaseback facility which amended the reference rate to a Secured Overnight Financing Rate (“SOFR”) from London Interbank Offered Rate (“LIBOR”), reduced the margin and extended the tenor of the facility by 5 years to 2033. These amendments did not impact our total bareboat obligations. We still have the option to repurchase the vessel at a fixed predetermined amount during i2ts charter period and an obligation to repurchase the vessel at the end of the vessel’s lease period. 
 
A summary of our payment obligations (excluding repurchase options and obligations) under the bareboat charter with the lessor VIE as of June 30, 2024, is shown below:

(in thousands of $)
2024(1)
202520262027
2028
2029+
Hilli (2)
42,09582,20179,07776,04372,830274,766
(1) For the six months ending December 31, 2024.

(2) The payment obligations above include contractual capital and variable rental payments due under the lease.

The assets and liabilities of the lessor VIE that most significantly impact our unaudited consolidated balance sheet as of June 30, 2024 and December 31, 2023, are as follows:

(in thousands of $)June 30, 2024December 31, 2023
Assets
Restricted cash and short-term deposits17,590 18,085 
Liabilities
Total debt (1):
(350,752)(393,193)
Current portion of long-term debt and short-term debt
(287,223)(299,576)
Long-term debt
(63,529)(93,617)
(1) Where applicable, these balances are net of deferred finance charges.
The most significant impact of the lessor VIE’s operations on our unaudited consolidated statements of operations and unaudited consolidated statements of cash flows for the six months ended June 30, 2024 and 2023 are as follows:
27


(in thousands of $)20242023
Continuing operations
Statement of operations
Other financial items, net (note 9)
3,749 — 
Interest expense10,381 5,273 
Statement of cash flows
Net debt repayments(42,670)(52,359)
Financing costs paid— (3,150)

11.2    Golar Hilli LLC

Hilli LLC owns Golar Hilli Corp. (“Hilli Corp”), the disponent owner of FLNG Hilli. The ownership interests in Hilli LLC are represented by three classes of units: the Hilli Common Units, the Series A Special Units and the Series B Special Units. We are the managing member of Hilli LLC and are responsible for all operational, management and administrative decisions relating to Hilli LLC’s business. We have retained sole control over the most significant activities and the greatest exposure to variability in residual returns and expected losses from the FLNG Hilli and, as a result, we concluded that Hilli LLC is a VIE, that we are the primary beneficiary and that we consolidate both Hilli LLC and Hilli Corp.

As of June 30, 2024 and December 31, 2023, the ownership structure of Hilli LLC is as follows:

Percentage ownership interest
Hilli Common UnitsSeries A Special UnitsSeries B Special Units
Golar LNG Limited94.6 %89.1 %89.1 %
Seatrium5.0 %10.0 %10.0 %
B&V0.4 %0.9 %0.9 %
Summarized financial information of Hilli LLC

The assets and liabilities of Hilli LLC(1) that most significantly impact our unaudited consolidated balance sheets are as follows:

(in thousands of $)June 30, 2024December 31, 2023
Balance sheet
Current assets83,927 70,461 
Non-current assets1,198,071 1,212,922 
Current liabilities(341,173)(342,480)
Non-current liabilities(86,889)(125,094)
(1) Balances are inclusive of the Hilli Lessor VIE.

The most significant impact of the lessor VIE’s operations on our unaudited consolidated statements of operations and unaudited consolidated statements of cash flows for the six months ended June 30, 2024 and 2023 are as follows:

(in thousands of $)20242023
Statement of operations
Liquefaction services revenue112,488 116,594 
Realized and unrealized gain/(loss) on oil and gas derivative instruments
56,635 (87,754)
28

(in thousands of $)20242023
Statement of changes in equity
Additional paid-in capital (1)
— (251,249)
Non-controlling interest— 35,644 
Statement of cash flows
Reacquisition of common units in Hilli LLC— (100,047)
Net debt repayments(42,670)(52,359)
Financing costs paid— (3,150)
Cash dividends paid(4,737)(17,842)
(1) In March 2023, we repurchased the 1,230 Hilli Common Units, held by Golar Partners from NFE which represents an increase in our ownership interest in Hilli LLC while control is retained. Consequently, a loss of $251.2 million was recorded in equity.

11.3    Gimi MS Corporation

Following the closing of the sale of 30% of the common shares of Gimi MS Corporation (“Gimi MS”) to First FLNG Holdings in April 2019, we have determined that (i) Gimi MS is a VIE and (ii) we are the primary beneficiary and retain sole control over the most significant activities and the greatest exposure to variability in residual returns and expected losses from the Gimi. Thus, Gimi MS continues to be consolidated into our financial statements.

Summarized financial information of Gimi MS

The assets and liabilities of Gimi MS that most significantly impact our unaudited consolidated balance sheets are as follows:

(in thousands of $)June 30, 2024December 31, 2023
Balance sheet
Current assets113,037 17,359 
Non-current assets1,731,916 1,702,148 
Current liabilities(205,493)(168,370)
Non-current liabilities(560,466)(585,678)

The most significant impact of Gimi MS VIE’s operations on our unaudited consolidated statements of cash flows for the six months ended June 30, 2024 and 2023 are as follows:

Six months ended June 30,
(in thousands of $)20242023
Statement of cash flows
Additions to asset under development88,965 138,102 
Capitalized financing costs(569)(1,156)
Net debt receipts— 85,000 
Proceeds from subscription of equity interest27,278 21,118 

29

12.     RESTRICTED CASH AND SHORT-TERM DEPOSITS

Our restricted cash and short-term deposits balances are as follows:
(in thousands of $)June 30, 2024December 31, 2023
Restricted cash in relation to the FLNG Hilli (1)
60,988 60,996 
Restricted cash and short-term deposits held by lessor VIE (2)
17,590 18,085 
Restricted cash relating to the LNG Hrvatska O&M Agreement (3)
12,404 12,083 
Restricted cash in relation to the FLNG Gimi (4)
1,949 — 
Restricted cash relating to office lease999 1,081 
Total restricted cash and short-term deposits93,930 92,245 
Less: Amounts included in current restricted cash and short-term deposits(19,539)(18,115)
Non-current restricted cash74,391 74,130 

(1) In November 2015, in connection with the issuance of a $400 million letter of credit (“LC”) by a financial institution to the Customer of the FLNG Hilli, we recognized an initial cash collateral of $305.0 million to support the FLNG Hilli performance guarantee. Under the provisions of the LC, the terms allow for a stepped reduction in the value of the guarantee over time and a corresponding reduction to the cash collateral requirements. In May 2021, the FLNG Hilli had achieved 3.6 million tonnes of LNG production, reducing the LC to $100.0 million and the cash collateral to $61.0 million as of June 30, 2024. The cash collateral is expected to be restricted until the end of the LTA term.

In November 2016, after we satisfied certain conditions precedent, the LC originally issued with an initial expiration date of December 31, 2018, was re-issued and automatically extends, on an annual basis, until the tenth anniversary of the acceptance date of the FLNG Hilli, unless the bank exercises its option to exit from the arrangement by giving a three months’ notice prior to the next annual renewal date.

(2) These are amounts held by lessor VIE that we are required to consolidate under U.S. GAAP into our financial statements (note 11).

(3) In connection with the LNG Hrvatska O&M Agreement, we are required to maintain two performance guarantees, one in the amount of $9.7 million (€9.1 million) and one in the amount of $1.3 million, both of which will remain restricted throughout the 10-year term until December 2030.

(4) In 2019, we entered into a $700 million facility agreement with a group of lenders to finance the conversion of the FLNG Gimi. Restricted cash requirements under the facility agreement provide additional security to the lenders before and post FLNG Gimi’s commercial operations date (“COD”). Pre-COD, all earnings are required to be restricted, however it can be released for debt service obligations subject to lenders' approval. Post-COD these earnings will be released through a waterfall mechanism, as stipulated in the debt facility agreement.


13.    OTHER CURRENT ASSETS

Other current assets consist of the following:
(in thousands of $)June 30, 2024December 31, 2023
MTM asset on TTF linked commodity swap derivatives (note 20)
24,378 48,079 
Interest receivable from money market deposits and bank accounts (note 20)
4,059 3,929 
Prepaid expenses3,322 2,292 
Inventories
2,557 1,990 
Receivable from IRS derivatives2,340 2,461 
MTM asset on IRS derivatives (note 20)
2,089 2,697 
Receivable from TTF linked commodity swap derivatives— 7,581 
Others (1)
107,720 2,968 
Other current assets146,465 71,997 
(1) Included within “Others” as of June 30, 2024 is the reclassification of the pre-commissioning net contractual cash flow in relation to the Gimi LOA of $92.6 million from “Other non-current assets” in alignment with the FLNG Gimi’s expected COD in mid-2025.

30

14.    ASSET UNDER DEVELOPMENT
(in thousands of $)June 30, 2024December 31, 2023
Opening asset under development balance1,562,828 1,152,032 
Additions85,363 338,327 
Interest costs capitalized44,663 72,469 
Closing asset under development balance1,692,854 1,562,828 

14.1. Gimi conversion financing

The aggregate conversion cost including financing costs is approximately $1.7 billion of which $700.0 million is funded by the Gimi facility (note 18). As of June 30, 2024, the estimated timing of the outstanding payments is as follows:
(in thousands of $)
Period ending December 31,
2024 (1)
175,937 
2025
53,565 
Total229,502 
(1) For the six months ending December 31, 2024.

14.2. Gimi LOA

In February 2019, Gimi MS entered into a Lease and Operate Agreement with BP Mauritania Investments Limited (“bp”), Gimi MS and our subsidiary Golar MS Operator S.A.R.L. (the “LOA”) which was subsequently amended on August 3, 2024 (note 23). The LOA provides for the construction and conversion of LNG carrier Gimi to a FLNG, transit, mooring and connection to the upstream project infrastructure (of which bp is the appointed operator), commissioning with the upstream facilities including its floating production, storage and offloading vessel, completing specified acceptance tests, followed by 20 years of commercial operations, commencing on COD.

FLNG Gimi’s departure from the shipyard was postponed from March 2023 to November 2023 to allow for further vessel completion, pre-commissioning and testing work to be completed in the shipyard prior to departure, considering that skills and resources were more accessible in Singapore at the time. FLNG Gimi arrived at the GTA Hub's operating boundary on January 10, 2024 and was securely moored to the Hub on February 20, 2024.

We and bp are required to meet various contractual delivery schedules with delays resulting in contractual prepayments between the parties in advance of COD. Following COD, we will operate and maintain FLNG Gimi and make her capacity exclusively available for the liquefaction of natural gas from the GTA Project and offloading of LNG produced for a period of twenty years. Post COD, the contractual dayrate is comprised of capital and operating elements.

14.3. Gimi LOA pre-commissioning contractual cash flows

As a result of project delays, pre-commissioning contractual cash flows commenced in March 2023 and as of June 30, 2024, Gimi MS recognized $92.6 million of net amounts paid to bp (note 13).

The ongoing contract interpretation dispute regarding certain of these pre-commissioning contractual cash flows continues, regarding amounts payable by bp to Gimi MS. As of June 30, 2024, we remained of the view that Gimi MS is due Project Delay Payments (“PDPs”) from May 2023 from bp, which bp have disputed. To facilitate a mutual resolution, Gimi MS followed the dispute resolution provisions included in the LOA and thereafter initiated arbitration proceedings in respect of the PDPs in August 2023. We consider the contractual PDPs receivable from bp as a contingent gain and no amounts are recognized in our consolidated financial statements as of June 30, 2024. Any amount we may recover will not be reflected in our consolidated financial statements until such time as our claim has been resolved and the amount is realized or realizable. Refer to note 23 for the amended pre-COD contractual cash flows agreed pursuant to the LOA Amendment Deed.

31

15.     EQUITY METHOD INVESTMENTS
Six months ended June 30,
(in thousands of $)20242023
Share of net losses of Avenir LNG Limited (“Avenir”)
(2,503)(2,879)
Share of net income of CoolCo— 1,491 
Share of net income of other equity method investments682 269 
(Loss)/gain on disposal (1)
(518)823 
Net losses from equity method investments
(2,339)(296)

The carrying values of our equity method investments as of June 30, 2024 and December 31, 2023 are as follows:

(in thousands of $)June 30, 2024December 31, 2023
Avenir
34,152 35,729 
Logística e Distribuição de Gás S.A. (“LOGAS”)
8,340 9,261 
Egyptian Company for Gas Services S.A.E (“ECGS”)
5,509 5,237 
Aqualung Carbon Capture AS (“Aqualung”)
2,152 2,244 
MGAS Comercializadora de Gás Natural Ltda. (“MGAS”) (2)
— 1,511 
Equity method investments50,153 53,982 
(1) In March 2023, we sold 4.5 million of our CoolCo shares at NOK 130/$12.60 per share for net consideration of $56.1 million, inclusive of $0.1 million fees. As of June 30, 2024, following the sale of our CoolCo shares, we retain one common share in CoolCo which is required by debt covenants relating to the guarantees we continue to provide CoolCo. The gain on disposal of $0.8 million is included in the unaudited consolidated statement of operations line-item “Net income/(losses) from equity method investments.”

(2) In May 2024, Macaw Energies Brasil Servicos de Gás Natural Ltda, our wholly owned subsidiary, completed the disposal of its 51% equity interest in MGAS for a consideration of $0.8 million (BRL4.25 million). The loss on disposal of $0.5 million is included in the unaudited consolidated statement of operations line-item “Net income/(losses) from equity method investments.”

16.     OTHER NON-CURRENT ASSETS

Other non-current assets are comprised of the following:
(in thousands of $) June 30, 2024December 31, 2023
Pre-operational assets (1)
223,557 189,023 
Oil derivative instrument (note 20)
121,040 105,948 
Gas derivative instrument (note 20)
48,368 53,663 
MTM asset on IRS derivatives (note 20)
39,053 36,690 
Operating lease right-of-use-assets (2)
7,895 7,386 
Others (3)
1,376 107,096 
Other non-current assets441,289 499,806 
(1) As of June 30, 2024, “Pre-operational assets” comprised of:
•MKII FLNG project capitalized engineering costs, long lead items and deposit for a donor vessel of $77.2 million, $138.3 million and $nil, respectively (December 31, 2023: $59.4 million, $109.8 million and $15.5 million, respectively). The donor vessel, Fuji LNG, was acquired on March 4, 2024 for total consideration of $77.5 million. Consequently, the deposit for the donor vessel of $15.5 million was reclassified from “Other non-current assets” to “Vessels and equipment, net” of the unaudited consolidated balance sheets.
•F2X project capitalized engineering and other directly attributable costs of $8.0 million (December 31, 2023: $4.4 million).
(2) “Operating lease right-of-use-assets” mainly comprised of our office leases in London and Oslo.
(3) Included within “Others” as of June 30, 2024 and December 31, 2023 are pre-commissioning contractual cash flows in relation to the Gimi LOA of $nil and $105.4 million, respectively. As mentioned in note 13, the reclassification of the pre-commissioning net contractual cash flow to “Other current assets” was in alignment with the FLNG Gimi’s expected COD in mid-2025.
.
32

17.    DEBT

As of June 30, 2024 and December 31, 2023, our debt was as follows:
(in thousands of $)June 30, 2024December 31, 2023
Gimi facility (note 14.1)
(630,000)(630,000)
Unsecured Bonds
(199,905)(199,869)
Golar Arctic facility
(10,943)(14,589)
Subtotal (excluding lessor VIE debt)(840,848)(844,458)
CSSC VIE debt - FLNG Hilli facility (1)
(353,455)(396,125)
Total debt (gross)(1,194,303)(1,240,583)
Less: Deferred financing costs
20,711 23,853 
Total debt, net of deferred financing costs(1,173,592)(1,216,730)

At June 30, 2024, our debt, net of deferred financing costs, is broken down as follows:
Golar debt
VIE debt (2)
Total debt
(in thousands of $) 
Current portion of long-term debt and short-term debt(66,111)(287,223)(353,334)
Long-term debt(756,729)(63,529)(820,258)
Total(822,840)(350,752)(1,173,592)
(1) These amounts relate to a certain lessor entity (for which legal ownership resides with a financial institution) that we are required to consolidate into our financial statements as a VIE (note 11).

18.     OTHER CURRENT LIABILITIES

Other current liabilities are comprised of the following:
(in thousands of $)June 30, 2024December 31, 2023
Day 1 gain deferred revenue - current portion (1) (note 19)
(12,783)(12,783)
Deferred revenue(4,220)(4,220)
Current portion of operating lease liability(1,548)(1,462)
Other payables (2)
(6,458)(32,485)
Other current liabilities(25,009)(50,950)
(1) Current portion of Day 1 gain deferred on initial recognition of the oil and gas derivative instruments embedded in the LTA (note 5). As of June 30, 2024, the Day 1 gain deferred revenue - current portion relating to FLNG Hilli’s oil and gas derivative instruments is $10.0 million and $2.8 million, respectively (December 31, 2023: $10.0 million and $2.8 million).
(2) Included in “Other payables” as of June 30, 2024 and December 31, 2023 is pre-commissioning contractual cash flow in relation to the Gimi LOA of $nil and $30.5 million respectively (note 14).

33

19.     OTHER NON-CURRENT LIABILITIES

Other non-current liabilities are comprised of the following:
(in thousands of $)June 30, 2024December 31, 2023
Pension obligations(21,999)(23,471)
Day 1 gain deferred revenue (1)
(12,926)(19,179)
Non-current portion of operating lease liabilities(6,212)(5,881)
Deferred commissioning period revenue (2)
(4,222)(6,276)
Other payables (3)
(6,971)(6,793)
Other non-current liabilities(52,330)(61,600)
(1) Non-current portion of Day 1 gain deferred on initial recognition of the oil and gas derivative instruments embedded in the LTA (note 7). As of June 30, 2024, the non-current portion of the Day 1 gain deferred revenue relating to FLNG Hilli’s oil and gas derivative instruments is $10.0 million and $2.9 million, respectively (December 31, 2023: $14.8 million and $4.4 million).

(2) The Customer’s billing during the commissioning period, prior to vessel acceptance and commencement of the LTA, which is considered an upfront payment for services. These amounts billed are recognized as part of “Liquefaction services revenue” in the unaudited consolidated statements of operations evenly over the LTA contract term, with this commencing on the Customer’s acceptance of the FLNG Hilli. The current portion of deferred commissioning period billing is included in “Other current liabilities” (note 18).

(3) Included in “Other payables” as of June 30, 2024 and December 31, 2023 is an asset retirement obligation of $6.2 million and $6.0 million, respectively. The corresponding mooring asset of $4.7 million is recorded within “Vessels and equipment, net” in the unaudited consolidated balance sheets.

20.     FINANCIAL INSTRUMENTS

Fair values
We recognize our fair value estimates using a fair value hierarchy based on the inputs used to measure fair value. The fair value hierarchy has three levels based on reliability of inputs used to determine fair value as follows:

Level 1: Quoted market prices in active markets for identical assets and liabilities.
Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.
Level 3: Unobservable inputs that are not corroborated by market data.

The carrying values and estimated fair values of our financial instruments at June 30, 2024 and December 31, 2023 are as follows:

June 30, 2024December 31, 2023
(in thousands of $)Fair value
hierarchy		Carrying valueFair valueCarrying valueFair value
Non-Derivatives:
Cash and cash equivalents (1) (2)
Level 1527,591 527,591 679,225 679,225 
Restricted cash and short-term deposits (1)
Level 193,930 93,930 92,245 92,245 
Trade accounts receivable (3)
Level 131,511 31,511 38,915 38,915 
Interest receivable from money-market deposits and bank accounts (3)
Level 14,059 4,059 3,929 3,929 
Receivable from TTF linked commodity swap derivatives (3)
Level 1— — 7,581 7,581 
Receivable from IRS derivatives (3)
Level 12,340 2,340 2,461 2,461 
Trade accounts payable (3)
Level 1(88,985)(88,985)(7,454)(7,454)
Current portion of long-term debt and short-term debt (3) (4) (5)
Level 2(356,931)(356,931)(343,781)(343,781)
Long-term debt (4) (5)
Level 2(637,467)(637,467)(696,933)(696,933)
Long-term debt - Unsecured Bonds (4) (6)
Level 1(199,905)(199,184)(199,869)(197,906)
34

June 30, 2024December 31, 2023
(in thousands of $)Fair value
hierarchy		Carrying valueFair valueCarrying valueFair value
Derivatives:
Oil and gas derivative instruments (7)
Level 2169,408 169,408 159,611 159,611 
Asset on IRS derivatives (8)
Level 241,142 41,142 39,387 39,387 
Asset on TTF linked commodity swap derivatives (8)
Level 224,378 24,378 48,079 48,079 

(1) These instruments carrying value are highly liquid and deemed reasonable estimates of fair value.

(2) Included within cash and cash equivalents of $527.6 million and $679.2 million are $445.9 million and $481.7 million held in short-term money-market deposits as of June 30, 2024 and December 31, 2023, respectively. During the six months ended June 30, 2024 and 2023, we earned interest income on short-term money-market deposits of $13.4 million and $17.8 million, respectively.

(3) These instruments are considered to be equal to their estimated fair value because of their near term maturity.

(4) Our debt obligations are recorded at amortized cost. The amounts presented in the table above are gross of the deferred financing costs of $20.7 million and $23.9 million at June 30, 2024 and December 31, 2023, respectively.

(5) The estimated fair values for both the floating long-term debt and short-term debt are considered to be equal to the carrying value since they bear variable interest rates, which are adjusted on a quarterly basis.  

