Page 12 - GLNG Week 08 2021

GLNG NEWS IN BRIEF GLNG

$293.0mn in assets at the end of 2020.
Tellurian reported a net loss of approximately
$210.7mn, including a non-cash impairment
charge of approximately $81.1mn related
to our upstream properties, or $0.79 per
share (basic and diluted), for the year ended
December 31, 2020.
TELLURIAN, February 24, 2021
Golar LNG preliminary fourth

quarter and financial year

2020 results

Iain Ross, CEO, Golar LNG, said: “Golar is
pleased to report Q4 total operating revenues
of $118.7mn, adjusted EBITDA1 of $78.0mn
and net income of $9.5mn, driven by another
quarter of uninterrupted commercial uptime
flexible capital, development and financing Tellurian reports 2020 in FLNG and a Q4 Adjusted TCE1 for the
capabilities, technical and operational shipping fleet at $51,800 per day.
expertise and physical commodity solutions, results Previously announced sales of Hygo
WaveCrest is uniquely positioned to integrate Energy Transition and Golar LNG
activities across the LNG value chain, such Tellurian continued to build its integrated Partners to New Fortress Energy (NFE), in
as: gas supply, liquefaction, LNG supply, global natural gas business in 2020, focusing transactions with a combined enterprise
regasification, power generation and on expense and debt reduction. value of approximately $5bn, deliver on
downstream services. President and CEO Octávio Simões said, Golar’s commitment to simplify its corporate
The company will initially focus on serving “Tellurian is in a strong financial position with structure and crystallise value to Golar
Latin American and Asian markets and seek substantial liquidity after taking on expense shareholders. The combination of NFE, Hygo
to establish and grow market demand for reduction activities and significant debt and Golar Partners will also create the leading
natural gas by providing greater access to the reduction measures in 2020, and subsequent LNG downstream distribution company.
relatively low-cost fuel source that also has prepayments in 2021. Operationally, our Golar’s combined net proceeds of 18.6mn
lower carbon emissions than coal and fuel Haynesville shale wells have outperformed Class A shares in NFE and $131mn in cash,
oils. It will support reduced direct emissions to unlock value, providing domestic natural will, together with the $100.3mn of equity
by enabling fuel switching to natural gas, gas supply and a valuable contribution to our raised in December, significantly strengthen
which will serve as a natural complement to integrated Driftwood model which will offer Golar’s balance sheet.
the growing penetration of renewable energy. low-cost liquefied natural gas (LNG) to the The successful delivery of the FSRU LNG
WaveCrest is led by CEO Rob Bryngelson, world. As the global market transitions away Croatia (formerly Golar Viking) to LNG
former co-founder and CEO of Excelerate from coal and natural gas demand continues Hrvatska released a further $51.7mn of
Energy, which pioneered the use of floating to increase, LNG is a powerful resource in the liquidity between December 2020 and Q1
storage and regasification units. Bryngelson quest to provide energy access with a much 2021. This project was completed on time,
has over 20 years of experience in delivering lower carbon footprint and energy equity to on budget and in spite of significant COVID
successful projects and developing new the growing global population.” related constraints and is a credit to Golar’s
markets for natural gas imports. He will blend Tellurian produced 16.9bn cubic feet project and operations teams.”
his experience and innovation with Macquarie (bcf) of natural gas for the year ended GOLAR LNG, February 25, 2021
Capital’s deep energy infrastructure expertise, December 31, 2020 as compared to 13.9 bcf
financing capabilities and Macquarie Group’s for the prior year. As of December 31, 2020,
access to natural gas and LNG supply through Tellurian’s upstream assets include 9,373 net EUROPE
its Commodities and Global Markets group. acres, interests in 72 producing wells, and
“Global energy demand growth, coupled estimated proven reserves of 99.5 bcf. The Deltamarin introduces the
with an increasing focus on climate change, reserve estimates were determined under the
positions natural gas as a key energy source in U.S. Securities and Exchange Commission new LNG-powered Kielmax
the transition to a low-carbon energy future,” guidelines and were prepared by an
Bryngelson said. “WaveCrest is designed to independent petroleum consulting firm. container feeder design
bring natural gas to underserved markets Tellurian ended its 2020 fiscal year with
around the world through innovative and approximately $78.3mn of cash and cash Deltamarin is proud to introduce the new
flexible LNG projects, delivering a cleaner equivalents and approximately $72.8mn state-of-the-art LNG-powered Kielmax
fuel source for both existing and incremental in short-term borrowings, and generated container vessel of the C.Delta series,
needs.” approximately $30.4mn in revenues from C.Delta2100. This new design is based on
MACQUARIE CAPITAL, February 23, 2021 natural gas sales. Tellurian has a strong extensive research and development work to
balance sheet consisting of approximately establish the best-in-class design in terms of

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