(6) The estimated fair values of our Unsecured Bonds are based on their quoted market prices as of the balance sheet date.

(7) The fair value of the oil and gas derivative instruments is determined using the estimated discounted cash flows of the additional payments due to us as a result of oil and gas prices moving above the contractual floor price over the remaining term of the LTA. Significant inputs used in the valuation of the oil and gas derivative instruments include the Euro/U.S. Dollar exchange rates based on the forex forward curve for the gas derivative instrument and management’s estimate of an appropriate discount rate and the length of time necessary to blend the long-term and short-term oil and gas prices obtained from quoted prices in active markets.

(8) The fair value of certain derivative instruments is the estimated amount that we would receive or pay to terminate the agreements at the balance sheet date, taking into account current interest rates, foreign exchange rates, closing quoted market prices and our creditworthiness and that of our counterparties. The credit exposure of certain derivative instruments is represented by the fair value of contracts with a positive value at the end of each period, reduced by the effects of master netting arrangements.

As of June 30, 2024, we were party to the following interest rate swap transactions involving the payment of fixed rates in exchange for SOFR as summarized below:

Instrument
Notional value (in thousands of $)
Maturity datesFixed interest rates
Interest rate swaps:
  Receiving floating, pay fixed
538,958
March 2025 to November 2029
1.93% - 2.37%

Commodity price risk management

Although the LTA bills at a base rate of $60.00 per barrel over the contract term for 1.2 million tonnes out of the base capacity of 1.44 million tonnes of LNG, we bear no downside risk to the movement of oil prices should the oil price move below $60.00. Pursuant to LTA Amendment 3, the remaining 0.2 million tonnes of LNG is linked to the TTF index and the Euro/U.S. Dollar foreign exchange movements.

We have entered into commodity swaps to economically hedge our exposure to a portion of FLNG Hilli’s tolling fee that is linked to the TTF index, by swapping variable cash receipts that are linked to the TTF index for anticipated future production volumes with fixed payments from our TTF swap counterparties. We have entered into master netting agreements with our counterparties and are subject to nominal credit risk as these transactions are settled on a daily margin basis with investment-grade institutions.

35

InstrumentNotional quantity (MMBtu)Maturity dateFixed price/MMBtu
Commodity swap derivatives:   
Receiving fixed, pay floating806,502
2024
$51.20
Receiving floating, pay fixed806,502
2024
$20.55

21.    RELATED PARTY TRANSACTIONS

a) Transactions with existing related parties:

Amounts due from related parties as of June 30, 2024 and December 31, 2023 consisted of the following:

(in thousands of $)June 30, 2024December 31, 2023
Avenir
7,525 7,312 
Non-current amounts due from Avenir are comprised primarily of unpaid debt guarantee fees, a revolving shareholder loan and related interest and fees.
In 2021, we entered into a revolving shareholder loan which was extended to November 2025. The facility bears a fixed interest rate of 7%. As of June 30, 2024, the shareholder loan of $5.3 million is fully drawn and the total interest receivables amounted to $0.2 million and $0.1 million for the six months ended June 30, 2024 and 2023, respectively. Avenir also entered into agreements to compensate Golar in relation to the provision of certain debt guarantees relating to Avenir and its subsidiaries, amounting to $0.1 million and $0.1 million for the six months ended June 30, 2024 and 2023, respectively.

b) Transactions with former related parties

Following the sale of our CoolCo shares in March 2023, CoolCo ceased to be a related party and subsequent transactions with CoolCo and its subsidiaries were treated as third-party transactions and settled under normal payment terms.

Summarized below are the transactions with CoolCo and its subsidiaries for the period from January 1, 2023 to March 2, 2023:

(in thousands of $)
Period ended January 1, 2023 to March 2, 2023
Management and administrative services revenue
588 
Ship management fees expense
(333)
Debt guarantee fees
175 
Commitment fees
21 
Total451 


22.     OTHER COMMITMENTS AND CONTINGENCIES

Assets pledged
(in thousands of $)June 30, 2024December 31, 2023
Book value of vessels secured against loans (1)
1,126,078 1,075,018 
(1) This excludes the FLNG Gimi which is classified as “Assets under development” (note 14) and secured against its specific debt facility (note 17).

36

Capital Commitments

•FLNG conversion
We have agreed to contract terms for the conversion of a generic LNG carrier to an FLNG which is subject to certain payments and lodging of a full notice to proceed. We have also provided a guarantee to cover the sub-contractor’s obligations in connection with the conversion of the vessel. If we do not proceed with the conversion, we may be liable for certain termination payments.

•MKII FLNG
In 2022, our Board of Directors approved up to $328.5 million of capital expenditures for the MKII FLNG. As of June 30, 2024, we entered into agreements for engineering services and long lead items amounting to $108.2 million (note 16).

•Macaw F2X build
As of June 30, 2024, we entered into agreements for engineering services and long lead items amounting to $6.8 million (note 16).


23.    SUBSEQUENT EVENTS

Since June 30, 2024, the following non-recognized events have occurred:

•Gimi’s LOA Amendment Deed

On August 3, 2024, we entered into an LOA Amendment Deed to resolve the ongoing LOA contract interpretation dispute (the “Amendment Deed”). The Amendment Deed simplified the contractual cash flows and settled previous disputes related to payment mechanisms for pre-Commercial Operations Date (“pre-COD”) cashflows and re-aligns both Golar and bp towards the successful completion of the GTA Project and reaching COD. Consequentially, all existing disputes, including the arbitration process have been settled.

The Amendment Deed includes a step-up mechanism for daily payments, which are tied to project milestones pre-COD, secured by defined long-stop dates. Golar will also be entitled to receive lump sum bonus payments upon the achievement of specific project milestones. Under the terms of the Amendment Deed, Golar expects to receive approximately $220 million across 2024 and 2025 in pre-COD compensation inclusive of milestone bonuses, of which approximately $130 million will be invoiced in 2024. The $110 million that Golar has paid bp in liquidated damages for the period up until January 10, 2024 will remain with bp. It is expected that this pre-COD compensation, net of already paid liquidated damages, will be deferred on the balance sheet until COD.

•Dividends

On August 15, 2024, we declared a dividend of $0.25 per share in respect of the three months ended June 30, 2024 to shareholders of record on August 26, 2024, which will be paid on or around September 3, 2024.






37
v3.24.2.u1
Cover Page
 6 Months Ended
Jun. 30, 2024
Cover [Abstract]  
Document Type 6-K
Entity Registrant Name GOLAR LNG LIMITED
Document Period End Date Jun. 30, 2024
Entity Central Index Key 0001207179
Current Fiscal Year End Date --12-31
Document Fiscal Year Focus 2024
Document Fiscal Period Focus Q2
Amendment Flag false
v3.24.2.u1
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Total operating revenues $ 129,648 $ 151,498
Vessel operating expenses (57,136) (43,282)
Voyage, charterhire and commission expenses (3,481) (460)
Administrative expenses (12,927) (18,062)
Project development expenses (4,338) (36,950)
Depreciation and amortization (26,256) (25,027)
Impairment of long-lived assets 0 (5,021)
Total operating expenses (104,138) (128,802)
Realized and unrealized gain/(loss) on oil and gas derivative instruments 56,635 (87,754)
Other operating income 0 10,316
Total other operating income/(losses) 56,635 (77,438)
Operating income/(losses) 82,145 (54,742)
Realized and unrealized mark-to-market losses on our investment in listed equity securities 0 (62,308)
Other non-operating income, net 0 9,823
Total other non-operating losses 0 (52,485)
Interest income 18,582 23,318
Interest expense, net 0 (972)
Gains on derivative instruments, net 6,309 2,297
Other financial items, net (2,694) (1,375)
Net financial income 22,197 23,268
Income/(loss) before taxes and net income from equity method investments 104,342 (83,959)
Income taxes expense (278) (1,697)
Net losses from equity method investments (2,339) (296)
Net income/(loss) from continuing operations 101,725 (85,952)
Net income from discontinued operations 0 293
Net income/(loss) 101,725 (85,659)
Total net income attributable to non-controlling interests (20,598) (20,749)
Net income/(loss) attributable to stockholders of Golar LNG Limited $ 81,127 $ (106,408)
Basic earnings/(loss) per share from continuing operations (in USD per share) $ 0.78 $ (0.99)
Dilutive earnings/(loss) per share from continuing operations (in USD per share) 0.77 (0.99)
Basic (loss)/earnings per share from discontinued operations (in USD per share) 0 0.00
Diluted (loss)/earnings per share from discontinued operations (in USD per share) $ 0 $ 0.00
Continuing operations    
Total operating revenues $ 129,648 $ 151,498
Vessel operating expenses (57,136) (43,282)
Voyage, charterhire and commission expenses (3,481) (460)
Administrative expenses (12,927)  
Depreciation and amortization (26,256) (25,027)
Other operating income   10,316
Realized and unrealized mark-to-market losses on our investment in listed equity securities 0 (62,308)
Net losses from equity method investments (2,339) (296)
Net income/(loss) from continuing operations 101,725 (85,952)
Liquefaction services revenue    
Total operating revenues 112,488 116,594
Vessel management fees and other revenues    
Total operating revenues 10,830 24,044
Time and voyage charter revenues    
Total operating revenues $ 6,330 $ 10,860
v3.24.2.u1
UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Statement of Comprehensive Income [Abstract]    
Net income/(loss) $ 101,725 $ (85,659)
Other comprehensive (loss)/income:    
(Losses)/gains associated with pensions, net of tax [1] (1,251) 1,456
Share of equity method investment's comprehensive loss [2] 288 184
Other comprehensive income (963) 1,640
Comprehensive income/(loss) 100,762 (84,019)
Comprehensive income/(loss) attributable to:    
Stockholders of Golar LNG Limited 80,164 (104,768)
Non-controlling interests 20,598 20,749
Comprehensive income/(loss) $ 100,762 $ (84,019)
[1] In May 2024, we entered into a buy-in insurance agreement in relation to one of our defined benefit pension plans. This resulted to the disinvestment of the pension plan's assets previously held by a third-party financial institution and a net charge to other comprehensive (loss)/income of $1.4 million, netted off by the amortization of actuarial gains of $0.1 million for the six months ended June 30, 2024.
[2] No tax impact for the six months ended June 30, 2024 and 2023.
v3.24.2.u1
UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) (Parenthetical) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Statement of Comprehensive Income [Abstract]    
Other comprehensive (income) loss, defined benefit plan, before reclassification adjustment, after tax $ 1,400  
Other comprehensive (income) loss, defined benefit plan, reclassification adjustment from AOCI, after tax (100)  
OCI, equity method investment, tax $ 0 $ 0
v3.24.2.u1
UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 527,591 $ 679,225
Restricted cash and short-term deposits 19,539 18,115
Trade accounts receivable 31,511 38,915
Amounts due from related parties 0 7,312
Other current assets 146,465 71,997
Total current assets 725,106 815,564
Non-current assets    
Restricted cash 74,391 74,130
Equity method investments 50,153 53,982
Asset under development 1,692,854 1,562,828
Vessels and equipment, net 1,129,700 1,077,677
Non-current amounts due from related parties 7,525 0
Other non-current assets 441,289 499,806
Total assets 4,121,018 4,083,987
Current liabilities    
Current portion of long-term debt and short-term debt (353,334) (342,566)
Trade accounts payable (88,985) (7,454)
Accrued expenses (117,093) (144,810)
Other current liabilities (25,009) (50,950)
Total current liabilities (584,421) (545,780)
Non-current liabilities    
Long-term debt (820,258) (874,164)
Other non-current liabilities (52,330) (61,600)
Total liabilities (1,457,009) (1,481,544)
EQUITY    
Stockholders’ equity (2,086,096) (2,067,669)
Non-controlling interests (577,913) (534,774)
Total liabilities and equity $ (4,121,018) $ (4,083,987)
v3.24.2.u1
UNAUDITED CONSOLIDATED STATEMENTS OF CASHFLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
OPERATING ACTIVITIES    
Net income/(loss) $ 101,725 $ (85,659)
Net income/(loss) from continuing operations 101,725 (85,952)
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:    
Depreciation and amortization 26,256 25,027
Impairment of long-lived assets 0 5,021
Net loss from equity method investments 2,339 296
Change in fair value of investment in listed equity securities 0 62,308
INVESTING ACTIVITIES    
Additions to assets under development (88,965) (138,102)
Additions to vessels and equipment (63,519) (619)
Deposit paid for vessel 0 (15,500)
Loan advanced to related parties 0 (3,500)
Consideration received for long-lived assets held for sale 0 2,325
Dividends received from listed equity securities 0 11,128
Proceeds from sale of listed equity securities 0 45,552
Proceeds from sale of equity method investments 822 56,097
Proceeds from subscription of equity interest in Gimi MS 27,278 21,118
Net cash used in continuing investing activities (124,384) (21,501)
FINANCING ACTIVITIES    
Cash dividends paid (56,708) (44,537)
Repayments of short-term and long-term debt (46,317) (76,397)
Purchase of treasury shares (14,180) (29,447)
Financing costs paid (569) (9,809)
Reacquisition of common units in Hilli LLC 0 (100,047)
Proceeds from short-term and long-term debt 0 85,000
Net cash used in continuing financing activities (117,774) (175,237)
Cash and cash equivalents, restricted cash and short-term deposits within assets held for sale at the beginning of period 0 369
Net increase in cash and cash equivalents, restricted cash and short-term deposits within assets held for sale 0 369
Net decrease in cash and cash equivalents, restricted cash, short-term deposits and cash within assets held for sale (149,949) (110,095)
Cash and cash equivalents, restricted cash and short-term deposits at the beginning of the period 771,470 1,012,881
Cash and cash equivalents, restricted cash and short-term deposits at the end of the period 621,521 902,786
Supplemental Cash Flow Information [Abstract]    
Cash and cash equivalents 527,591 770,567
Restricted cash and short-term deposits 19,539 58,495
Restricted cash (non-current portion) 74,391 73,724
Cash, cash equivalents, restricted cash and restricted cash equivalents 621,521 902,786
Continuing operations    
OPERATING ACTIVITIES    
Net income/(loss) from continuing operations 101,725 (85,952)
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:    
Depreciation and amortization 26,256 25,027
Amortization of deferred charges and debt guarantees, net 1,983 512
Impairment of long-lived assets 0 5,021
Net loss from equity method investments 2,339 296
Drydocking expenditure (1,375) 0
Compensation cost related to employee stock awards 4,240 3,858
Net foreign exchange (gains)/losses (460) 1,426
Change in fair value of investment in listed equity securities 0 62,308
Changes in assets and liabilities:    
Trade accounts receivable 4,883 4,314
Other current and non-current assets (39,787) (113,535)
Amounts due from related parties (185) 384
Trade accounts payable 4,910 2,572
Accrued expenses 9,006 5,407
Other current and non-current liabilities (27,221) (12,531)
Net cash provided by continuing operations 92,209 85,998
Discontinued operations    
OPERATING ACTIVITIES    
Add: Net income from discontinued operations 0 (293)
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:    
Depreciation and amortization 0 20
Compensation cost related to employee stock awards 0 3
Net foreign exchange (gains)/losses 0 17
Changes in assets and liabilities:    
Other current and non-current assets 0 300
Trade accounts payable 0 (2)
Accrued expenses 0 (165)
Other current and non-current liabilities 0 (163)
Net income from discontinued operations 0 293
Gain on disposal and impairment of long-lived assets 0 (27)
Net cash provided by discontinued operations 0 276
Interest rate swap | Continuing operations    
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:    
Change in fair value of derivative instruments (1,754) 1,453
Oil and gas derivative | Continuing operations    
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:    
Change in fair value of derivative instruments $ 7,649 $ 185,438
v3.24.2.u1
UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Thousands
Total
Total before Non- Controlling Interest
Share Capital
Additional Paid-in Capital
Contributed Surplus
 [1]
Accumulated Other Comprehensive Loss
 [2]
Accumulated Retained Earnings
Non-Controlling Interest
Beginning balance at Dec. 31, 2022 $ 2,900,174 $ 2,500,224 $ 107,226 $ 1,936,746 $ 200,000 $ (5,811) $ 262,063 $ 399,950
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income/(loss) (85,659) (106,408)         (106,408) 20,749
Dividends (44,537) (26,695)         (26,695) (17,842)
Employee stock compensation 3,638 3,638   3,638        
Forfeiture of employee stock compensation (73) (73)   (73)        
Restricted stock units 0   198 (198)        
Proceeds from subscription of equity interest in Gimi MS Corporation (note 11) 21,118             21,118
Repurchase and cancellation of treasury shares (29,448) (29,448) (1,397)       (28,051)  
Other comprehensive income 1,640 1,640       1,640    
Reacquisition of common units of Hilli LLC (note 11) (215,605) (251,249)   (251,249)       35,644
Ending balance at Jun. 30, 2023 2,551,248 2,091,629 106,027 1,688,864 200,000 (4,171) 100,909 459,619
Beginning balance at Dec. 31, 2023 2,602,443 2,067,669 104,578 1,691,128 200,000 (5,072) 77,035 534,774
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income/(loss) 101,725 81,127         81,127 20,598
Dividends (56,708) (51,971)         (51,971) (4,737)
Employee stock compensation 4,174 4,174   4,174        
Forfeiture of employee stock compensation (102) (102)   (102)        
Restricted stock units 0   87 (87)        
Exercise of share options 342 342 17 325        
Proceeds from subscription of equity interest in Gimi MS Corporation (note 11) 27,278             27,278
Repurchase and cancellation of treasury shares (14,180) (14,180) (679)       (13,501)  
Other comprehensive income (963) (963)       (963)    
Ending balance at Jun. 30, 2024 $ 2,664,009 $ 2,086,096 $ 104,003 $ 1,695,438 $ 200,000 $ (6,035) $ 92,690 $ 577,913
[1] Contributed Surplus is “capital” that can be returned to stockholders without the need to reduce share capital, thereby giving us greater flexibility when it comes to declaring dividends.
[2] As at June 30, 2024 and 2023, our accumulated other comprehensive loss consisted of (i) $5.0 million and $3.6 million losses in relation to our pension and post-retirement benefit plan and $1.0 million and (ii) $0.6 million for our share of equity method investment’s comprehensive losses, respectively.
v3.24.2.u1
UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]    
Gain (loss) related to pension and post-retirement benefit plans $ (5.0) $ (3.6)
Share of equity method investment’s comprehensive losses from continuing operations $ 1.0 $ (0.6)
v3.24.2.u1
General
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
General GENERAL
Golar LNG Limited (the “Company” or “Golar”) was incorporated in Hamilton, Bermuda on May 10, 2001 for the purpose of acquiring the liquefied natural gas (“LNG”) shipping interests of Osprey Maritime Limited, which was owned by World Shipholding Limited.

Our operations have evolved from LNG shipping, floating regasification, combined cycle gas fired power plants to our current focus on floating liquefaction operations. We design, construct, own and operate marine infrastructure for the liquefaction of natural gas, storage and offloading of LNG. As of June 30, 2024, our fleet was comprised of two floating liquefaction natural gas vessels (“FLNGs”), the Hilli Episeyo (the “FLNG Hilli”) which is operational and Gimi (the “FLNG Gimi”), which is moored offshore Mauritania and Senegal, ready for connection to the upstream project infrastructure and two LNG carriers, of which the Fuji LNG has been earmarked as donor vessel for FLNG conversion.

We are listed on the Nasdaq under the ticker: “GLNG”.

As used herein and unless otherwise required by the context, the terms “Golar”, the “Company”, “we”, “our”, “us” and words of similar import refer to Golar or any one or more of its consolidated subsidiaries, or to all such entities.
v3.24.2.u1
Accounting Policies
 6 Months Ended
Jun. 30, 2024
Accounting Policies [Abstract]  
Accounting policies ACCOUNTING POLICIES
Basis of accounting

These unaudited consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). These unaudited consolidated financial statements do not include all of the disclosures required under U.S. GAAP in annual consolidated financial statements, and should be read in conjunction with our audited consolidated annual financial statements for the year ended December 31, 2023, which are included in our annual report on Form 20-F for the fiscal year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission on March 28, 2024.

Significant accounting policies

The accounting policies adopted in the preparation of these unaudited consolidated financial statements for the six months ended June 30, 2024 are consistent with those followed in the preparation of our audited consolidated financial statements for the year ended December 31, 2023, except for those discussed below and disclosed in note 3.

Contingencies

We may, from time to time, be involved in various legal proceedings, claims, lawsuits and complaints that arise in the ordinary course of business. We will recognize a contingent liability in our consolidated financial statements if the contingency has occurred at the balance sheet date and where we believe that the likelihood of loss was probable and the amount can be reasonably estimated. If we determine that the reasonable estimate of the loss is a range and there is no best estimate within the range, we will recognize the lower amount within the range. A contingent gain is only recognized when the amount is considered realized or realizable. Legal costs are expensed as incurred.
Use of estimates
The preparation of our consolidated financial statements requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the balance sheet date, and the reported amounts of revenue and expenses during the reporting period. We base our estimates, judgments and assumptions on our historical experience and on information that we believe to be reasonable under the circumstances at the time they are made. Estimates and assumptions about future events and their effects cannot be perceived with certainty and these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as our operating environment changes. Actual results could differ from these estimates. Estimates are used for, but are not limited to, determining the recoverability of our vessels and asset under development and the valuation of our oil and gas derivative instruments. In assessing the recoverability of our vessels’ carrying amounts, we make assumptions regarding estimated future cash flows, estimates in respect of residual values, charter rates, vessel operating expenses and drydocking requirements.
v3.24.2.u1
Recently Issued Accounting Standards
 6 Months Ended
Jun. 30, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]  
Recently issued accounting standards RECENTLY ISSUED ACCOUNTING STANDARDS
Adoption of new accounting standards

In June 2022, the FASB issued ASU 2022-03 Fair Value Measurement (Topic 820) - Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. We adopted this with effect from January 1, 2024. The adoption of ASU 2022-03 had no impact on our consolidated financial statements.

In November 2023, the FASB issued 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. We adopted this with effect from January 1, 2024. The adoption of ASU 2023-07 had no impact on our interim financial statements in 2024. We expect the impact of adoption of ASU 2023-07 to be limited to additional segment disclosures in our annual financial statements in 2024 and in our interim financial statements in 2025.

Accounting pronouncements that have been issued but not yet adopted

The following table provides a brief description of other recent accounting standards that have been issued but not yet adopted as of June 30, 2024:
StandardDescriptionDate of AdoptionEffect on our Consolidated Financial Statements or Other Significant Matters
ASU 2023-05 Business Combinations—Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement
Removes diversity in practice and requires certain joint ventures, upon formation to apply a new basis of accounting consistent with ASC 805 Business Combinations in the joint venturer’s separate financial statements. This guidance is effective for all joint ventures with a formation date on or after January 1, 2025; early adoption is permitted.

January 1, 2025No impact currently expected as a result of the adoption of this ASU.
ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax DisclosuresThese amendments enhance disclosures relating to income taxes, including the income tax rate reconciliation and information related to income taxes paid. The guidance is effective for us on January 1, 2025. Early adoption is permitted. January 1, 2025We are assessing the impact of this ASU. Upon adoption, if material, the impact will be limited to additional disclosure requirements in our annual financial statements in 2025.
v3.24.2.u1
Segment Information
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment information SEGMENT INFORMATION
We provide three distinct services and operate in the following three reportable segments: “FLNG”, “Corporate and other” and “Shipping” and our key performance indicator is Adjusted EBITDA. A reconciliation of net income to Adjusted EBITDA for the six months ended June 30, 2024 and 2023 is as follows:
(in thousands of $)20242023
Net income/(loss)
101,725 (85,659)
Income taxes
278 1,697 
Income/(loss) before income taxes
102,003 (83,962)
Depreciation and amortization26,256 25,027 
Impairment of long-lived assets
— 5,021 
Unrealized loss on oil and gas derivative instruments (note 7)
13,902 191,657 
Realized and unrealized mark-to-market losses on investment in listed equity securities
(note 8)
— 62,308 
Other non-operating income, net (note 8)— (9,823)
Interest income(18,582)(23,318)
Interest expense— 972 
Gains on derivative instruments, net (note 9)(6,309)(2,297)
Other financial items, net (note 9)2,694 1,375 
Net losses from equity method investments (note 15)
2,339 296 
Net income from discontinued operations
— (293)
Adjusted EBITDA122,303 166,963 

Our three distinct reportable segments are as follows:
•FLNG – This segment includes the operations of our FLNG vessels or projects. We convert LNG carriers into FLNG vessels or build new FLNG vessels and subsequently contract them to third parties. We currently have one operational FLNG, the FLNG Hilli, and one FLNG moored at the GTA field offshore Mauritania and Senegal, the FLNG Gimi, which is awaiting connection to upstream infrastructure (note 14).
•Corporate and other – This segment includes our vessel management, floating storage and regasification unit (“FSRU”) services for third parties, administrative services to affiliates and third parties, our corporate overhead costs and other strategic investments.
•Shipping – This segment includes the transportation operations of our LNG carriers.

Six months ended June 30, 2024
(in thousands of $)FLNG
Corporate and other (1)
ShippingTotal results from continuing operations
Statement of Operations:
Total operating revenues112,488 10,830 6,330 129,648 
Vessel operating expenses
(41,549)(10,193)(5,394)(57,136)
Voyage, charterhire and commission expenses, net
— (33)(3,448)(3,481)
Administrative expenses
(437)(12,472)(18)(12,927)
Project development expenses
(2,385)(1,952)(1)(4,338)
Realized gain on oil and gas derivative instruments, net (note 7)
70,537 — — 70,537 
Adjusted EBITDA138,654 (13,820)(2,531)122,303 
Net losses from equity method investments (note 15)
— (2,339)— (2,339)
(1) Includes inter-segment eliminations arising from vessel and administrative management fees revenue between segments.

Balance Sheet:June 30, 2024
(in thousands of $)FLNGCorporate and otherShippingTotal assets
Total assets (1)
3,320,004 669,869 131,145 4,121,018 
Equity method investments (note 15)
— 50,153 — 50,153 
(1) In March 2024, we acquired the Fuji LNG, the donor vessel for Mark II FLNG (“Mark II”) for $77.5 million and consequently reclassified the deposit of $15.5 million from “Other non-current assets” (note 16) to “Vessels and equipment, net”. The Fuji LNG is currently presented under the Shipping segment as she is currently trading as an LNG carrier.

Six months ended June 30, 2023
(in thousands of $)FLNG
Corporate and other (1)
ShippingTotal results from continuing operations
Statement of Operations:
Total operating revenues116,594 24,044 10,860 151,498 
Vessel operating expenses
(31,512)(9,670)(2,100)(43,282)
Voyage, charterhire and commission expenses, net
(300)(19)(141)(460)
Administrative (expenses)/income
(92)(17,979)9 (18,062)
Project development expenses
(2,237)(34,713)— (36,950)
Realized gain on oil and gas derivative instruments, net (note 7)
103,903 — — 103,903 
Other operating income (note 5)
2,499 7,817 — 10,316 
Adjusted EBITDA188,855 (30,520)8,628 166,963 
Net (loss)/income from equity method
investments (note 15)
— (2,610)2,314 (296)
(1) Includes inter-segment eliminations arising from vessel and administrative management fees revenue between segments.
Balance Sheet:December 31, 2023
(in thousands of $)FLNGCorporate and otherShippingTotal assets
Total assets3,160,457 866,088 57,442 4,083,987 
Equity method investments (note 15)
— 53,982 — 53,982 
v3.24.2.u1
Revenue
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue REVENUE
The following table represents a disaggregation of revenue earned from contracts with external customers during the six months ended June 30, 2024 and 2023. Liquefaction services revenue is included under our “FLNG” segment while Vessel management fees and other revenues under our “Corporate and other” segment.
Six months ended June 30,
(in thousands of $)20242023
Base tolling fee (1)
102,251 102,251 
Amortization of deferred commissioning period revenue (2)
2,054 2,043 
Amortization of Day 1 gains (3)
6,253 6,219 
Accrued overproduction revenue (4)
— 4,074 
Incremental base tolling fee (5)
2,500 2,500 
Other (6)
(570)(493)
Liquefaction services revenue
112,488 116,594 
Management fees revenue (7)
10,617 10,114 
Service revenue (8)
— 13,798 
Other revenues
213 132 
Vessel management fees and other revenues
10,830 24,044 
(1) The LTA bills at a base rate in periods when the oil price is $60 or less per barrel, and at an increased rate when the oil price is greater than $60 per barrel. The oil price above the base rate is recognized as a derivative and included in “Realized and unrealized (loss)/gain on oil and gas derivative instruments” in the unaudited consolidated statements of operations (note 7).

(2) Customer billing during the commissioning period, prior to vessel acceptance and commencement of the contract term was deferred (notes 18 and 19) and recognized evenly over the term of the LTA.

(3) Day 1 gains result from amount established on the initial recognition of the FLNG Hilli’s oil derivative instrument embedded in the LTA and the FLNG Hilli’s gas derivative instruments pursuant to the third amendment to the LTA (“LTA Amendment 3”) (notes 18 and 19). These amounts were deferred on initial recognition and amortized evenly over the contract term.

(4) In March 2021, we signed an agreement with the Customer (the “LTA Amendment 2”), to change the contract term from one linked to fixed capacity of 500.0 billion cubic feet to one of a fixed term, terminating on July 18, 2026. This amendment also permits billing adjustments for amounts over or under the annual contracted capacity in a given contract year (“overproduction” or “underutilization”, respectively), commencing from contract year 2019. Amounts for overproduction were invoiced at the end of a given contract year, while amounts for underutilization (which is capped per contract year) will be a reduction against our final invoice to the Customer at the end of the LTA in July 2026.

For the six months ended June 30, 2023, we estimated $6.6 million of overproduction variable consideration. Pursuant to the fourth amendment to the LTA, we agreed with the Customer to increase contract year 2023 annual contracted capacity to offset the 2022 underproduction. The recognition was bifurcated between “Liquefaction services revenue” and “Other operating income” financial statement line items, of $4.1 million and $2.5 million, respectively. There were no comparable amounts for the six months ended June 30, 2024.

(5) In 2021, we entered into LTA Amendment 3 which increased the annual capacity utilization of FLNG Hilli by 0.2 million tonnes of LNG, for the 2022 contract year. In July 2022, the Customer exercised its option pursuant to LTA Amendment 3 for 0.2 million tonnes (out of 0.4 million tonnes) from January 2023 to the end of the LTA. The combined effect results in annual contracted base capacity of 1.4 million tonnes of LNG from January 1, 2022 to the end of the LTA. The tolling fee is linked to TTF and the Euro/U.S. Dollar foreign exchange movements. The contractual floor rate is recognized in “Liquefaction services revenue” and the tolling fee above the contractual floor rate is recognized as a derivative in “Realized and unrealized (loss)/gain on oil and gas derivative instruments,” in the unaudited consolidated statements of operations (note 7).

(6) “Other” comprised of: (i) accrued demurrage costs of $0.3 million and $0.2 million for the six months ended June 30, 2024 and 2023, respectively, which we recognized in the period in which the delay occurred; and (ii) release of deferred liquidated damages recognized prior to the commencement of the LTA of $0.3 million and $0.3 million for the six months ended June 30, 2024 and 2023, respectively.

(7) Comprised of revenue earned from various ship management, administrative and vessel operation and maintenance services we provide to external customers.
(8) In August 2022, we entered into a development agreement with Snam to provide drydocking, site commissioning and hook-up services for the Italis LNG (formerly known as Golar Tundra) (the “Development Agreement”), which it acquired from us in May 2022. The Development Agreement includes contractual fixed payments recognized over the period of time that we provide the services to Snam. We completed the Development Agreement in May 2023 and recognized services revenue of $13.8 million during the six months ended June 30, 2023.

Contract Assets and Liabilities

The following table represents our contract assets and liabilities balances as of:

(in thousands of $)June 30, 2024December 31, 2023
Contract assets
21,212 21,403 
Current contract liabilities
(4,220)(4,220)
Non-current contract liabilities
(4,222)(6,276)
Total contract liabilities (1)
(8,442)(10,496)

(in thousands of $)June 30, 2024December 31, 2023
Opening contract liability balance (2)(3)
(10,496)(62,416)
Deferral of revenue (4)
— (2,325)
Recognition of unearned revenue (1)(2)
2,054 44,104 
Recognition of deferred revenue (3)(4)
— 10,141 
Closing contract liability balance(8,442)(10,496)

(1) Included within “Total contract liabilities” is the deferred commissioning revenue in relation to the FLNG Hilli of $8.4 million as of June 30, 2024 (December 31, 2023: $10.5 million) (note 18 and 19). We expect to recognize liquefaction services revenue related to the partially unsatisfied performance obligation at the reporting date evenly over the remaining LTA contract term of two years.

(2) Due to a production shortfall of the FLNG Hilli for the 2022 contract year, we recognized a non-current contract liability for underutilization of $35.8 million which was fully unwound in 2023 following delivery of contract year 2023 annual LNG production.

(3) Pursuant to the Arctic SPA, upon receipt of a notice to proceed, we were to convert LNG carrier Golar Arctic to an FSRU which would lead to her eventual sale to Snam. The Arctic SPA included contractual fixed payments (recognized over the period of time that we would have provided the services to Snam). In June 2023, Snam’s option to issue the notice to proceed lapsed and in accordance with the Arctic SPA, we retained and recognized the first advance payment of $7.8 million and presented in “Other operating income” in the unaudited consolidated statements of operations.
(4) Included in “deferral of revenue” as of December 31, 2023 in the reconciliation of contract liabilities table above, is the deposit of $2.3 million received for the sale of the Gandria in May 2023, which subsequently completed in November 2023.
v3.24.2.u1
Earnings/(Loss) Per Share
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Earnings/(loss) per share EARNINGS/(LOSS) PER SHARE
Basic earnings/(loss) per share “EPS/(LPS)” is calculated with reference to the weighted average number of common shares outstanding during the period.

The components of the numerator for the calculation of basic and diluted EPS/(LPS) are as follows:
Six months ended June 30,
(in thousands of $)20242023
Net income/(loss) net of non-controlling interests - continuing operations - basic and diluted
81,127 (106,701)
Net income net of non-controlling interests - discontinued operations - basic and diluted
— 293 
The components of the denominator for the calculation of basic and diluted EPS/(LPS) are as follows:
Six months ended June 30,
(in thousands of $)20242023
Basic:
Weighted average number of common shares outstanding104,278 107,337 
Dilutive:
Dilutive impact of share options and RSUs (1)
724 618 
Weighted average number of common shares outstanding105,002 107,955 

EPS/(LPS) per share are as follows:
Six months ended June 30,
20242023
Basic EPS/(LPS) from continuing operations
$0.78 $(0.99)
Diluted EPS/(LPS) from continuing operations (1)
$0.77 $(0.99)
Basic and diluted EPS from discontinued operations
$— 0.00
(1) The effects of stock awards have been excluded from the calculation of diluted LPS from continuing operations for the six months ended June 30, 2023 because the effects were anti-dilutive.
v3.24.2.u1
Realized and Unrealized Gain/(Loss) on Oil and Gas Derivative Instruments
 6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Realized and unrealized gain/(loss) on oil and gas derivative instruments REALIZED AND UNREALIZED GAIN/(LOSS) ON OIL AND GAS DERIVATIVE INSTRUMENTS
The realized and unrealized gain/(loss) on the oil and gas derivative instruments is comprised of the following:    
Six months ended June 30,
20242023
Realized gain on FLNG Hilli’s oil derivative instrument
36,656 36,156 
Realized mark-to-market (“MTM”) adjustment on commodity swap derivatives
24,719 42,066 
Realized gain on FLNG Hilli’s gas derivative instrument
9,162 25,681 
Realized gain on oil and gas derivative instruments, net
70,537 103,903 
Unrealized gain/(loss) on FLNG Hilli’s oil derivative instrument (note 16)
15,092 (74,840)
Unrealized loss on FLNG Hilli’s gas derivative instrument (note 16)
(5,294)(94,642)
Unrealized MTM adjustment on commodity swap derivatives (23,700)(22,175)
Unrealized loss on oil and gas derivative instruments
(13,902)(191,657)
Realized and unrealized gain/(loss) on oil and gas derivative instruments
56,635 (87,754)

The realized gain/(loss) on oil and gas derivative instruments results from monthly billings above the FLNG Hilli base tolling fee and the incremental capacity increase pursuant to respective LTA amendments, whereas the unrealized gain/(loss) on oil and gas derivative instruments results from movements in forecasted oil and natural gas prices and Euro/U.S. Dollar exchange rates.
OTHER NON-OPERATING LOSSES
Other non-operating losses are comprised of the following:
Six months ended June 30,
20242023
Realized and unrealized MTM losses on investment in listed equity securities (1)
— (62,308)
Dividend income from our investment in listed equity securities
— 9,823 
Other non-operating losses
— (52,485)
(1) During the six months ended June 30, 2023, we sold 1.2 million shares of Class A NFE common shares (“NFE Shares”) at a price range between $36.90 and $40.38 per share for an aggregate consideration of $45.6 million which resulted to $62.3 million realized MTM losses. We also disposed of our remaining 4.1 million NFE Shares that were applied as partial consideration for the repurchase of 1,230 common units in Golar Hilli LLC “Hilli LLC” from NFE, which NFE acquired pursuant to the sale of our investment in Golar LNG Partners LP (“Golar Partners”) to NFE in April 2021. Following these transactions, we no longer hold any listed equity securities.
v3.24.2.u1
Other Non-Operating Losses
 6 Months Ended
Jun. 30, 2024
Other Income and Expenses [Abstract]  
Other non-operating losses REALIZED AND UNREALIZED GAIN/(LOSS) ON OIL AND GAS DERIVATIVE INSTRUMENTS
The realized and unrealized gain/(loss) on the oil and gas derivative instruments is comprised of the following:    
Six months ended June 30,
20242023
Realized gain on FLNG Hilli’s oil derivative instrument
36,656 36,156 
Realized mark-to-market (“MTM”) adjustment on commodity swap derivatives
24,719 42,066 
Realized gain on FLNG Hilli’s gas derivative instrument
9,162 25,681 
Realized gain on oil and gas derivative instruments, net
70,537 103,903 
Unrealized gain/(loss) on FLNG Hilli’s oil derivative instrument (note 16)
15,092 (74,840)
Unrealized loss on FLNG Hilli’s gas derivative instrument (note 16)
(5,294)(94,642)
Unrealized MTM adjustment on commodity swap derivatives (23,700)(22,175)
Unrealized loss on oil and gas derivative instruments
(13,902)(191,657)
Realized and unrealized gain/(loss) on oil and gas derivative instruments
56,635 (87,754)

The realized gain/(loss) on oil and gas derivative instruments results from monthly billings above the FLNG Hilli base tolling fee and the incremental capacity increase pursuant to respective LTA amendments, whereas the unrealized gain/(loss) on oil and gas derivative instruments results from movements in forecasted oil and natural gas prices and Euro/U.S. Dollar exchange rates.
OTHER NON-OPERATING LOSSES
Other non-operating losses are comprised of the following:
Six months ended June 30,
20242023
Realized and unrealized MTM losses on investment in listed equity securities (1)
— (62,308)
Dividend income from our investment in listed equity securities
— 9,823 
Other non-operating losses
— (52,485)
(1) During the six months ended June 30, 2023, we sold 1.2 million shares of Class A NFE common shares (“NFE Shares”) at a price range between $36.90 and $40.38 per share for an aggregate consideration of $45.6 million which resulted to $62.3 million realized MTM losses. We also disposed of our remaining 4.1 million NFE Shares that were applied as partial consideration for the repurchase of 1,230 common units in Golar Hilli LLC “Hilli LLC” from NFE, which NFE acquired pursuant to the sale of our investment in Golar LNG Partners LP (“Golar Partners”) to NFE in April 2021. Following these transactions, we no longer hold any listed equity securities.
v3.24.2.u1
Gains on Derivative Instruments and Other Financial Items, Net
 6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Gains on derivative instruments and other financial items, net GAINS ON DERIVATIVE INSTRUMENTS AND OTHER FINANCIAL ITEMS, NET
Gains on derivative instruments, net are comprised of the following:
(in thousands of $)Six months ended June 30,
20242023
Net interest income on undesignated interest rate swap (“IRS”) derivatives
4,555 3,750 
Unrealized MTM adjustment for IRS derivatives1,754 (1,453)
Gains on derivative instruments, net6,309 2,297 

Other financial items, net is comprised of the following:
(in thousands of $)Six months ended June 30,
20242023
Amortization of debt guarantees (1)
827 1,034 
Foreign exchange gain/(loss) on operations
460 (1,427)
Financing arrangement fees and other related costs (2)
(3,768)(799)
Others(213)(183)
Other financials items, net(2,694)(1,375)
(1) “Amortization of debt guarantees” relates to guarantee fees earned for the provision of (i) charter guarantees to Energos and (ii) debt guarantees for certain of CoolCo's outstanding sale and leaseback debts amounting to $159.6 million.
(2) Included within “Financing arrangement fees and other related costs” for the six months ended June 30, 2024 is $3.7 million financial charges incurred by the FLNG Hilli's lessor VIE.
v3.24.2.u1
Operating Leases
 6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Operating leases OPERATING LEASES
Rental income

The components of operating lease income were as follows:
Six months ended June 30,
(in thousands of $)20242023
Operating lease income3,581 10,860 
Variable lease income (1)
2,749 — 
Total operating lease income (2)
6,330 10,860 
(1) “Variable lease income” is excluded from lease payments that comprise the minimum contractual future revenues from non-cancellable operating leases.
(2) Total operating lease income is presented in the unaudited consolidated statement of operations line item “Time and voyage charter revenues.”
v3.24.2.u1
Variable Interest Entities ("VIEs")
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Variable Interest Entities ("VIEs") VARIABLE INTEREST ENTITIES (“VIEs”)
11.1 Lessor VIE

As of June 30, 2024, we leased one (December 31, 2023: one) vessel from China State Shipbuilding Corporation entity (“CSSC entity”) as part of a sale and leaseback agreement. The CSSC entity is a special purpose vehicle owned by a third party (“Lessor SPV”) that we are required to consolidate under US GAAP. In this transaction, we sold our vessel, the FLNG Hilli and then subsequently leased back the vessel on a bareboat charter for an initial term of ten years. In June 2023, we entered into the fourth side letter to FLNG Hilli’s sale and leaseback facility which amended the reference rate to a Secured Overnight Financing Rate (“SOFR”) from London Interbank Offered Rate (“LIBOR”), reduced the margin and extended the tenor of the facility by 5 years to 2033. These amendments did not impact our total bareboat obligations. We still have the option to repurchase the vessel at a fixed predetermined amount during i2ts charter period and an obligation to repurchase the vessel at the end of the vessel’s lease period. 
 
A summary of our payment obligations (excluding repurchase options and obligations) under the bareboat charter with the lessor VIE as of June 30, 2024, is shown below:

(in thousands of $)
2024(1)
202520262027
2028
2029+
Hilli (2)
42,09582,20179,07776,04372,830274,766
(1) For the six months ending December 31, 2024.

(2) The payment obligations above include contractual capital and variable rental payments due under the lease.

The assets and liabilities of the lessor VIE that most significantly impact our unaudited consolidated balance sheet as of June 30, 2024 and December 31, 2023, are as follows:

(in thousands of $)June 30, 2024December 31, 2023
Assets
Restricted cash and short-term deposits17,590 18,085 
Liabilities
Total debt (1):
(350,752)(393,193)
Current portion of long-term debt and short-term debt
(287,223)(299,576)
Long-term debt
(63,529)(93,617)
(1) Where applicable, these balances are net of deferred finance charges.
The most significant impact of the lessor VIE’s operations on our unaudited consolidated statements of operations and unaudited consolidated statements of cash flows for the six months ended June 30, 2024 and 2023 are as follows:
(in thousands of $)20242023
Continuing operations
Statement of operations
Other financial items, net (note 9)
3,749 — 
Interest expense10,381 5,273 
Statement of cash flows
Net debt repayments(42,670)(52,359)
Financing costs paid— (3,150)

11.2    Golar Hilli LLC

Hilli LLC owns Golar Hilli Corp. (“Hilli Corp”), the disponent owner of FLNG Hilli. The ownership interests in Hilli LLC are represented by three classes of units: the Hilli Common Units, the Series A Special Units and the Series B Special Units. We are the managing member of Hilli LLC and are responsible for all operational, management and administrative decisions relating to Hilli LLC’s business. We have retained sole control over the most significant activities and the greatest exposure to variability in residual returns and expected losses from the FLNG Hilli and, as a result, we concluded that Hilli LLC is a VIE, that we are the primary beneficiary and that we consolidate both Hilli LLC and Hilli Corp.

As of June 30, 2024 and December 31, 2023, the ownership structure of Hilli LLC is as follows:

Percentage ownership interest
Hilli Common UnitsSeries A Special UnitsSeries B Special Units
Golar LNG Limited94.6 %89.1 %89.1 %
Seatrium5.0 %10.0 %10.0 %
B&V0.4 %0.9 %0.9 %
Summarized financial information of Hilli LLC

The assets and liabilities of Hilli LLC(1) that most significantly impact our unaudited consolidated balance sheets are as follows:

(in thousands of $)June 30, 2024December 31, 2023
Balance sheet
Current assets83,927 70,461 
Non-current assets1,198,071 1,212,922 
Current liabilities(341,173)(342,480)
Non-current liabilities(86,889)(125,094)
(1) Balances are inclusive of the Hilli Lessor VIE.

The most significant impact of the lessor VIE’s operations on our unaudited consolidated statements of operations and unaudited consolidated statements of cash flows for the six months ended June 30, 2024 and 2023 are as follows:

(in thousands of $)20242023
Statement of operations
Liquefaction services revenue112,488 116,594 
Realized and unrealized gain/(loss) on oil and gas derivative instruments
56,635 (87,754)
(in thousands of $)20242023
Statement of changes in equity
Additional paid-in capital (1)
— (251,249)
Non-controlling interest— 35,644 
Statement of cash flows
Reacquisition of common units in Hilli LLC— (100,047)
Net debt repayments(42,670)(52,359)
Financing costs paid— (3,150)
Cash dividends paid(4,737)(17,842)
(1) In March 2023, we repurchased the 1,230 Hilli Common Units, held by Golar Partners from NFE which represents an increase in our ownership interest in Hilli LLC while control is retained. Consequently, a loss of $251.2 million was recorded in equity.

11.3    Gimi MS Corporation

Following the closing of the sale of 30% of the common shares of Gimi MS Corporation (“Gimi MS”) to First FLNG Holdings in April 2019, we have determined that (i) Gimi MS is a VIE and (ii) we are the primary beneficiary and retain sole control over the most significant activities and the greatest exposure to variability in residual returns and expected losses from the Gimi. Thus, Gimi MS continues to be consolidated into our financial statements.

Summarized financial information of Gimi MS

The assets and liabilities of Gimi MS that most significantly impact our unaudited consolidated balance sheets are as follows:

(in thousands of $)June 30, 2024December 31, 2023
Balance sheet
Current assets113,037 17,359 
Non-current assets1,731,916 1,702,148 
Current liabilities(205,493)(168,370)
Non-current liabilities(560,466)(585,678)

The most significant impact of Gimi MS VIE’s operations on our unaudited consolidated statements of cash flows for the six months ended June 30, 2024 and 2023 are as follows:

Six months ended June 30,
(in thousands of $)20242023
Statement of cash flows
Additions to asset under development88,965 138,102 
Capitalized financing costs(569)(1,156)
Net debt receipts— 85,000 
Proceeds from subscription of equity interest27,278 21,118 
v3.24.2.u1
Restricted Cash and Short-Term Deposits
 6 Months Ended
Jun. 30, 2024
Supplemental Cash Flow Elements [Abstract]  
Restricted cash and short-term deposits RESTRICTED CASH AND SHORT-TERM DEPOSITS
Our restricted cash and short-term deposits balances are as follows:
(in thousands of $)June 30, 2024December 31, 2023
Restricted cash in relation to the FLNG Hilli (1)
60,988 60,996 
Restricted cash and short-term deposits held by lessor VIE (2)
17,590 18,085 
Restricted cash relating to the LNG Hrvatska O&M Agreement (3)
12,404 12,083 
Restricted cash in relation to the FLNG Gimi (4)
1,949 — 
Restricted cash relating to office lease999 1,081 
Total restricted cash and short-term deposits93,930 92,245 
Less: Amounts included in current restricted cash and short-term deposits(19,539)(18,115)
Non-current restricted cash74,391 74,130 

(1) In November 2015, in connection with the issuance of a $400 million letter of credit (“LC”) by a financial institution to the Customer of the FLNG Hilli, we recognized an initial cash collateral of $305.0 million to support the FLNG Hilli performance guarantee. Under the provisions of the LC, the terms allow for a stepped reduction in the value of the guarantee over time and a corresponding reduction to the cash collateral requirements. In May 2021, the FLNG Hilli had achieved 3.6 million tonnes of LNG production, reducing the LC to $100.0 million and the cash collateral to $61.0 million as of June 30, 2024. The cash collateral is expected to be restricted until the end of the LTA term.

In November 2016, after we satisfied certain conditions precedent, the LC originally issued with an initial expiration date of December 31, 2018, was re-issued and automatically extends, on an annual basis, until the tenth anniversary of the acceptance date of the FLNG Hilli, unless the bank exercises its option to exit from the arrangement by giving a three months’ notice prior to the next annual renewal date.

(2) These are amounts held by lessor VIE that we are required to consolidate under U.S. GAAP into our financial statements (note 11).

(3) In connection with the LNG Hrvatska O&M Agreement, we are required to maintain two performance guarantees, one in the amount of $9.7 million (€9.1 million) and one in the amount of $1.3 million, both of which will remain restricted throughout the 10-year term until December 2030.
(4) In 2019, we entered into a $700 million facility agreement with a group of lenders to finance the conversion of the FLNG Gimi. Restricted cash requirements under the facility agreement provide additional security to the lenders before and post FLNG Gimi’s commercial operations date (“COD”). Pre-COD, all earnings are required to be restricted, however it can be released for debt service obligations subject to lenders' approval. Post-COD these earnings will be released through a waterfall mechanism, as stipulated in the debt facility agreement.
v3.24.2.u1
Other Current Assets
 6 Months Ended
Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Other current assets OTHER CURRENT ASSETS
Other current assets consist of the following:
(in thousands of $)June 30, 2024December 31, 2023
MTM asset on TTF linked commodity swap derivatives (note 20)
24,378 48,079 
Interest receivable from money market deposits and bank accounts (note 20)
4,059 3,929 
Prepaid expenses3,322 2,292 
Inventories
2,557 1,990 
Receivable from IRS derivatives2,340 2,461 
MTM asset on IRS derivatives (note 20)
2,089 2,697 
Receivable from TTF linked commodity swap derivatives— 7,581 
Others (1)
107,720 2,968 
Other current assets146,465 71,997 
(1) Included within “Others” as of June 30, 2024 is the reclassification of the pre-commissioning net contractual cash flow in relation to the Gimi LOA of $92.6 million from “Other non-current assets” in alignment with the FLNG Gimi’s expected COD in mid-2025.
v3.24.2.u1
Asset Under Development
 6 Months Ended
Jun. 30, 2024
Extractive Industries [Abstract]  
Asset under development ASSET UNDER DEVELOPMENT
(in thousands of $)June 30, 2024December 31, 2023
Opening asset under development balance1,562,828 1,152,032 
Additions85,363 338,327 
Interest costs capitalized44,663 72,469 
Closing asset under development balance1,692,854 1,562,828 
14.1. Gimi conversion financing

The aggregate conversion cost including financing costs is approximately $1.7 billion of which $700.0 million is funded by the Gimi facility (note 18). As of June 30, 2024, the estimated timing of the outstanding payments is as follows:
(in thousands of $)
Period ending December 31,
2024 (1)
175,937 
2025
53,565 
Total229,502 
(1) For the six months ending December 31, 2024.

14.2. Gimi LOA

In February 2019, Gimi MS entered into a Lease and Operate Agreement with BP Mauritania Investments Limited (“bp”), Gimi MS and our subsidiary Golar MS Operator S.A.R.L. (the “LOA”) which was subsequently amended on August 3, 2024 (note 23). The LOA provides for the construction and conversion of LNG carrier Gimi to a FLNG, transit, mooring and connection to the upstream project infrastructure (of which bp is the appointed operator), commissioning with the upstream facilities including its floating production, storage and offloading vessel, completing specified acceptance tests, followed by 20 years of commercial operations, commencing on COD.

FLNG Gimi’s departure from the shipyard was postponed from March 2023 to November 2023 to allow for further vessel completion, pre-commissioning and testing work to be completed in the shipyard prior to departure, considering that skills and resources were more accessible in Singapore at the time. FLNG Gimi arrived at the GTA Hub's operating boundary on January 10, 2024 and was securely moored to the Hub on February 20, 2024.

We and bp are required to meet various contractual delivery schedules with delays resulting in contractual prepayments between the parties in advance of COD. Following COD, we will operate and maintain FLNG Gimi and make her capacity exclusively available for the liquefaction of natural gas from the GTA Project and offloading of LNG produced for a period of twenty years. Post COD, the contractual dayrate is comprised of capital and operating elements.

14.3. Gimi LOA pre-commissioning contractual cash flows

As a result of project delays, pre-commissioning contractual cash flows commenced in March 2023 and as of June 30, 2024, Gimi MS recognized $92.6 million of net amounts paid to bp (note 13).
The ongoing contract interpretation dispute regarding certain of these pre-commissioning contractual cash flows continues, regarding amounts payable by bp to Gimi MS. As of June 30, 2024, we remained of the view that Gimi MS is due Project Delay Payments (“PDPs”) from May 2023 from bp, which bp have disputed. To facilitate a mutual resolution, Gimi MS followed the dispute resolution provisions included in the LOA and thereafter initiated arbitration proceedings in respect of the PDPs in August 2023. We consider the contractual PDPs receivable from bp as a contingent gain and no amounts are recognized in our consolidated financial statements as of June 30, 2024. Any amount we may recover will not be reflected in our consolidated financial statements until such time as our claim has been resolved and the amount is realized or realizable. Refer to note 23 for the amended pre-COD contractual cash flows agreed pursuant to the LOA Amendment Deed.
v3.24.2.u1
Equity Method Investments
 6 Months Ended
Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Equity method investments EQUITY METHOD INVESTMENTS
Six months ended June 30,
(in thousands of $)20242023
Share of net losses of Avenir LNG Limited (“Avenir”)
(2,503)(2,879)
Share of net income of CoolCo— 1,491 
Share of net income of other equity method investments682 269 
(Loss)/gain on disposal (1)
(518)823 
Net losses from equity method investments
(2,339)(296)

The carrying values of our equity method investments as of June 30, 2024 and December 31, 2023 are as follows:

(in thousands of $)June 30, 2024December 31, 2023
Avenir
34,152 35,729 
Logística e Distribuição de Gás S.A. (“LOGAS”)
8,340 9,261 
Egyptian Company for Gas Services S.A.E (“ECGS”)
5,509 5,237 
Aqualung Carbon Capture AS (“Aqualung”)
2,152 2,244 
MGAS Comercializadora de Gás Natural Ltda. (“MGAS”) (2)
— 1,511 
Equity method investments50,153 53,982 
(1) In March 2023, we sold 4.5 million of our CoolCo shares at NOK 130/$12.60 per share for net consideration of $56.1 million, inclusive of $0.1 million fees. As of June 30, 2024, following the sale of our CoolCo shares, we retain one common share in CoolCo which is required by debt covenants relating to the guarantees we continue to provide CoolCo. The gain on disposal of $0.8 million is included in the unaudited consolidated statement of operations line-item “Net income/(losses) from equity method investments.”

(2) In May 2024, Macaw Energies Brasil Servicos de Gás Natural Ltda, our wholly owned subsidiary, completed the disposal of its 51% equity interest in MGAS for a consideration of $0.8 million (BRL4.25 million). The loss on disposal of $0.5 million is included in the unaudited consolidated statement of operations line-item “Net income/(losses) from equity method investments.”
v3.24.2.u1
Other Non-Current Assets
 6 Months Ended
Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Other non-current assets OTHER NON-CURRENT ASSETS
Other non-current assets are comprised of the following:
(in thousands of $) June 30, 2024December 31, 2023
Pre-operational assets (1)
223,557 189,023 
Oil derivative instrument (note 20)
121,040 105,948 
Gas derivative instrument (note 20)
48,368 53,663 
MTM asset on IRS derivatives (note 20)
39,053 36,690 
Operating lease right-of-use-assets (2)
7,895 7,386 
Others (3)
1,376 107,096 
Other non-current assets441,289 499,806 
(1) As of June 30, 2024, “Pre-operational assets” comprised of:
•MKII FLNG project capitalized engineering costs, long lead items and deposit for a donor vessel of $77.2 million, $138.3 million and $nil, respectively (December 31, 2023: $59.4 million, $109.8 million and $15.5 million, respectively). The donor vessel, Fuji LNG, was acquired on March 4, 2024 for total consideration of $77.5 million. Consequently, the deposit for the donor vessel of $15.5 million was reclassified from “Other non-current assets” to “Vessels and equipment, net” of the unaudited consolidated balance sheets.
•F2X project capitalized engineering and other directly attributable costs of $8.0 million (December 31, 2023: $4.4 million).
(2) “Operating lease right-of-use-assets” mainly comprised of our office leases in London and Oslo.
(3) Included within “Others” as of June 30, 2024 and December 31, 2023 are pre-commissioning contractual cash flows in relation to the Gimi LOA of $nil and $105.4 million, respectively. As mentioned in note 13, the reclassification of the pre-commissioning net contractual cash flow to “Other current assets” was in alignment with the FLNG Gimi’s expected COD in mid-2025.
.
v3.24.2.u1
Debt
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Debt DEBT
As of June 30, 2024 and December 31, 2023, our debt was as follows:
(in thousands of $)June 30, 2024December 31, 2023
Gimi facility (note 14.1)
(630,000)(630,000)
Unsecured Bonds
(199,905)(199,869)
Golar Arctic facility
(10,943)(14,589)
Subtotal (excluding lessor VIE debt)(840,848)(844,458)
CSSC VIE debt - FLNG Hilli facility (1)
(353,455)(396,125)
Total debt (gross)(1,194,303)(1,240,583)
Less: Deferred financing costs
20,711 23,853 
Total debt, net of deferred financing costs(1,173,592)(1,216,730)

At June 30, 2024, our debt, net of deferred financing costs, is broken down as follows:
Golar debt
VIE debt (2)
Total debt
(in thousands of $) 
Current portion of long-term debt and short-term debt(66,111)(287,223)(353,334)
Long-term debt(756,729)(63,529)(820,258)
Total(822,840)(350,752)(1,173,592)
(1) These amounts relate to a certain lessor entity (for which legal ownership resides with a financial institution) that we are required to consolidate into our financial statements as a VIE (note 11).
v3.24.2.u1
Other Current Liabilities
 6 Months Ended
Jun. 30, 2024
Other Liabilities Disclosure [Abstract]  
Other current liabilities OTHER CURRENT LIABILITIES
Other current liabilities are comprised of the following:
(in thousands of $)June 30, 2024December 31, 2023
Day 1 gain deferred revenue - current portion (1) (note 19)
(12,783)(12,783)
Deferred revenue(4,220)(4,220)
Current portion of operating lease liability(1,548)(1,462)
Other payables (2)
(6,458)(32,485)
Other current liabilities(25,009)(50,950)
(1) Current portion of Day 1 gain deferred on initial recognition of the oil and gas derivative instruments embedded in the LTA (note 5). As of June 30, 2024, the Day 1 gain deferred revenue - current portion relating to FLNG Hilli’s oil and gas derivative instruments is $10.0 million and $2.8 million, respectively (December 31, 2023: $10.0 million and $2.8 million).
(2) Included in “Other payables” as of June 30, 2024 and December 31, 2023 is pre-commissioning contractual cash flow in relation to the Gimi LOA of $nil and $30.5 million respectively (note 14).
v3.24.2.u1
Other Non-Current Liabilities
 6 Months Ended
Jun. 30, 2024
Other Liabilities Disclosure [Abstract]  
Other non-current liabilities OTHER NON-CURRENT LIABILITIES
Other non-current liabilities are comprised of the following:
(in thousands of $)June 30, 2024December 31, 2023
Pension obligations(21,999)(23,471)
Day 1 gain deferred revenue (1)
(12,926)(19,179)
Non-current portion of operating lease liabilities(6,212)(5,881)
Deferred commissioning period revenue (2)
(4,222)(6,276)
Other payables (3)
(6,971)(6,793)
Other non-current liabilities(52,330)(61,600)
(1) Non-current portion of Day 1 gain deferred on initial recognition of the oil and gas derivative instruments embedded in the LTA (note 7). As of June 30, 2024, the non-current portion of the Day 1 gain deferred revenue relating to FLNG Hilli’s oil and gas derivative instruments is $10.0 million and $2.9 million, respectively (December 31, 2023: $14.8 million and $4.4 million).

(2) The Customer’s billing during the commissioning period, prior to vessel acceptance and commencement of the LTA, which is considered an upfront payment for services. These amounts billed are recognized as part of “Liquefaction services revenue” in the unaudited consolidated statements of operations evenly over the LTA contract term, with this commencing on the Customer’s acceptance of the FLNG Hilli. The current portion of deferred commissioning period billing is included in “Other current liabilities” (note 18).

(3) Included in “Other payables” as of June 30, 2024 and December 31, 2023 is an asset retirement obligation of $6.2 million and $6.0 million, respectively. The corresponding mooring asset of $4.7 million is recorded within “Vessels and equipment, net” in the unaudited consolidated balance sheets.
v3.24.2.u1
Financial Instruments
 6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Financial instruments FINANCIAL INSTRUMENTS
Fair values
We recognize our fair value estimates using a fair value hierarchy based on the inputs used to measure fair value. The fair value hierarchy has three levels based on reliability of inputs used to determine fair value as follows:

Level 1: Quoted market prices in active markets for identical assets and liabilities.
Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.
Level 3: Unobservable inputs that are not corroborated by market data.

The carrying values and estimated fair values of our financial instruments at June 30, 2024 and December 31, 2023 are as follows:

June 30, 2024December 31, 2023
(in thousands of $)Fair value
hierarchy		Carrying valueFair valueCarrying valueFair value
Non-Derivatives:
Cash and cash equivalents (1) (2)
Level 1527,591 527,591 679,225 679,225 
Restricted cash and short-term deposits (1)
Level 193,930 93,930 92,245 92,245 
Trade accounts receivable (3)
Level 131,511 31,511 38,915 38,915 
Interest receivable from money-market deposits and bank accounts (3)
Level 14,059 4,059 3,929 3,929 
Receivable from TTF linked commodity swap derivatives (3)
Level 1— — 7,581 7,581 
Receivable from IRS derivatives (3)
Level 12,340 2,340 2,461 2,461 
Trade accounts payable (3)
Level 1(88,985)(88,985)(7,454)(7,454)
Current portion of long-term debt and short-term debt (3) (4) (5)
Level 2(356,931)(356,931)(343,781)(343,781)
Long-term debt (4) (5)
Level 2(637,467)(637,467)(696,933)(696,933)
Long-term debt - Unsecured Bonds (4) (6)
Level 1(199,905)(199,184)(199,869)(197,906)
June 30, 2024December 31, 2023
(in thousands of $)Fair value
hierarchy		Carrying valueFair valueCarrying valueFair value
Derivatives:
Oil and gas derivative instruments (7)
Level 2169,408 169,408 159,611 159,611 
Asset on IRS derivatives (8)
Level 241,142 41,142 39,387 39,387 
Asset on TTF linked commodity swap derivatives (8)
Level 224,378 24,378 48,079 48,079 

(1) These instruments carrying value are highly liquid and deemed reasonable estimates of fair value.

(2) Included within cash and cash equivalents of $527.6 million and $679.2 million are $445.9 million and $481.7 million held in short-term money-market deposits as of June 30, 2024 and December 31, 2023, respectively. During the six months ended June 30, 2024 and 2023, we earned interest income on short-term money-market deposits of $13.4 million and $17.8 million, respectively.

(3) These instruments are considered to be equal to their estimated fair value because of their near term maturity.

(4) Our debt obligations are recorded at amortized cost. The amounts presented in the table above are gross of the deferred financing costs of $20.7 million and $23.9 million at June 30, 2024 and December 31, 2023, respectively.

(5) The estimated fair values for both the floating long-term debt and short-term debt are considered to be equal to the carrying value since they bear variable interest rates, which are adjusted on a quarterly basis.  

(6) The estimated fair values of our Unsecured Bonds are based on their quoted market prices as of the balance sheet date.

(7) The fair value of the oil and gas derivative instruments is determined using the estimated discounted cash flows of the additional payments due to us as a result of oil and gas prices moving above the contractual floor price over the remaining term of the LTA. Significant inputs used in the valuation of the oil and gas derivative instruments include the Euro/U.S. Dollar exchange rates based on the forex forward curve for the gas derivative instrument and management’s estimate of an appropriate discount rate and the length of time necessary to blend the long-term and short-term oil and gas prices obtained from quoted prices in active markets.

(8) The fair value of certain derivative instruments is the estimated amount that we would receive or pay to terminate the agreements at the balance sheet date, taking into account current interest rates, foreign exchange rates, closing quoted market prices and our creditworthiness and that of our counterparties. The credit exposure of certain derivative instruments is represented by the fair value of contracts with a positive value at the end of each period, reduced by the effects of master netting arrangements.

As of June 30, 2024, we were party to the following interest rate swap transactions involving the payment of fixed rates in exchange for SOFR as summarized below:

Instrument
Notional value (in thousands of $)
Maturity datesFixed interest rates
Interest rate swaps:
  Receiving floating, pay fixed
538,958
March 2025 to November 2029
1.93% - 2.37%

Commodity price risk management

Although the LTA bills at a base rate of $60.00 per barrel over the contract term for 1.2 million tonnes out of the base capacity of 1.44 million tonnes of LNG, we bear no downside risk to the movement of oil prices should the oil price move below $60.00. Pursuant to LTA Amendment 3, the remaining 0.2 million tonnes of LNG is linked to the TTF index and the Euro/U.S. Dollar foreign exchange movements.

We have entered into commodity swaps to economically hedge our exposure to a portion of FLNG Hilli’s tolling fee that is linked to the TTF index, by swapping variable cash receipts that are linked to the TTF index for anticipated future production volumes with fixed payments from our TTF swap counterparties. We have entered into master netting agreements with our counterparties and are subject to nominal credit risk as these transactions are settled on a daily margin basis with investment-grade institutions.
InstrumentNotional quantity (MMBtu)Maturity dateFixed price/MMBtu
Commodity swap derivatives:   
Receiving fixed, pay floating806,502
2024
$51.20
Receiving floating, pay fixed806,502
2024
$20.55
v3.24.2.u1
Related Party Transactions
 6 Months Ended
Jun. 30, 2024
Related Party Transactions [Abstract]  
Related party transactions RELATED PARTY TRANSACTIONS
a) Transactions with existing related parties:

Amounts due from related parties as of June 30, 2024 and December 31, 2023 consisted of the following:

(in thousands of $)June 30, 2024December 31, 2023
Avenir
7,525 7,312 
Non-current amounts due from Avenir are comprised primarily of unpaid debt guarantee fees, a revolving shareholder loan and related interest and fees.
In 2021, we entered into a revolving shareholder loan which was extended to November 2025. The facility bears a fixed interest rate of 7%. As of June 30, 2024, the shareholder loan of $5.3 million is fully drawn and the total interest receivables amounted to $0.2 million and $0.1 million for the six months ended June 30, 2024 and 2023, respectively. Avenir also entered into agreements to compensate Golar in relation to the provision of certain debt guarantees relating to Avenir and its subsidiaries, amounting to $0.1 million and $0.1 million for the six months ended June 30, 2024 and 2023, respectively.

b) Transactions with former related parties

Following the sale of our CoolCo shares in March 2023, CoolCo ceased to be a related party and subsequent transactions with CoolCo and its subsidiaries were treated as third-party transactions and settled under normal payment terms.

Summarized below are the transactions with CoolCo and its subsidiaries for the period from January 1, 2023 to March 2, 2023:

(in thousands of $)
Period ended January 1, 2023 to March 2, 2023
Management and administrative services revenue
588 
Ship management fees expense
(333)
Debt guarantee fees
175 
Commitment fees
21 
Total451 
v3.24.2.u1
Other Commitments and Contingencies
 6 Months Ended
Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Other commitments and contingencies OTHER COMMITMENTS AND CONTINGENCIES
Assets pledged
(in thousands of $)June 30, 2024December 31, 2023
Book value of vessels secured against loans (1)
1,126,078 1,075,018 
(1) This excludes the FLNG Gimi which is classified as “Assets under development” (note 14) and secured against its specific debt facility (note 17).
Capital Commitments

•FLNG conversion
We have agreed to contract terms for the conversion of a generic LNG carrier to an FLNG which is subject to certain payments and lodging of a full notice to proceed. We have also provided a guarantee to cover the sub-contractor’s obligations in connection with the conversion of the vessel. If we do not proceed with the conversion, we may be liable for certain termination payments.

•MKII FLNG
In 2022, our Board of Directors approved up to $328.5 million of capital expenditures for the MKII FLNG. As of June 30, 2024, we entered into agreements for engineering services and long lead items amounting to $108.2 million (note 16).

•Macaw F2X build
As of June 30, 2024, we entered into agreements for engineering services and long lead items amounting to $6.8 million (note 16).
v3.24.2.u1
Subsequent Events
 6 Months Ended
Jun. 30, 2024
Subsequent Events [Abstract]  
Subsequent events SUBSEQUENT EVENTS
Since June 30, 2024, the following non-recognized events have occurred:

•Gimi’s LOA Amendment Deed

On August 3, 2024, we entered into an LOA Amendment Deed to resolve the ongoing LOA contract interpretation dispute (the “Amendment Deed”). The Amendment Deed simplified the contractual cash flows and settled previous disputes related to payment mechanisms for pre-Commercial Operations Date (“pre-COD”) cashflows and re-aligns both Golar and bp towards the successful completion of the GTA Project and reaching COD. Consequentially, all existing disputes, including the arbitration process have been settled.

The Amendment Deed includes a step-up mechanism for daily payments, which are tied to project milestones pre-COD, secured by defined long-stop dates. Golar will also be entitled to receive lump sum bonus payments upon the achievement of specific project milestones. Under the terms of the Amendment Deed, Golar expects to receive approximately $220 million across 2024 and 2025 in pre-COD compensation inclusive of milestone bonuses, of which approximately $130 million will be invoiced in 2024. The $110 million that Golar has paid bp in liquidated damages for the period up until January 10, 2024 will remain with bp. It is expected that this pre-COD compensation, net of already paid liquidated damages, will be deferred on the balance sheet until COD.

•Dividends

On August 15, 2024, we declared a dividend of $0.25 per share in respect of the three months ended June 30, 2024 to shareholders of record on August 26, 2024, which will be paid on or around September 3, 2024.
v3.24.2.u1
Accounting Policies (Policies)
 6 Months Ended
Jun. 30, 2024
Accounting Policies [Abstract]  
Basis of accounting These unaudited consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). These unaudited consolidated financial statements do not include all of the disclosures required under U.S. GAAP in annual consolidated financial statements, and should be read in conjunction with our audited consolidated annual financial statements for the year ended December 31, 2023, which are included in our annual report on Form 20-F for the fiscal year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission on March 28, 2024.
Contingencies
We may, from time to time, be involved in various legal proceedings, claims, lawsuits and complaints that arise in the ordinary course of business. We will recognize a contingent liability in our consolidated financial statements if the contingency has occurred at the balance sheet date and where we believe that the likelihood of loss was probable and the amount can be reasonably estimated. If we determine that the reasonable estimate of the loss is a range and there is no best estimate within the range, we will recognize the lower amount within the range. A contingent gain is only recognized when the amount is considered realized or realizable. Legal costs are expensed as incurred.
Use of estimates The preparation of our consolidated financial statements requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the balance sheet date, and the reported amounts of revenue and expenses during the reporting period. We base our estimates, judgments and assumptions on our historical experience and on information that we believe to be reasonable under the circumstances at the time they are made. Estimates and assumptions about future events and their effects cannot be perceived with certainty and these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as our operating environment changes. Actual results could differ from these estimates. Estimates are used for, but are not limited to, determining the recoverability of our vessels and asset under development and the valuation of our oil and gas derivative instruments. In assessing the recoverability of our vessels’ carrying amounts, we make assumptions regarding estimated future cash flows, estimates in respect of residual values, charter rates, vessel operating expenses and drydocking requirements.
Adoption of new accounting standards and Accounting pronouncements that have been issued but not yet adopted
Adoption of new accounting standards

In June 2022, the FASB issued ASU 2022-03 Fair Value Measurement (Topic 820) - Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. We adopted this with effect from January 1, 2024. The adoption of ASU 2022-03 had no impact on our consolidated financial statements.

In November 2023, the FASB issued 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. We adopted this with effect from January 1, 2024. The adoption of ASU 2023-07 had no impact on our interim financial statements in 2024. We expect the impact of adoption of ASU 2023-07 to be limited to additional segment disclosures in our annual financial statements in 2024 and in our interim financial statements in 2025.

Accounting pronouncements that have been issued but not yet adopted

The following table provides a brief description of other recent accounting standards that have been issued but not yet adopted as of June 30, 2024:
StandardDescriptionDate of AdoptionEffect on our Consolidated Financial Statements or Other Significant Matters
ASU 2023-05 Business Combinations—Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement
Removes diversity in practice and requires certain joint ventures, upon formation to apply a new basis of accounting consistent with ASC 805 Business Combinations in the joint venturer’s separate financial statements. This guidance is effective for all joint ventures with a formation date on or after January 1, 2025; early adoption is permitted.

January 1, 2025No impact currently expected as a result of the adoption of this ASU.
ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax DisclosuresThese amendments enhance disclosures relating to income taxes, including the income tax rate reconciliation and information related to income taxes paid. The guidance is effective for us on January 1, 2025. Early adoption is permitted. January 1, 2025We are assessing the impact of this ASU. Upon adoption, if material, the impact will be limited to additional disclosure requirements in our annual financial statements in 2025.
v3.24.2.u1
Recently Issued Accounting Standards (Tables)
 6 Months Ended
Jun. 30, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]  
Schedule of new accounting pronouncements and changes in accounting principles
The following table provides a brief description of other recent accounting standards that have been issued but not yet adopted as of June 30, 2024:
StandardDescriptionDate of AdoptionEffect on our Consolidated Financial Statements or Other Significant Matters
ASU 2023-05 Business Combinations—Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement
Removes diversity in practice and requires certain joint ventures, upon formation to apply a new basis of accounting consistent with ASC 805 Business Combinations in the joint venturer’s separate financial statements. This guidance is effective for all joint ventures with a formation date on or after January 1, 2025; early adoption is permitted.

January 1, 2025No impact currently expected as a result of the adoption of this ASU.
ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax DisclosuresThese amendments enhance disclosures relating to income taxes, including the income tax rate reconciliation and information related to income taxes paid. The guidance is effective for us on January 1, 2025. Early adoption is permitted. January 1, 2025We are assessing the impact of this ASU. Upon adoption, if material, the impact will be limited to additional disclosure requirements in our annual financial statements in 2025.
v3.24.2.u1
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Reconciliation of net profit / (loss) to adjusted EBITDA A reconciliation of net income to Adjusted EBITDA for the six months ended June 30, 2024 and 2023 is as follows:
(in thousands of $)20242023
Net income/(loss)
101,725 (85,659)
Income taxes
278 1,697 
Income/(loss) before income taxes
102,003 (83,962)
Depreciation and amortization26,256 25,027 
Impairment of long-lived assets
— 5,021 
Unrealized loss on oil and gas derivative instruments (note 7)
13,902 191,657 
Realized and unrealized mark-to-market losses on investment in listed equity securities
(note 8)
— 62,308 
Other non-operating income, net (note 8)— (9,823)
Interest income(18,582)(23,318)
Interest expense— 972 
Gains on derivative instruments, net (note 9)(6,309)(2,297)
Other financial items, net (note 9)2,694 1,375 
Net losses from equity method investments (note 15)
2,339 296 
Net income from discontinued operations
— (293)
Adjusted EBITDA122,303 166,963 
Segment reporting Information
Six months ended June 30, 2024
(in thousands of $)FLNG
Corporate and other (1)
ShippingTotal results from continuing operations
Statement of Operations:
Total operating revenues112,488 10,830 6,330 129,648 
Vessel operating expenses
(41,549)(10,193)(5,394)(57,136)
Voyage, charterhire and commission expenses, net
— (33)(3,448)(3,481)
Administrative expenses
(437)(12,472)(18)(12,927)
Project development expenses
(2,385)(1,952)(1)(4,338)
Realized gain on oil and gas derivative instruments, net (note 7)
70,537 — — 70,537 
Adjusted EBITDA138,654 (13,820)(2,531)122,303 
Net losses from equity method investments (note 15)
— (2,339)— (2,339)
(1) Includes inter-segment eliminations arising from vessel and administrative management fees revenue between segments.

Balance Sheet:June 30, 2024
(in thousands of $)FLNGCorporate and otherShippingTotal assets
Total assets (1)
3,320,004 669,869 131,145 4,121,018 
Equity method investments (note 15)
— 50,153 — 50,153 
(1) In March 2024, we acquired the Fuji LNG, the donor vessel for Mark II FLNG (“Mark II”) for $77.5 million and consequently reclassified the deposit of $15.5 million from “Other non-current assets” (note 16) to “Vessels and equipment, net”. The Fuji LNG is currently presented under the Shipping segment as she is currently trading as an LNG carrier.

Six months ended June 30, 2023
(in thousands of $)FLNG
Corporate and other (1)
ShippingTotal results from continuing operations
Statement of Operations:
Total operating revenues116,594 24,044 10,860 151,498 
Vessel operating expenses
(31,512)(9,670)(2,100)(43,282)
Voyage, charterhire and commission expenses, net
(300)(19)(141)(460)
Administrative (expenses)/income
(92)(17,979)9 (18,062)
Project development expenses
(2,237)(34,713)— (36,950)
Realized gain on oil and gas derivative instruments, net (note 7)
103,903 — — 103,903 
Other operating income (note 5)
2,499 7,817 — 10,316 
Adjusted EBITDA188,855 (30,520)8,628 166,963 
Net (loss)/income from equity method
investments (note 15)
— (2,610)2,314 (296)
(1) Includes inter-segment eliminations arising from vessel and administrative management fees revenue between segments.
Balance Sheet:December 31, 2023
(in thousands of $)FLNGCorporate and otherShippingTotal assets
Total assets3,160,457 866,088 57,442 4,083,987 
Equity method investments (note 15)
— 53,982 — 53,982 
v3.24.2.u1
Revenue (Tables)
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Disaggregation of revenue
The following table represents a disaggregation of revenue earned from contracts with external customers during the six months ended June 30, 2024 and 2023. Liquefaction services revenue is included under our “FLNG” segment while Vessel management fees and other revenues under our “Corporate and other” segment.
Six months ended June 30,
(in thousands of $)20242023
Base tolling fee (1)
102,251 102,251 
Amortization of deferred commissioning period revenue (2)
2,054 2,043 
Amortization of Day 1 gains (3)
6,253 6,219 
Accrued overproduction revenue (4)
— 4,074 
Incremental base tolling fee (5)
2,500 2,500 
Other (6)
(570)(493)
Liquefaction services revenue
112,488 116,594 
Management fees revenue (7)
10,617 10,114 
Service revenue (8)
— 13,798 
Other revenues
213 132 
Vessel management fees and other revenues
10,830 24,044 
(1) The LTA bills at a base rate in periods when the oil price is $60 or less per barrel, and at an increased rate when the oil price is greater than $60 per barrel. The oil price above the base rate is recognized as a derivative and included in “Realized and unrealized (loss)/gain on oil and gas derivative instruments” in the unaudited consolidated statements of operations (note 7).

(2) Customer billing during the commissioning period, prior to vessel acceptance and commencement of the contract term was deferred (notes 18 and 19) and recognized evenly over the term of the LTA.

(3) Day 1 gains result from amount established on the initial recognition of the FLNG Hilli’s oil derivative instrument embedded in the LTA and the FLNG Hilli’s gas derivative instruments pursuant to the third amendment to the LTA (“LTA Amendment 3”) (notes 18 and 19). These amounts were deferred on initial recognition and amortized evenly over the contract term.

(4) In March 2021, we signed an agreement with the Customer (the “LTA Amendment 2”), to change the contract term from one linked to fixed capacity of 500.0 billion cubic feet to one of a fixed term, terminating on July 18, 2026. This amendment also permits billing adjustments for amounts over or under the annual contracted capacity in a given contract year (“overproduction” or “underutilization”, respectively), commencing from contract year 2019. Amounts for overproduction were invoiced at the end of a given contract year, while amounts for underutilization (which is capped per contract year) will be a reduction against our final invoice to the Customer at the end of the LTA in July 2026.

For the six months ended June 30, 2023, we estimated $6.6 million of overproduction variable consideration. Pursuant to the fourth amendment to the LTA, we agreed with the Customer to increase contract year 2023 annual contracted capacity to offset the 2022 underproduction. The recognition was bifurcated between “Liquefaction services revenue” and “Other operating income” financial statement line items, of $4.1 million and $2.5 million, respectively. There were no comparable amounts for the six months ended June 30, 2024.

(5) In 2021, we entered into LTA Amendment 3 which increased the annual capacity utilization of FLNG Hilli by 0.2 million tonnes of LNG, for the 2022 contract year. In July 2022, the Customer exercised its option pursuant to LTA Amendment 3 for 0.2 million tonnes (out of 0.4 million tonnes) from January 2023 to the end of the LTA. The combined effect results in annual contracted base capacity of 1.4 million tonnes of LNG from January 1, 2022 to the end of the LTA. The tolling fee is linked to TTF and the Euro/U.S. Dollar foreign exchange movements. The contractual floor rate is recognized in “Liquefaction services revenue” and the tolling fee above the contractual floor rate is recognized as a derivative in “Realized and unrealized (loss)/gain on oil and gas derivative instruments,” in the unaudited consolidated statements of operations (note 7).

(6) “Other” comprised of: (i) accrued demurrage costs of $0.3 million and $0.2 million for the six months ended June 30, 2024 and 2023, respectively, which we recognized in the period in which the delay occurred; and (ii) release of deferred liquidated damages recognized prior to the commencement of the LTA of $0.3 million and $0.3 million for the six months ended June 30, 2024 and 2023, respectively.

(7) Comprised of revenue earned from various ship management, administrative and vessel operation and maintenance services we provide to external customers.
(8) In August 2022, we entered into a development agreement with Snam to provide drydocking, site commissioning and hook-up services for the Italis LNG (formerly known as Golar Tundra) (the “Development Agreement”), which it acquired from us in May 2022. The Development Agreement includes contractual fixed payments recognized over the period of time that we provide the services to Snam. We completed the Development Agreement in May 2023 and recognized services revenue of $13.8 million during the six months ended June 30, 2023.
Contract asset and liability
The following table represents our contract assets and liabilities balances as of:

(in thousands of $)June 30, 2024December 31, 2023
Contract assets
21,212 21,403 
Current contract liabilities
(4,220)(4,220)
Non-current contract liabilities
(4,222)(6,276)
Total contract liabilities (1)
(8,442)(10,496)

(in thousands of $)June 30, 2024December 31, 2023
Opening contract liability balance (2)(3)
(10,496)(62,416)
Deferral of revenue (4)
— (2,325)
Recognition of unearned revenue (1)(2)
2,054 44,104 
Recognition of deferred revenue (3)(4)
— 10,141 
Closing contract liability balance(8,442)(10,496)

(1) Included within “Total contract liabilities” is the deferred commissioning revenue in relation to the FLNG Hilli of $8.4 million as of June 30, 2024 (December 31, 2023: $10.5 million) (note 18 and 19). We expect to recognize liquefaction services revenue related to the partially unsatisfied performance obligation at the reporting date evenly over the remaining LTA contract term of two years.

(2) Due to a production shortfall of the FLNG Hilli for the 2022 contract year, we recognized a non-current contract liability for underutilization of $35.8 million which was fully unwound in 2023 following delivery of contract year 2023 annual LNG production.

(3) Pursuant to the Arctic SPA, upon receipt of a notice to proceed, we were to convert LNG carrier Golar Arctic to an FSRU which would lead to her eventual sale to Snam. The Arctic SPA included contractual fixed payments (recognized over the period of time that we would have provided the services to Snam). In June 2023, Snam’s option to issue the notice to proceed lapsed and in accordance with the Arctic SPA, we retained and recognized the first advance payment of $7.8 million and presented in “Other operating income” in the unaudited consolidated statements of operations.
(4) Included in “deferral of revenue” as of December 31, 2023 in the reconciliation of contract liabilities table above, is the deposit of $2.3 million received for the sale of the Gandria in May 2023, which subsequently completed in November 2023.
v3.24.2.u1
Earnings/(Loss) Per Share (Tables)
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Schedule of (losses) earnings per share
The components of the numerator for the calculation of basic and diluted EPS/(LPS) are as follows:
Six months ended June 30,
(in thousands of $)20242023
Net income/(loss) net of non-controlling interests - continuing operations - basic and diluted
81,127 (106,701)
Net income net of non-controlling interests - discontinued operations - basic and diluted
— 293 
The components of the denominator for the calculation of basic and diluted EPS/(LPS) are as follows:
Six months ended June 30,
(in thousands of $)20242023
Basic:
Weighted average number of common shares outstanding104,278 107,337 
Dilutive:
Dilutive impact of share options and RSUs (1)
724 618 
Weighted average number of common shares outstanding105,002 107,955 

EPS/(LPS) per share are as follows:
Six months ended June 30,
20242023
Basic EPS/(LPS) from continuing operations
$0.78 $(0.99)
Diluted EPS/(LPS) from continuing operations (1)
$0.77 $(0.99)
Basic and diluted EPS from discontinued operations
$— 0.00
(1) The effects of stock awards have been excluded from the calculation of diluted LPS from continuing operations for the six months ended June 30, 2023 because the effects were anti-dilutive.
v3.24.2.u1
Realized and Unrealized Gain/(Loss) on Oil and Gas Derivative Instruments (Tables)
 6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of realized and unrealized gain/(loss) on the oil and gas derivative instruments
The realized and unrealized gain/(loss) on the oil and gas derivative instruments is comprised of the following:    
Six months ended June 30,
20242023
Realized gain on FLNG Hilli’s oil derivative instrument
36,656 36,156 
Realized mark-to-market (“MTM”) adjustment on commodity swap derivatives
24,719 42,066 
Realized gain on FLNG Hilli’s gas derivative instrument
9,162 25,681 
Realized gain on oil and gas derivative instruments, net
70,537 103,903 
Unrealized gain/(loss) on FLNG Hilli’s oil derivative instrument (note 16)
15,092 (74,840)
Unrealized loss on FLNG Hilli’s gas derivative instrument (note 16)
(5,294)(94,642)
Unrealized MTM adjustment on commodity swap derivatives (23,700)(22,175)
Unrealized loss on oil and gas derivative instruments
(13,902)(191,657)
Realized and unrealized gain/(loss) on oil and gas derivative instruments
56,635 (87,754)
v3.24.2.u1
Other Non-Operating Losses (Tables)
 6 Months Ended
Jun. 30, 2024
Other Income and Expenses [Abstract]  
Schedule of other nonoperating income (expense)
Other non-operating losses are comprised of the following:
Six months ended June 30,
20242023
Realized and unrealized MTM losses on investment in listed equity securities (1)
— (62,308)
Dividend income from our investment in listed equity securities
— 9,823 
Other non-operating losses
— (52,485)
(1) During the six months ended June 30, 2023, we sold 1.2 million shares of Class A NFE common shares (“NFE Shares”) at a price range between $36.90 and $40.38 per share for an aggregate consideration of $45.6 million which resulted to $62.3 million realized MTM losses. We also disposed of our remaining 4.1 million NFE Shares that were applied as partial consideration for the repurchase of 1,230 common units in Golar Hilli LLC “Hilli LLC” from NFE, which NFE acquired pursuant to the sale of our investment in Golar LNG Partners LP (“Golar Partners”) to NFE in April 2021. Following these transactions, we no longer hold any listed equity securities.
v3.24.2.u1
Gains on Derivative Instruments and Other Financial Items, Net (Tables)
 6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of derivative instruments
Gains on derivative instruments, net are comprised of the following:
(in thousands of $)Six months ended June 30,
20242023
Net interest income on undesignated interest rate swap (“IRS”) derivatives
4,555 3,750 
Unrealized MTM adjustment for IRS derivatives1,754 (1,453)
Gains on derivative instruments, net6,309 2,297 
Components of other financial items
Other financial items, net is comprised of the following:
(in thousands of $)Six months ended June 30,
20242023
Amortization of debt guarantees (1)
827 1,034 
Foreign exchange gain/(loss) on operations
460 (1,427)
Financing arrangement fees and other related costs (2)
(3,768)(799)
Others(213)(183)
Other financials items, net(2,694)(1,375)
(1) “Amortization of debt guarantees” relates to guarantee fees earned for the provision of (i) charter guarantees to Energos and (ii) debt guarantees for certain of CoolCo's outstanding sale and leaseback debts amounting to $159.6 million.
(2) Included within “Financing arrangement fees and other related costs” for the six months ended June 30, 2024 is $3.7 million financial charges incurred by the FLNG Hilli's lessor VIE.
v3.24.2.u1
Operating Leases (Tables)
 6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Schedule of operating lease income
The components of operating lease income were as follows:
Six months ended June 30,
(in thousands of $)20242023
Operating lease income3,581 10,860 
Variable lease income (1)
2,749 — 
Total operating lease income (2)
6,330 10,860 
(1) “Variable lease income” is excluded from lease payments that comprise the minimum contractual future revenues from non-cancellable operating leases.
(2) Total operating lease income is presented in the unaudited consolidated statement of operations line item “Time and voyage charter revenues.”
v3.24.2.u1
Variable Interest Entities ("VIEs") (Tables)
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of bareboat charters
A summary of our payment obligations (excluding repurchase options and obligations) under the bareboat charter with the lessor VIE as of June 30, 2024, is shown below:

(in thousands of $)
2024(1)
202520262027
2028
2029+
Hilli (2)
42,09582,20179,07776,04372,830274,766
(1) For the six months ending December 31, 2024.

(2) The payment obligations above include contractual capital and variable rental payments due under the lease.
Schedule of variable interest entities
The assets and liabilities of the lessor VIE that most significantly impact our unaudited consolidated balance sheet as of June 30, 2024 and December 31, 2023, are as follows:

(in thousands of $)June 30, 2024December 31, 2023
Assets
Restricted cash and short-term deposits17,590 18,085 
Liabilities
Total debt (1):
(350,752)(393,193)
Current portion of long-term debt and short-term debt
(287,223)(299,576)
Long-term debt
(63,529)(93,617)
(1) Where applicable, these balances are net of deferred finance charges.
The most significant impact of the lessor VIE’s operations on our unaudited consolidated statements of operations and unaudited consolidated statements of cash flows for the six months ended June 30, 2024 and 2023 are as follows:
(in thousands of $)20242023
Continuing operations
Statement of operations
Other financial items, net (note 9)
3,749 — 
Interest expense10,381 5,273 
Statement of cash flows
Net debt repayments(42,670)(52,359)
Financing costs paid— (3,150)
The assets and liabilities of Hilli LLC(1) that most significantly impact our unaudited consolidated balance sheets are as follows:

(in thousands of $)June 30, 2024December 31, 2023
Balance sheet
Current assets83,927 70,461 
Non-current assets1,198,071 1,212,922 
Current liabilities(341,173)(342,480)
Non-current liabilities(86,889)(125,094)
(1) Balances are inclusive of the Hilli Lessor VIE.

The most significant impact of the lessor VIE’s operations on our unaudited consolidated statements of operations and unaudited consolidated statements of cash flows for the six months ended June 30, 2024 and 2023 are as follows:

(in thousands of $)20242023
Statement of operations
Liquefaction services revenue112,488 116,594 
Realized and unrealized gain/(loss) on oil and gas derivative instruments
56,635 (87,754)
(in thousands of $)20242023
Statement of changes in equity
Additional paid-in capital (1)
— (251,249)
Non-controlling interest— 35,644 
Statement of cash flows
Reacquisition of common units in Hilli LLC— (100,047)
Net debt repayments(42,670)(52,359)
Financing costs paid— (3,150)
Cash dividends paid(4,737)(17,842)
(1) In March 2023, we repurchased the 1,230 Hilli Common Units, held by Golar Partners from NFE which represents an increase in our ownership interest in Hilli LLC while control is retained. Consequently, a loss of $251.2 million was recorded in equity.
The assets and liabilities of Gimi MS that most significantly impact our unaudited consolidated balance sheets are as follows:

(in thousands of $)June 30, 2024December 31, 2023
Balance sheet
Current assets113,037 17,359 
Non-current assets1,731,916 1,702,148 
Current liabilities(205,493)(168,370)
Non-current liabilities(560,466)(585,678)

The most significant impact of Gimi MS VIE’s operations on our unaudited consolidated statements of cash flows for the six months ended June 30, 2024 and 2023 are as follows:

Six months ended June 30,
(in thousands of $)20242023
Statement of cash flows
Additions to asset under development88,965 138,102 
Capitalized financing costs(569)(1,156)
Net debt receipts— 85,000 
Proceeds from subscription of equity interest27,278 21,118 
Schedule of Other Ownership Interests
As of June 30, 2024 and December 31, 2023, the ownership structure of Hilli LLC is as follows:

Percentage ownership interest
Hilli Common UnitsSeries A Special UnitsSeries B Special Units
Golar LNG Limited94.6 %89.1 %89.1 %
Seatrium5.0 %10.0 %10.0 %
B&V0.4 %0.9 %0.9 %
v3.24.2.u1
Restricted Cash and Short-Term Deposits (Tables)
 6 Months Ended
Jun. 30, 2024
Supplemental Cash Flow Elements [Abstract]  
Restrictions on cash and cash equivalents
Our restricted cash and short-term deposits balances are as follows:
(in thousands of $)June 30, 2024December 31, 2023
Restricted cash in relation to the FLNG Hilli (1)
60,988 60,996 
Restricted cash and short-term deposits held by lessor VIE (2)
17,590 18,085 
Restricted cash relating to the LNG Hrvatska O&M Agreement (3)
12,404 12,083 
Restricted cash in relation to the FLNG Gimi (4)
1,949 — 
Restricted cash relating to office lease999 1,081 
Total restricted cash and short-term deposits93,930 92,245 
Less: Amounts included in current restricted cash and short-term deposits(19,539)(18,115)
Non-current restricted cash74,391 74,130 

(1) In November 2015, in connection with the issuance of a $400 million letter of credit (“LC”) by a financial institution to the Customer of the FLNG Hilli, we recognized an initial cash collateral of $305.0 million to support the FLNG Hilli performance guarantee. Under the provisions of the LC, the terms allow for a stepped reduction in the value of the guarantee over time and a corresponding reduction to the cash collateral requirements. In May 2021, the FLNG Hilli had achieved 3.6 million tonnes of LNG production, reducing the LC to $100.0 million and the cash collateral to $61.0 million as of June 30, 2024. The cash collateral is expected to be restricted until the end of the LTA term.

In November 2016, after we satisfied certain conditions precedent, the LC originally issued with an initial expiration date of December 31, 2018, was re-issued and automatically extends, on an annual basis, until the tenth anniversary of the acceptance date of the FLNG Hilli, unless the bank exercises its option to exit from the arrangement by giving a three months’ notice prior to the next annual renewal date.

(2) These are amounts held by lessor VIE that we are required to consolidate under U.S. GAAP into our financial statements (note 11).

(3) In connection with the LNG Hrvatska O&M Agreement, we are required to maintain two performance guarantees, one in the amount of $9.7 million (€9.1 million) and one in the amount of $1.3 million, both of which will remain restricted throughout the 10-year term until December 2030.
(4) In 2019, we entered into a $700 million facility agreement with a group of lenders to finance the conversion of the FLNG Gimi. Restricted cash requirements under the facility agreement provide additional security to the lenders before and post FLNG Gimi’s commercial operations date (“COD”). Pre-COD, all earnings are required to be restricted, however it can be released for debt service obligations subject to lenders' approval. Post-COD these earnings will be released through a waterfall mechanism, as stipulated in the debt facility agreement.
v3.24.2.u1
Other Current Assets (Tables)
 6 Months Ended
Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of other current assets
Other current assets consist of the following:
(in thousands of $)June 30, 2024December 31, 2023
MTM asset on TTF linked commodity swap derivatives (note 20)
24,378 48,079 
Interest receivable from money market deposits and bank accounts (note 20)
4,059 3,929 
Prepaid expenses3,322 2,292 
Inventories
2,557 1,990 
Receivable from IRS derivatives2,340 2,461 
MTM asset on IRS derivatives (note 20)
2,089 2,697 
Receivable from TTF linked commodity swap derivatives— 7,581 
Others (1)
107,720 2,968 
Other current assets146,465 71,997 
(1) Included within “Others” as of June 30, 2024 is the reclassification of the pre-commissioning net contractual cash flow in relation to the Gimi LOA of $92.6 million from “Other non-current assets” in alignment with the FLNG Gimi’s expected COD in mid-2025.
v3.24.2.u1
Asset Under Development (Tables)
 6 Months Ended
Jun. 30, 2024
Extractive Industries [Abstract]  
Schedule for assets under development
(in thousands of $)June 30, 2024December 31, 2023
Opening asset under development balance1,562,828 1,152,032 
Additions85,363 338,327 
Interest costs capitalized44,663 72,469 
Closing asset under development balance1,692,854 1,562,828 
Schedule of fiscal year maturity As of June 30, 2024, the estimated timing of the outstanding payments is as follows:
(in thousands of $)
Period ending December 31,
2024 (1)
175,937 
2025
53,565 
Total229,502 
(1) For the six months ending December 31, 2024.
v3.24.2.u1
Equity Method Investments (Tables)
 6 Months Ended
Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of equity method investments
Six months ended June 30,
(in thousands of $)20242023
Share of net losses of Avenir LNG Limited (“Avenir”)
(2,503)(2,879)
Share of net income of CoolCo— 1,491 
Share of net income of other equity method investments682 269 
(Loss)/gain on disposal (1)
(518)823 
Net losses from equity method investments
(2,339)(296)

The carrying values of our equity method investments as of June 30, 2024 and December 31, 2023 are as follows:

(in thousands of $)June 30, 2024December 31, 2023
Avenir
34,152 35,729 
Logística e Distribuição de Gás S.A. (“LOGAS”)
8,340 9,261 
Egyptian Company for Gas Services S.A.E (“ECGS”)
5,509 5,237 
Aqualung Carbon Capture AS (“Aqualung”)
2,152 2,244 
MGAS Comercializadora de Gás Natural Ltda. (“MGAS”) (2)
— 1,511 
Equity method investments50,153 53,982 
(1) In March 2023, we sold 4.5 million of our CoolCo shares at NOK 130/$12.60 per share for net consideration of $56.1 million, inclusive of $0.1 million fees. As of June 30, 2024, following the sale of our CoolCo shares, we retain one common share in CoolCo which is required by debt covenants relating to the guarantees we continue to provide CoolCo. The gain on disposal of $0.8 million is included in the unaudited consolidated statement of operations line-item “Net income/(losses) from equity method investments.”

(2) In May 2024, Macaw Energies Brasil Servicos de Gás Natural Ltda, our wholly owned subsidiary, completed the disposal of its 51% equity interest in MGAS for a consideration of $0.8 million (BRL4.25 million). The loss on disposal of $0.5 million is included in the unaudited consolidated statement of operations line-item “Net income/(losses) from equity method investments.”
v3.24.2.u1
Other Non-Current Assets (Tables)
 6 Months Ended
Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Components of other non-current assets
Other non-current assets are comprised of the following:
(in thousands of $) June 30, 2024December 31, 2023
Pre-operational assets (1)
223,557 189,023 
Oil derivative instrument (note 20)
121,040 105,948 
Gas derivative instrument (note 20)
48,368 53,663 
MTM asset on IRS derivatives (note 20)
39,053 36,690 
Operating lease right-of-use-assets (2)
7,895 7,386 
Others (3)
1,376 107,096 
Other non-current assets441,289 499,806 
(1) As of June 30, 2024, “Pre-operational assets” comprised of:
•MKII FLNG project capitalized engineering costs, long lead items and deposit for a donor vessel of $77.2 million, $138.3 million and $nil, respectively (December 31, 2023: $59.4 million, $109.8 million and $15.5 million, respectively). The donor vessel, Fuji LNG, was acquired on March 4, 2024 for total consideration of $77.5 million. Consequently, the deposit for the donor vessel of $15.5 million was reclassified from “Other non-current assets” to “Vessels and equipment, net” of the unaudited consolidated balance sheets.
•F2X project capitalized engineering and other directly attributable costs of $8.0 million (December 31, 2023: $4.4 million).
(2) “Operating lease right-of-use-assets” mainly comprised of our office leases in London and Oslo.
(3) Included within “Others” as of June 30, 2024 and December 31, 2023 are pre-commissioning contractual cash flows in relation to the Gimi LOA of $nil and $105.4 million, respectively. As mentioned in note 13, the reclassification of the pre-commissioning net contractual cash flow to “Other current assets” was in alignment with the FLNG Gimi’s expected COD in mid-2025.
.
v3.24.2.u1
Debt (Tables)
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Schedule of components of debt
As of June 30, 2024 and December 31, 2023, our debt was as follows:
(in thousands of $)June 30, 2024December 31, 2023
Gimi facility (note 14.1)
(630,000)(630,000)
Unsecured Bonds
(199,905)(199,869)
Golar Arctic facility
(10,943)(14,589)
Subtotal (excluding lessor VIE debt)(840,848)(844,458)
CSSC VIE debt - FLNG Hilli facility (1)
(353,455)(396,125)
Total debt (gross)(1,194,303)(1,240,583)
Less: Deferred financing costs
20,711 23,853 
Total debt, net of deferred financing costs(1,173,592)(1,216,730)

At June 30, 2024, our debt, net of deferred financing costs, is broken down as follows:
Golar debt
VIE debt (2)
Total debt
(in thousands of $) 
Current portion of long-term debt and short-term debt(66,111)(287,223)(353,334)
Long-term debt(756,729)(63,529)(820,258)
Total(822,840)(350,752)(1,173,592)
(1) These amounts relate to a certain lessor entity (for which legal ownership resides with a financial institution) that we are required to consolidate into our financial statements as a VIE (note 11).
v3.24.2.u1
Other Current Liabilities (Tables)
 6 Months Ended
Jun. 30, 2024
Other Liabilities Disclosure [Abstract]  
Schedule of other current liabilities
Other current liabilities are comprised of the following:
(in thousands of $)June 30, 2024December 31, 2023
Day 1 gain deferred revenue - current portion (1) (note 19)
(12,783)(12,783)
Deferred revenue(4,220)(4,220)
Current portion of operating lease liability(1,548)(1,462)
Other payables (2)
(6,458)(32,485)
Other current liabilities(25,009)(50,950)
(1) Current portion of Day 1 gain deferred on initial recognition of the oil and gas derivative instruments embedded in the LTA (note 5). As of June 30, 2024, the Day 1 gain deferred revenue - current portion relating to FLNG Hilli’s oil and gas derivative instruments is $10.0 million and $2.8 million, respectively (December 31, 2023: $10.0 million and $2.8 million).
(2) Included in “Other payables” as of June 30, 2024 and December 31, 2023 is pre-commissioning contractual cash flow in relation to the Gimi LOA of $nil and $30.5 million respectively (note 14).
v3.24.2.u1
Other Non-Current Liabilities (Tables)
 6 Months Ended
Jun. 30, 2024
Other Liabilities Disclosure [Abstract]  
Other Noncurrent Liabilities
Other non-current liabilities are comprised of the following:
(in thousands of $)June 30, 2024December 31, 2023
Pension obligations(21,999)(23,471)
Day 1 gain deferred revenue (1)
(12,926)(19,179)
Non-current portion of operating lease liabilities(6,212)(5,881)
Deferred commissioning period revenue (2)
(4,222)(6,276)
Other payables (3)
(6,971)(6,793)
Other non-current liabilities(52,330)(61,600)
(1) Non-current portion of Day 1 gain deferred on initial recognition of the oil and gas derivative instruments embedded in the LTA (note 7). As of June 30, 2024, the non-current portion of the Day 1 gain deferred revenue relating to FLNG Hilli’s oil and gas derivative instruments is $10.0 million and $2.9 million, respectively (December 31, 2023: $14.8 million and $4.4 million).

(2) The Customer’s billing during the commissioning period, prior to vessel acceptance and commencement of the LTA, which is considered an upfront payment for services. These amounts billed are recognized as part of “Liquefaction services revenue” in the unaudited consolidated statements of operations evenly over the LTA contract term, with this commencing on the Customer’s acceptance of the FLNG Hilli. The current portion of deferred commissioning period billing is included in “Other current liabilities” (note 18).

(3) Included in “Other payables” as of June 30, 2024 and December 31, 2023 is an asset retirement obligation of $6.2 million and $6.0 million, respectively. The corresponding mooring asset of $4.7 million is recorded within “Vessels and equipment, net” in the unaudited consolidated balance sheets.
v3.24.2.u1
Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of carrying values and estimated fair values of debt instruments
The carrying values and estimated fair values of our financial instruments at June 30, 2024 and December 31, 2023 are as follows:

June 30, 2024December 31, 2023
(in thousands of $)Fair value
hierarchy		Carrying valueFair valueCarrying valueFair value
Non-Derivatives:
Cash and cash equivalents (1) (2)
Level 1527,591 527,591 679,225 679,225 
Restricted cash and short-term deposits (1)
Level 193,930 93,930 92,245 92,245 
Trade accounts receivable (3)
Level 131,511 31,511 38,915 38,915 
Interest receivable from money-market deposits and bank accounts (3)
Level 14,059 4,059 3,929 3,929 
Receivable from TTF linked commodity swap derivatives (3)
Level 1— — 7,581 7,581 
Receivable from IRS derivatives (3)
Level 12,340 2,340 2,461 2,461 
Trade accounts payable (3)
Level 1(88,985)(88,985)(7,454)(7,454)
Current portion of long-term debt and short-term debt (3) (4) (5)
Level 2(356,931)(356,931)(343,781)(343,781)
Long-term debt (4) (5)
Level 2(637,467)(637,467)(696,933)(696,933)
Long-term debt - Unsecured Bonds (4) (6)
Level 1(199,905)(199,184)(199,869)(197,906)
June 30, 2024December 31, 2023
(in thousands of $)Fair value
hierarchy		Carrying valueFair valueCarrying valueFair value
Derivatives:
Oil and gas derivative instruments (7)
Level 2169,408 169,408 159,611 159,611 
Asset on IRS derivatives (8)
Level 241,142 41,142 39,387 39,387 
Asset on TTF linked commodity swap derivatives (8)
Level 224,378 24,378 48,079 48,079 

(1) These instruments carrying value are highly liquid and deemed reasonable estimates of fair value.

(2) Included within cash and cash equivalents of $527.6 million and $679.2 million are $445.9 million and $481.7 million held in short-term money-market deposits as of June 30, 2024 and December 31, 2023, respectively. During the six months ended June 30, 2024 and 2023, we earned interest income on short-term money-market deposits of $13.4 million and $17.8 million, respectively.

(3) These instruments are considered to be equal to their estimated fair value because of their near term maturity.

(4) Our debt obligations are recorded at amortized cost. The amounts presented in the table above are gross of the deferred financing costs of $20.7 million and $23.9 million at June 30, 2024 and December 31, 2023, respectively.

(5) The estimated fair values for both the floating long-term debt and short-term debt are considered to be equal to the carrying value since they bear variable interest rates, which are adjusted on a quarterly basis.  

(6) The estimated fair values of our Unsecured Bonds are based on their quoted market prices as of the balance sheet date.

(7) The fair value of the oil and gas derivative instruments is determined using the estimated discounted cash flows of the additional payments due to us as a result of oil and gas prices moving above the contractual floor price over the remaining term of the LTA. Significant inputs used in the valuation of the oil and gas derivative instruments include the Euro/U.S. Dollar exchange rates based on the forex forward curve for the gas derivative instrument and management’s estimate of an appropriate discount rate and the length of time necessary to blend the long-term and short-term oil and gas prices obtained from quoted prices in active markets.
(8) The fair value of certain derivative instruments is the estimated amount that we would receive or pay to terminate the agreements at the balance sheet date, taking into account current interest rates, foreign exchange rates, closing quoted market prices and our creditworthiness and that of our counterparties. The credit exposure of certain derivative instruments is represented by the fair value of contracts with a positive value at the end of each period, reduced by the effects of master netting arrangements.
Schedule of designated cash flow hedges
As of June 30, 2024, we were party to the following interest rate swap transactions involving the payment of fixed rates in exchange for SOFR as summarized below:

Instrument
Notional value (in thousands of $)
Maturity datesFixed interest rates
Interest rate swaps:
  Receiving floating, pay fixed
538,958
March 2025 to November 2029
1.93% - 2.37%
Schedule of net investment hedges, statements of financial performance and financial position, location
InstrumentNotional quantity (MMBtu)Maturity dateFixed price/MMBtu
Commodity swap derivatives:   
Receiving fixed, pay floating806,502
2024
$51.20
Receiving floating, pay fixed806,502
2024
$20.55
v3.24.2.u1
Related Party Transactions (Tables)
 6 Months Ended
Jun. 30, 2024
Related Party Transactions [Abstract]  
Disclosure of transactions with existing related parties
Amounts due from related parties as of June 30, 2024 and December 31, 2023 consisted of the following:

(in thousands of $)June 30, 2024December 31, 2023
Avenir
7,525 7,312 
Disclosure of transactions with former related parties
Summarized below are the transactions with CoolCo and its subsidiaries for the period from January 1, 2023 to March 2, 2023:

(in thousands of $)
Period ended January 1, 2023 to March 2, 2023
Management and administrative services revenue
588 
Ship management fees expense
(333)
Debt guarantee fees
175 
Commitment fees
21 
Total451 
v3.24.2.u1
Other Commitments and Contingencies (Tables)
 6 Months Ended
Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of assets pledged
Assets pledged
(in thousands of $)June 30, 2024December 31, 2023
Book value of vessels secured against loans (1)
1,126,078 1,075,018 
(1) This excludes the FLNG Gimi which is classified as “Assets under development” (note 14) and secured against its specific debt facility (note 17).
v3.24.2.u1
General (Details) - LNG carrier
Jun. 30, 2024
vessel
FLNG  
Property, Plant and Equipment [Line Items]  
Number of carriers owned and operated 2
LNG carrier  
Property, Plant and Equipment [Line Items]  
Number of carriers owned and operated 2
v3.24.2.u1
Segment Information - Narrative (Details)
 6 Months Ended
Jun. 30, 2024
operational_flng
undergoing_conversion
segment
Segment Reporting [Abstract]  
Number of reportable segments | segment 3
Number of operational FLNG | operational_flng 1
Number of undergoing conversions | undergoing_conversion 1
v3.24.2.u1
Segment Information - Reconciliation (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Segment Reporting Information [Line Items]    
Net income/(loss) $ 101,725 $ (85,659)
Income taxes 278 1,697
Income/(loss) before income taxes 102,003 (83,962)
Depreciation and amortization 26,256 25,027
Impairment of long-lived assets 0 5,021
Unrealized loss on oil and gas derivative instruments (note 7) (56,635) 87,754
Realized and unrealized mark-to-market losses on investment in listed equity securities (note 8) 0 62,308
Other non-operating income, net 0 (9,823)
Interest income (18,582) (23,318)
Interest expense 0 972
Gains on derivative instruments, net (6,309) (2,297)
Other financial items, net 2,694 1,375
Net losses from equity method investments (note 15) 2,339 296
Net income from discontinued operations 0 (293)
Adjusted EBITDA 122,303 166,963
Oil and gas derivative    
Segment Reporting Information [Line Items]    
Unrealized loss on oil and gas derivative instruments (note 7) $ 13,902 $ 191,657
v3.24.2.u1
Segment Information - Schedule of segments (Details) - USD ($)
$ in Thousands
 6 Months Ended
Mar. 04, 2024
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Income Statement [Abstract]        
Total operating revenues   $ 129,648 $ 151,498  
Vessel operating expenses   (57,136) (43,282)  
Voyage, charterhire and commission expenses, net   (3,481) (460)  
Administrative expenses   (12,927) (18,062)  
Other operating income   0 10,316  
Adjusted EBITDA   122,303 166,963  
Net losses from equity method investments   (2,339) (296)  
Balance sheet        
Total assets   4,121,018   $ 4,083,987
Equity method investments   50,153   53,982
Fuji LNG        
Balance sheet        
Payments to acquire productive assets $ 77,500      
Increase (decrease) in other noncurrent assets (15,500)      
Property, plant and equipment, transfer $ 15,500      
Continuing operations        
Income Statement [Abstract]        
Total operating revenues   129,648 151,498  
Vessel operating expenses   (57,136) (43,282)  
Voyage, charterhire and commission expenses, net   (3,481) (460)  
Administrative expenses   (12,927)    
Administrative (expenses)/income     (18,062)  
Project development expenses   (4,338) (36,950)  
Realized gain on oil and gas derivative instruments, net (note 7)   70,537 103,903  
Other operating income     10,316  
Adjusted EBITDA   122,303 166,963  
Net losses from equity method investments   (2,339) (296)  
Operating segments | Continuing operations        
Income Statement [Abstract]        
Net losses from equity method investments   (2,339) (296)  
Operating segments | FLNG | Continuing operations        
Income Statement [Abstract]        
Total operating revenues   112,488 116,594  
Vessel operating expenses   (41,549) (31,512)  
Voyage, charterhire and commission expenses, net   0 (300)  
Administrative expenses   (437)    
Administrative (expenses)/income     (92)  
Project development expenses   (2,385) (2,237)  
Realized gain on oil and gas derivative instruments, net (note 7)   70,537 103,903  
Other operating income     2,499  
Adjusted EBITDA   138,654 188,855  
Net losses from equity method investments   0 0  
Balance sheet        
Total assets   3,320,004   3,160,457
Equity method investments   0   0
Operating segments | Corporate and other | Continuing operations        
Income Statement [Abstract]        
Total operating revenues   10,830 24,044  
Vessel operating expenses   (10,193) (9,670)  
Voyage, charterhire and commission expenses, net   (33) (19)  
Administrative expenses   (12,472)    
Administrative (expenses)/income     (17,979)  
Project development expenses   (1,952) (34,713)  
Realized gain on oil and gas derivative instruments, net (note 7)   0 0  
Other operating income     7,817  
Adjusted EBITDA   (13,820) (30,520)  
Net losses from equity method investments   (2,339) (2,610)  
Balance sheet        
Total assets   669,869   866,088
Equity method investments   50,153   53,982
Operating segments | Shipping | Continuing operations        
Income Statement [Abstract]        
Total operating revenues   6,330 10,860  
Vessel operating expenses   (5,394) (2,100)  
Voyage, charterhire and commission expenses, net   (3,448) (141)  
Administrative expenses   (18)    
Administrative (expenses)/income     9  
Project development expenses   (1) 0  
Realized gain on oil and gas derivative instruments, net (note 7)   0 0  
Other operating income     0  
Adjusted EBITDA   (2,531) 8,628  
Net losses from equity method investments   0 $ 2,314  
Balance sheet        
Total assets   131,145   57,442
Equity method investments   $ 0   $ 0
v3.24.2.u1
Revenue - Disaggregation of revenue (Details)
$ in Thousands, t in Millions, ft³ in Millions
 1 Months Ended 6 Months Ended
Jul. 31, 2022
t
Jul. 31, 2021
t
Jun. 30, 2024
USD ($)
$ / barrel
Jun. 30, 2023
USD ($)
Mar. 31, 2021
ft³
Disaggregation of Revenue [Line Items]          
Total operating revenues     $ 129,648 $ 151,498  
Oil price per barrel (in usd per barrel) | $ / barrel     60    
Revenue from contract with customer, excluding assessed tax, underutilization       6,600  
Decrease in revenue, demurrage cost     $ 300 200  
Decrease in revenue, liquidated damages     300 300  
Other Operating Income (Expense)          
Disaggregation of Revenue [Line Items]          
Revenue from contract with customer, excluding assessed tax, underutilization       2,500  
Hilli LLC          
Disaggregation of Revenue [Line Items]          
Capacity, cubic feet | ft³         500,000
Expected increase of capacity per annum | t 0.2 0.2      
Expected capacity per annum | t 1.4        
Hilli LLC | Maximum          
Disaggregation of Revenue [Line Items]          
Expected increase of capacity per annum | t 0.4        
Golar Tundra [Member]          
Disaggregation of Revenue [Line Items]          
Total operating revenues       13,800  
Base tolling fee          
Disaggregation of Revenue [Line Items]          
Total operating revenues     102,251 102,251  
Liquefaction services revenue          
Disaggregation of Revenue [Line Items]          
Total operating revenues     112,488 116,594  
Amortization of deferred commissioning period revenue billing     2,054 2,043  
Amortization of day 1 gain     6,253 6,219  
Overproduction revenue     0 4,074  
Revenue from contract with customer     2,500 2,500  
Other     (570) (493)  
Liquefaction services revenue | Sales          
Disaggregation of Revenue [Line Items]          
Revenue from contract with customer, excluding assessed tax, underutilization       4,100  
Vessel management fees and other revenues          
Disaggregation of Revenue [Line Items]          
Total operating revenues     10,830 24,044  
Management fee revenue     10,617 10,114  
Service revenue     0 13,798  
Other revenue     $ 213 $ 132  
v3.24.2.u1
Revenue - Contract assets and liabilities (Details) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2024
Dec. 31, 2023
Jun. 30, 2023
Dec. 31, 2022
Contract assets        
Contract with customer, asset $ 21,212 $ 21,403    
Contract liabilities        
Current contract liabilities 4,220 4,220    
Non current contract liabilities 4,222 6,276    
Total contract liabilities (8,442) (10,496)   $ (62,416)
Deferral of revenue 0 (2,325)    
Recognition of unearned revenue 2,054 44,104    
Recognition of deferred revenue $ 0 10,141    
Gandria        
Contract liabilities        
Deposit liability, current   2,300    
Liquefaction services revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01        
Contract liabilities        
Reaming contract term (in years) 2 years      
Hilli | Deferred Revenue        
Contract liabilities        
Total contract liabilities $ (8,400) $ (10,500)    
Hilli | Underutilization Liability        
Contract liabilities        
Non current contract liabilities       $ 35,800
Golar Artic | Advance Payment Liability        
Contract liabilities        
Non current contract liabilities     $ 7,800  
v3.24.2.u1
Earnings/(Loss) Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Components of the numerator for the calculation of basic and diluted EPS    
Net income/(loss) net of non-controlling interests - continuing operations - basic $ 81,127 $ (106,701)
Net income/(loss) net of non-controlling interests - continuing operations - diluted 81,127 (106,701)
Net (loss)/income net of non-controlling interest - discontinued operations - basic 0 293
Net (loss)/income net of non-controlling interest - discontinued operations - diluted $ 0 $ 293
Weighted average number of shares outstanding    
Weighted average number of common shares outstanding, basic (in shares) 104,278 107,337
Dilutive impact of share options and RSUs (in shares) 724 618
Weighted average number of common shares outstanding, diluted (in shares) 105,002 107,955
Basic EPS from continuing operations (in USD per share) $ 0.78 $ (0.99)
Dilutive earnings/(loss) per share from continuing operations (in USD per share) 0.77 (0.99)
Diluted (loss)/earnings per share from discontinued operations (in USD per share) 0 0.00
Basic (loss)/earnings per share from discontinued operations (in USD per share) $ 0 $ 0.00
v3.24.2.u1
Realized and Unrealized Gain/(Loss) on Oil and Gas Derivative Instruments (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]    
Realized gain on oil and gas derivative instruments, net $ 70,537 $ 103,903
Unrealized loss on oil and gas derivative instruments (13,902) (191,657)
Realized and unrealized gain/(loss) on oil and gas derivative instruments 56,635 (87,754)
Commodity swap    
Derivative Instruments, Gain (Loss) [Line Items]    
Realized mark-to-market (“MTM”) adjustment on commodity swap derivatives 24,719 42,066
Unrealized MTM adjustment on commodity swap derivatives (23,700) (22,175)
Oil    
Derivative Instruments, Gain (Loss) [Line Items]    
Realized gain on derivatives 36,656 36,156
Unrealized MTM adjustment for IRS derivatives 15,092 (74,840)
Gas    
Derivative Instruments, Gain (Loss) [Line Items]    
Realized gain on derivatives 9,162 25,681
Unrealized MTM adjustment for IRS derivatives $ (5,294) $ (94,642)
v3.24.2.u1
Other Non-Operating Losses (Details) - USD ($)
$ / shares in Units, $ in Thousands
 6 Months Ended
Mar. 15, 2023
Jun. 30, 2024
Jun. 30, 2023
Realized and unrealized MTM (losses)/gains on investment in listed equity securities (note 14)   $ 0 $ (62,308)
Dividend income from our investment in listed equity securities   0 9,823
Total other non-operating losses   $ 0 (52,485)
Marketable security, realized gain (loss)     $ (62,300)
Hilli Common Units      
Stock repurchased during the period (in shares) 1,230    
New Fortress Energy (NFE)      
Investment owned, shares sold (in shares)     1,200,000
Proceeds for shares issued     $ 45,600
Investment owned, shares disposed (in shares) 4,100,000    
New Fortress Energy (NFE) | Minimum      
Sale of stock, price per share     $ 36.90
New Fortress Energy (NFE) | Maximum      
Sale of stock, price per share     $ 40.38
v3.24.2.u1
Gains on Derivative Instruments and Other Financial Items, Net -Gains (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]    
Gains on derivative instruments, net $ 6,309 $ 2,297
Interest rate swap    
Derivative Instruments, Gain (Loss) [Line Items]    
Net interest income on undesignated interest rate swap (“IRS”) derivatives 4,555 3,750
Unrealized MTM adjustment for IRS derivatives $ 1,754 $ (1,453)
v3.24.2.u1
Gains on Derivative Instruments and Other Financial Items, Net -Financial Items (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]    
Amortization of debt guarantees (1) $ 827 $ 1,034
Foreign exchange gain/(loss) on operations 460 (1,427)
Financing arrangement fees and other related costs (3,768) (799)
Others (213) (183)
Other financial items, net (2,694) $ (1,375)
Golar Kelvin and Golar Ice | Debt guarantee fees    
Derivative Instruments, Gain (Loss) [Line Items]    
Amortization of debt guarantees (1) 159,600  
CSSC VIE debt- Hilli Facility | Secured debt    
Derivative Instruments, Gain (Loss) [Line Items]    
Financing arrangement fees and other related costs $ (3,700)  
v3.24.2.u1
Operating Leases - Operating Lease Income (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Leases [Abstract]    
Operating lease income $ 3,581 $ 10,860
Variable lease income 2,749 0
Total operating lease income $ 6,330 $ 10,860
v3.24.2.u1
Variable Interest Entities ("VIEs") - Narrative (Details)
 1 Months Ended
Jun. 30, 2023
Jun. 30, 2018
Jun. 30, 2024
vessel
class_of_unit
Dec. 31, 2023
vessel
Apr. 16, 2019
Variable Interest Entity [Line Items]          
Number of classes of units | class_of_unit     3    
Gimi MS | FLNG          
Variable Interest Entity [Line Items]          
Ownership percentage         30.00%
VIE debt          
Variable Interest Entity [Line Items]          
Number of vessels in sale and leaseback transaction | vessel     1 1  
Sale and leaseback term   10 years      
Sale and leaseback term, extension term 5 years        
v3.24.2.u1
Variable Interest Entities ("VIEs") - Summary of Bareboat Charters (Details) - Hilli LLC - VIE debt - CSSC
$ in Thousands
Jun. 30, 2024
USD ($)
Variable Interest Entity [Line Items]  
2024 $ 42,095
2025 82,201
2026 79,077
2027 76,043
2028 72,830
2029+ $ 274,766
v3.24.2.u1
Variable Interest Entities ("VIEs") - Schedule of Variable Interest Entities-Balance Sheet (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Restricted cash and short-term deposits $ 93,930 $ 92,245
Liabilities    
Current portion of long-term debt and short-term debt (353,334) (342,566)
Long-term debt (820,258) (874,164)
VIE debt    
ASSETS    
Restricted cash and short-term deposits 17,590 18,085
Liabilities    
Total debt (350,752) (393,193)
Current portion of long-term debt and short-term debt (287,223) (299,576)
Long-term debt $ (63,529) $ (93,617)
v3.24.2.u1
Variable Interest Entities ("VIEs") - Schedule of Variable Interest Entities-Continuing Operations (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Statement of operations    
Other financial items, net (note 9) $ 3,768 $ 799
Interest expense 0 972
Statement of cash flows    
Net debt repayments (46,317) (76,397)
Financing costs paid (569) (9,809)
VIE debt | Continuing operations    
Statement of operations    
Other financial items, net (note 9) 3,749 0
Interest expense 10,381 5,273
Statement of cash flows    
Net debt repayments (42,670) (52,359)
Financing costs paid $ 0 $ (3,150)
v3.24.2.u1
Variable Interest Entities ("VIEs") - Schedule of Variable Interest Entities- Hilli LLC Ownership Structure (Details) - Golar Hilli LLC
Jun. 30, 2024
Golar debt | Series A Special Units  
Variable Interest Entity [Line Items]  
Percentage ownership by wholly owned subsidiary 89.10%
Golar debt | Series B Special Units  
Variable Interest Entity [Line Items]  
Percentage ownership by wholly owned subsidiary 89.10%
Golar debt | Common Units  
Variable Interest Entity [Line Items]  
Percentage ownership by wholly owned subsidiary 94.60%
Keppel Shipyard Limited (“Keppel”) | Series A Special Units  
Variable Interest Entity [Line Items]  
Ownership percentage 10.00%
Keppel Shipyard Limited (“Keppel”) | Series B Special Units  
Variable Interest Entity [Line Items]  
Ownership percentage 10.00%
Keppel Shipyard Limited (“Keppel”) | Common Units  
Variable Interest Entity [Line Items]  
Ownership percentage 5.00%
Black and Veatch (“B&V”) | Series A Special Units  
Variable Interest Entity [Line Items]  
Ownership percentage 0.90%
Black and Veatch (“B&V”) | Series B Special Units  
Variable Interest Entity [Line Items]  
Ownership percentage 0.90%
Black and Veatch (“B&V”) | Common Units  
Variable Interest Entity [Line Items]  
Ownership percentage 0.40%
v3.24.2.u1
Variable Interest Entities ("VIEs") - Schedule of Variable Interest Entities- Hilli LLC Balance Sheet (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Balance sheet    
Current assets $ 725,106 $ 815,564
Current liabilities (584,421) (545,780)
Hilli LLC | VIE debt    
Balance sheet    
Current assets 83,927 70,461
Non-current assets 1,198,071 1,212,922
Current liabilities (341,173) (342,480)
Non-current liabilities $ (86,889) $ (125,094)
v3.24.2.u1
Variable Interest Entities ("VIEs") - Schedule of Variable Interest Entities- Hilli LLC Statements of Income and Statements of Cash Flow (Details) - USD ($)
$ in Thousands
 6 Months Ended
Mar. 15, 2023
Jun. 30, 2024
Jun. 30, 2023
Statement of operations      
Total operating revenues   $ 129,648 $ 151,498
Realized and unrealized gain/(loss) on oil and gas derivative instruments   56,635 (87,754)
Statement of changes in equity      
Equity     215,605
Statement of cash flows      
Reacquisition of common units in Hilli LLC   0 (100,047)
Net debt repayments   (46,317) (76,397)
Financing costs paid   (569) (9,809)
Golar Hilli LLC      
Statement of cash flows      
Loss stock repurchased during period, value $ 251,200    
Hilli Common Units      
Statement of cash flows      
Stock repurchased during the period (in shares) 1,230    
Additional Paid-in Capital      
Statement of changes in equity      
Equity     251,249
Non-Controlling Interest      
Statement of changes in equity      
Equity     (35,644)
Liquefaction services revenue      
Statement of operations      
Total operating revenues   112,488 116,594
Hilli LLC | VIE debt      
Statement of operations      
Realized and unrealized gain/(loss) on oil and gas derivative instruments   56,635 (87,754)
Statement of cash flows      
Reacquisition of common units in Hilli LLC   0 (100,047)
Net debt repayments   (42,670) (52,359)
Financing costs paid   0 (3,150)
Cash dividends paid   (4,737) (17,842)
Hilli LLC | VIE debt | Additional Paid-in Capital      
Statement of changes in equity      
Equity   0 (251,249)
Hilli LLC | VIE debt | Non-Controlling Interest      
Statement of changes in equity      
Equity   0 35,644
Hilli LLC | VIE debt | Liquefaction services revenue      
Statement of operations      
Total operating revenues   $ 112,488 $ 116,594
v3.24.2.u1
Variable Interest Entities ("VIEs") - Schedule of Variable Interest Entities- Gimi MS Balance Sheet (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Balance sheet    
Current assets $ 725,106 $ 815,564
Current liabilities (584,421) (545,780)
Golar Gimi | VIE debt    
Balance sheet    
Current assets 113,037 17,359
Non-current assets 1,731,916 1,702,148
Current liabilities (205,493) (168,370)
Non-current liabilities $ (560,466) $ (585,678)
v3.24.2.u1
Variable Interest Entities ("VIEs") - Schedule of Variable Interest Entities- Gimi MS Statements of Income and Statements of Cash Flow (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Statement of cash flows    
Capitalized financing costs $ (569) $ (9,809)
Net debt receipts 0 85,000
Proceeds from subscription of equity interest in Gimi MS 27,278 21,118
Golar Gimi | VIE debt    
Statement of cash flows    
Additions to asset under development 88,965 138,102
Capitalized financing costs (569) (1,156)
Net debt receipts 0 85,000
Proceeds from subscription of equity interest in Gimi MS $ 27,278 $ 21,118
v3.24.2.u1
Restricted Cash and Short-Term Deposits (Details)
€ in Millions, t in Millions
 1 Months Ended 6 Months Ended
May 31, 2021
USD ($)
t
Jun. 30, 2024
USD ($)
guarantee
Jun. 30, 2024
EUR (€)
guarantee
Dec. 31, 2023
USD ($)
Oct. 31, 2019
USD ($)
Nov. 30, 2015
USD ($)
Restricted Cash and Cash Equivalents Items [Line Items]            
Restricted cash and short-term deposits   $ 93,930,000   $ 92,245,000    
Less: Amounts included in current restricted cash and short-term deposits   (19,539,000)   (18,115,000)    
Non-current restricted cash   74,391,000   74,130,000    
Performance guarantee | LNG Croatia and NFE's fleet            
Restricted Cash and Cash Equivalents Items [Line Items]            
Restricted cash and short-term deposits   $ 12,404,000   12,083,000    
Number of performance guarantees | guarantee   2 2      
Performance guarantee | LNG Croatia and NFE's fleet | United States of America, Dollars            
Restricted Cash and Cash Equivalents Items [Line Items]            
Restricted cash and short-term deposits   $ 1,300,000 € 9.7      
Facility, term   10 years        
Performance guarantee | LNG Croatia and NFE's fleet | Euro member countries, Euro            
Restricted Cash and Cash Equivalents Items [Line Items]            
Restricted cash and short-term deposits | €     € 9.1      
VIE debt            
Restricted Cash and Cash Equivalents Items [Line Items]            
Restricted cash and short-term deposits   $ 17,590,000   18,085,000    
Lease agreements            
Restricted Cash and Cash Equivalents Items [Line Items]            
Restricted cash and short-term deposits   999,000   1,081,000    
GoFLNG Hilli facility            
Restricted Cash and Cash Equivalents Items [Line Items]            
Credit facility available to project partner           $ 400,000,000
LNG production | t 3.6          
Maximum borrowing capacity $ 100,000,000          
GoFLNG Hilli facility | Performance guarantee            
Restricted Cash and Cash Equivalents Items [Line Items]            
Restricted cash and short-term deposits   60,988,000   60,996,000   $ 305,000,000
Gimi facility | Performance guarantee            
Restricted Cash and Cash Equivalents Items [Line Items]            
Restricted cash and short-term deposits   $ 1,949,000   $ 0    
Gimi $700 million facility | Long-term debt            
Restricted Cash and Cash Equivalents Items [Line Items]            
Debt instrument, face amount         $ 700,000,000  
v3.24.2.u1
Other Current Assets - Schedule of Other Current Assets (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Other Current Assets [Line Items]    
Prepaid expenses $ 3,322 $ 2,292
Inventories 2,557 1,990
Others 107,720 2,968
Other current assets 146,465 71,997
Lease and operate agreement, pre-commissioning contractual cash flows 92,600  
Other    
Other Current Assets [Line Items]    
Lease and operate agreement, pre-commissioning contractual cash flows 92,600  
Commodity contract    
Other Current Assets [Line Items]    
Derivative asset 24,378 48,079
Receivable from TTF linked commodity swap derivatives 0 7,581
Money market    
Other Current Assets [Line Items]    
Interest Receivable 4,059 3,929
Interest rate swap    
Other Current Assets [Line Items]    
Derivative asset 2,089 2,697
Interest Receivable $ 2,340 $ 2,461
v3.24.2.u1
Asset Under Development - Schedule Of Assets (Details) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2024
Dec. 31, 2023
Extractive Industries Rollforward [Abstract]    
Opening asset under development balance $ 1,562,828 $ 1,152,032
Additions 85,363 338,327
Interest costs capitalized 44,663 72,469
Closing asset under development balance $ 1,692,854 $ 1,562,828
v3.24.2.u1
Asset Under Development - Narrative (Details) - USD ($)
$ in Millions
 1 Months Ended 6 Months Ended
Apr. 30, 2019
Jun. 30, 2024
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items]    
Gimi conversion cost $ 1,700.0  
Production period   20 years
Lease and operate agreement, pre-commissioning contractual cash flows   $ 92.6
Gimi $700 million facility | Gimi conversion    
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items]    
Gimi conversion cost $ 700.0  
v3.24.2.u1
Asset Under Development - Commitments (Details) - Gimi conversion
$ in Thousands
Jun. 30, 2024
USD ($)
Schedule of Other Non-current Assets [Line Items]  
2024 $ 175,937
2025 53,565
Contractual obligation $ 229,502
v3.24.2.u1
Equity Method Investments (Details)
$ / shares in Units, R$ in Thousands, $ in Thousands
 1 Months Ended 6 Months Ended
May 23, 2024
USD ($)
May 23, 2024
BRL (R$)
Mar. 31, 2023
shares
Mar. 31, 2023
USD ($)
Jun. 30, 2024
USD ($)
shares
Jun. 30, 2023
USD ($)
Dec. 31, 2023
USD ($)
$ / shares
Dec. 31, 2023
kr / shares
Schedule of Equity Method Investments [Line Items]                
Net losses from equity method investments         $ (2,339) $ (296)    
Equity method investment, realized gain (loss) on disposal         (518) 823    
Equity method investments         50,153   $ 53,982  
Proceeds from sale of equity method investments         822 56,097    
Avenir                
Schedule of Equity Method Investments [Line Items]                
Net losses from equity method investments         (2,503) (2,879)    
Equity method investments         34,152   $ 35,729  
CoolCo                
Schedule of Equity Method Investments [Line Items]                
Net losses from equity method investments         $ 0 1,491    
Equity method investment, realized gain (loss) on disposal       $ 800        
Number of shares issued (in shares) | shares     4,500,000          
Sale of stock, price per share | (per share)             $ 12.60 kr 130
Proceeds for shares issued       56,100        
Sale of stock, fees paid on transaction       $ 100        
Investment owned, balance (in shares) | shares         1      
Nonconsolidated investees, other                
Schedule of Equity Method Investments [Line Items]                
Net losses from equity method investments         $ 682 $ 269    
Logistica e Distribuição de Gàs S.A., LOGAS                
Schedule of Equity Method Investments [Line Items]                
Equity method investments         8,340   $ 9,261  
Egyptian Company for Gas Services S.A.E, ECGS                
Schedule of Equity Method Investments [Line Items]                
Equity method investments         5,509   5,237  
Aqualung Carbon Capture AS                
Schedule of Equity Method Investments [Line Items]                
Equity method investments         2,152   2,244  
MGAS Comercializadora de Gás Natural Ltda, MGAS                
Schedule of Equity Method Investments [Line Items]                
Equity method investment, realized gain (loss) on disposal $ (500)              
Equity method investments         $ 0   $ 1,511  
Equity method investment, ownership percentage 51.00% 51.00%            
Proceeds from sale of equity method investments $ 800 R$ 4,250            
v3.24.2.u1
Other Non-Current Assets (Details) - USD ($)
$ in Thousands
Mar. 04, 2024
Jun. 30, 2024
Dec. 31, 2023
Components of Other Non-Current Assets:      
Pre-operational assets   $ 223,557 $ 189,023
Other   1,376 107,096
Operating lease right-of-use-assets   7,895 7,386
Other non-current assets   441,289 499,806
Lease and operate agreement, pre-commissioning contractual cash flows   92,600  
Other Noncurrent Assets      
Components of Other Non-Current Assets:      
Lease and operate agreement, pre-commissioning contractual cash flows   0 105,400
Fuji LNG      
Components of Other Non-Current Assets:      
Payments to acquire productive assets $ 77,500    
Increase (decrease) in other noncurrent assets (15,500)    
Property, plant and equipment, transfer $ 15,500    
MK II FLNG      
Components of Other Non-Current Assets:      
Other assets, capitalized engineering costs, noncurrent   77,200 59,400
Other assets, long lead items, noncurrent   138,300 109,800
Other assets, deposit for a donor vessel, noncurrent   0 15,500
F2K Project      
Components of Other Non-Current Assets:      
Other assets, capitalized engineering costs, noncurrent   8,000 4,400
Oil      
Components of Other Non-Current Assets:      
Derivative instrument   121,040 105,948
Gas      
Components of Other Non-Current Assets:      
Derivative instrument   48,368 53,663
Interest rate swap      
Components of Other Non-Current Assets:      
Derivative instrument   $ 39,053 $ 36,690
v3.24.2.u1
Debt - Schedule of components of Debt (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
Total debt (gross) $ (1,194,303) $ (1,240,583)
Less: Deferred financing costs 20,711 23,853
Total debt, net of deferred financing costs (1,173,592) (1,216,730)
Current portion of long-term debt and short-term debt (353,334)  
Long-term debt (820,258) (874,164)
Golar debt    
Debt Instrument [Line Items]    
Total debt, net of deferred financing costs (822,840)  
Current portion of long-term debt and short-term debt (66,111)  
Long-term debt (756,729)  
Gimi facility | Revolving credit facility    
Debt Instrument [Line Items]    
Total debt (gross) (630,000) (630,000)
Unsecured Bonds | Long-term debt    
Debt Instrument [Line Items]    
Total debt (gross) (199,905) (199,869)
Golar Arctic facility | Secured debt    
Debt Instrument [Line Items]    
Total debt (gross) (10,943) (14,589)
CSSC VIE debt- Hilli Facility | Secured debt    
Debt Instrument [Line Items]    
Total debt (gross) (353,455) (396,125)
VIE debt    
Debt Instrument [Line Items]    
Subtotal (excluding lessor VIE debt) (840,848) (844,458)
Total debt, net of deferred financing costs (350,752)  
Current portion of long-term debt and short-term debt (287,223)  
Long-term debt $ (63,529) $ (93,617)
v3.24.2.u1
Other Current Liabilities - Schedule of Other Current Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Other Current Liabilities [Line Items]    
Day 1 gain deferred revenue - current portion $ (12,783) $ (12,783)
Deferred revenue $ (4,220) $ (4,220)
Operating lease, liability, current, statement of financial position [extensible enumeration] Other current liabilities Other current liabilities
Current portion of operating lease liability $ (1,548) $ (1,462)
Other payables (6,458) (32,485)
Other current liabilities (25,009) (50,950)
Current contract liabilities 4,220 4,220
Golar Gimi    
Other Current Liabilities [Line Items]    
Other payables 0 (30,500)
Oil    
Other Current Liabilities [Line Items]    
Current contract liabilities 10,000 10,000
Gas    
Other Current Liabilities [Line Items]    
Current contract liabilities $ 2,800 $ 2,800
v3.24.2.u1
Other Non-Current Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Other Long-Term Liabilities [Line Items]    
Pension obligations $ (21,999) $ (23,471)
Day 1 gain deferred revenue (12,926) (19,179)
Deferred commissioning period revenue (4,222) (6,276)
Non-current portion of operating lease liabilities (6,212) (5,881)
Other payables (6,971) (6,793)
Other non-current liabilities (52,330) (61,600)
Non current contract liabilities 4,222 6,276
Asset retirement obligation 6,200 6,000
Assets under development, removal cost capitalized 4,700 4,700
Oil    
Other Long-Term Liabilities [Line Items]    
Non current contract liabilities 10,000 14,800
Gas    
Other Long-Term Liabilities [Line Items]    
Non current contract liabilities $ 2,900 $ 4,400
v3.24.2.u1
Financial Instruments - Carrying Values and Estimated Fair Values (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Dec. 31, 2022
Non-Derivatives:        
Cash and cash equivalents $ 527,591 $ 770,567 $ 679,225 $ 878,838
Trade accounts receivable 31,511   38,915  
Current portion of long-term debt and short-term debt (353,334)   (342,566)  
Long-term debt (820,258)   (874,164)  
Derivatives:        
Deposits, money market deposits 445,900   481,700  
Interest income, money market deposits 13,400 $ 17,800    
Less: Deferred financing costs 20,711   23,853  
Commodity contract        
Non-Derivatives:        
Receivable from TTF linked commodity swap derivatives 0   7,581  
Carrying value | Level 1        
Non-Derivatives:        
Cash and cash equivalents 527,591   679,225  
Restricted cash and short-term deposits 93,930   92,245  
Trade accounts receivable 31,511   38,915  
Money market funds 4,059   3,929  
Trade accounts payable (88,985)   (7,454)  
Unsecured long-term debt, noncurrent (199,905)   (199,869)  
Carrying value | Level 1 | Interest rate swap        
Non-Derivatives:        
Receivable from TTF linked commodity swap derivatives 2,340   2,461  
Carrying value | Level 1 | Commodity contract        
Non-Derivatives:        
Receivable from TTF linked commodity swap derivatives 0   7,581  
Carrying value | Level 2        
Non-Derivatives:        
Current portion of long-term debt and short-term debt (356,931)   (343,781)  
Long-term debt (637,467)   (696,933)  
Carrying value | Level 2 | Oil and gas derivative        
Derivatives:        
MTM asset on TTF linked commodity swap derivatives (note 20) 169,408   159,611  
Carrying value | Level 2 | Interest rate swap        
Derivatives:        
MTM asset on TTF linked commodity swap derivatives (note 20) 41,142   39,387  
Carrying value | Level 2 | Commodity contract        
Derivatives:        
MTM asset on TTF linked commodity swap derivatives (note 20) 24,378   48,079  
Fair value | Level 1        
Non-Derivatives:        
Cash and cash equivalents, fair value 527,591   679,225  
Restricted cash and short-term deposits, fair value 93,930   92,245  
Trade accounts receivable, fair value 31,511   38,915  
Money market funds, fair value 4,059   3,929  
Trade accounts payable, fair value (88,985)   (7,454)  
Unsecured long-term debt, noncurrent, fair value (199,184)   (197,906)  
Fair value | Level 1 | Interest rate swap        
Non-Derivatives:        
Other receivables, fair value disclosure 2,340   2,461  
Fair value | Level 1 | Commodity contract        
Non-Derivatives:        
Other receivables, fair value disclosure 0   7,581  
Fair value | Level 2        
Non-Derivatives:        
Current portion of long-term debt and short-term debt, fair value (356,931)   (343,781)  
Long-term debt, fair value (637,467)   (696,933)  
Fair value | Level 2 | Oil and gas derivative        
Derivatives:        
MTM asset on TTF linked commodity swap derivatives (note 20) 169,408   159,611  
Fair value | Level 2 | Interest rate swap        
Derivatives:        
MTM asset on TTF linked commodity swap derivatives (note 20) 41,142   39,387  
Fair value | Level 2 | Commodity contract        
Derivatives:        
MTM asset on TTF linked commodity swap derivatives (note 20) $ 24,378   $ 48,079  
v3.24.2.u1
Financial Instruments - Interest Rate Swaps (Details) - Interest rate swap - Cash Flow Hedging - Designated as hedging instrument
$ in Thousands
Jun. 30, 2024
USD ($)
Derivative [Line Items]  
Notional value (in thousands of $) $ 538,958
Minimum  
Derivative [Line Items]  
Fixed interest rates 1.93%
Maximum  
Derivative [Line Items]  
Fixed interest rates 2.37%
v3.24.2.u1
Financial Instruments - Narrative (Details) - Oil
liquefiedNaturalGasTon in Thousands
Dec. 31, 2018
liquefiedNaturalGasTon
$ / barrel
Derivative [Line Items]  
Derivative floor price (in usd per barrel) | $ / barrel 60.00
Tons of liquefied natural gas 1,200
Tons of liquefied natural gas, capacity 1,440
Tons of liquefied natural gas linked to TTF index 200
v3.24.2.u1
Derivative Instruments and Hedging Activities (Details)
Jun. 30, 2024
MMBTU
$ / MMBTU
Commodity swap  
Derivative [Line Items]  
Notional quantity (MMBtu) | MMBTU 806,502
Fixed price/MMBtu | $ / MMBTU 51.20
Commodity Swap, Pay Fixed  
Derivative [Line Items]  
Notional quantity (MMBtu) | MMBTU 806,502
Fixed price/MMBtu | $ / MMBTU 20.55
v3.24.2.u1
Related Party Transactions - Transactions with existing related parties (Details) - USD ($)
Jun. 30, 2024
Dec. 31, 2023
Related Party | Avenir    
Related Party Transaction [Line Items]    
Other receivables $ 7,525,000 $ 7,312,000
v3.24.2.u1
Related Party Transactions - Narrative (Details) - Avenir - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Loan to related party    
Related Party Transaction [Line Items]    
Related party transaction rate 7.00%  
Shareholder loan $ 5.3  
Other related party transactions | Related Party    
Related Party Transaction [Line Items]    
Debt instrument, interest and commitment fee receivable 0.2 $ 0.1
Debt guarantee fees    
Related Party Transaction [Line Items]    
Compensation amount $ 0.1 $ 0.1
v3.24.2.u1
Related Party Transactions - Transactions and balances with former related parties (Details) - CoolCo and Subsidiaries
$ in Thousands
 2 Months Ended
Mar. 02, 2023
USD ($)
Related Party Transaction [Line Items]  
Related party transaction, net income (expense) from related parties $ 451
Management and administrative service fees  
Related Party Transaction [Line Items]  
Compensation amount 588
Ship management fees expense  
Related Party Transaction [Line Items]  
Compensation amount (333)
Debt guarantee fees  
Related Party Transaction [Line Items]  
Compensation amount 175
Commitment fees  
Related Party Transaction [Line Items]  
Compensation amount $ 21
v3.24.2.u1
Other Commitments and Contingencies - Pledged Assets (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]    
Book value of vessels secured against loans $ 1,126,078 $ 1,075,018
v3.24.2.u1
Other Commitments and Contingencies - Narrative (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2022
F2K Project    
Restricted Cash and Cash Equivalents Items [Line Items]    
Commitments and contingencies $ 6.8  
MK II FLNG    
Restricted Cash and Cash Equivalents Items [Line Items]    
Commitments and contingencies $ 108.2  
MK II FLNG | Maximum    
Restricted Cash and Cash Equivalents Items [Line Items]    
Long term purchase commitments   $ 328.5
v3.24.2.u1
Subsequent Events (Details) - USD ($)
$ / shares in Units, $ in Thousands
 5 Months Ended
Jan. 10, 2024
Dec. 31, 2024
Aug. 15, 2024
Aug. 03, 2024
Subsequent Event [Line Items]        
Payment of liquidated damages, lease and operate agreement, pre-commissioning contractual cash flows, $ 110,000      
Subsequent event        
Subsequent Event [Line Items]        
Lease and operate agreement, pre-commissioning contractual cash flows, amendment deed       $ 220,000
Dividends payable (in USD per share)     $ 0.25  
Subsequent event | Scenario, Forecast        
Subsequent Event [Line Items]        
Increase (decrease) in lease and operate agreement, pre-commissioning contractual cash flows, amendment deed   $ (130,000)    
Golar LNG (NASDAQ:GLNG)
過去 株価チャート
から 11 2024 まで 12 2024 Golar LNGのチャートをもっと見るにはこちらをクリック
Golar LNG (NASDAQ:GLNG)
過去 株価チャート
から 12 2023 まで 12 2024 Golar LNGのチャートをもっと見るにはこちらをクリック