Overview
Golar LNG Ltd. is a natural-gas liquefaction infrastructure company focused on floating liquefied natural gas (FLNG). It designs, constructs, owns and operates FLNG vessels, providing liquefaction capacity to customers seeking to develop gas resources, including stranded or otherwise underused reserves.[1][2]
Its core offering is FLNG infrastructure, including converted LNG carriers and purpose-built vessels. At the FY2025 reporting date, Golar had two operational FLNG vessels, Hilli and Gimi, and a third vessel, MKII, undergoing conversion. Its projects span Cameroon, Mauritania and Senegal, with contracted projects also in Argentina.[3][4][5]
Golar frames its business around natural gas’s role in providing cleaner energy and describes its infrastructure as enabling gas liquefaction. For the year ended December 31, 2025, it reported total operating revenue of $393.5 million.[1][6] [1][2][3][4][4][4][4][5][6][7][8]
Products & services
Golar LNG’s principal offering is floating liquefied natural gas (FLNG) liquefaction capacity provided under long-term contracts. Its FLNG fleet includes Hilli, converted from a Moss-type LNG carrier and operating offshore Cameroon, with nameplate capacity of approximately 2.45 million tonnes per annum (mtpa); and Gimi, which began commercial operations in 2025 under a 20-year lease with bp, with 2.7 mtpa nameplate capacity.[9][10][11] Golar was also converting MKII FLNG at year-end 2025; the project is specified as a 3.5 mtpa unit.[3][12] Hilli and MKII secured 20-year charters with SESA, with Hilli scheduled for refurbishment and upgrades ahead of redeployment in Argentina.[13]
For 2025, Golar reported $226.794 million in liquefaction-services revenue, about 57.6% of total operating revenue of $393.522 million. Other reported revenue categories were sales-type lease revenue of $91.461 million (about 23.2%), vessel-management fees and other revenue of $74.391 million (about 18.9%), and time- and voyage-charter revenue of $0.876 million (about 0.2%). These percentages are calculated from the reported revenue amounts; the filing reports them by service category rather than by individual vessel.[14] [9][10][3][13][14][11][12]
Geographic presence
In FY2025, Golar LNG’s operating assets included FLNG Hilli offshore Cameroon and FLNG Gimi serving Mauritania and Senegal; Gimi achieved commercial operation in June 2025. The company also disclosed two contracted FLNG projects in Argentina, with expected commercial operation dates in the second half of 2027 and 2028.[4]
Golar holds a 58% equity-method interest in LOGAS, a Brazil-based natural gas and LNG distribution, transport and storage business. Its listed offices include Hamilton, Bermuda (registered office), London, UK (principal administrative office), and locations in Norway, Malaysia, Brazil, Croatia and Cameroon. The company identifies Norway as its principal technical and operations office.[9][10][15][16][17]
The FY2025 filing does not disclose revenue by country or region, or employee distribution by geography; its reported revenue segments are not geographic allocations.[18][19] [4][9][10][15][16][17][18][19][16][17]
Business segments
For FY2025, Golar LNG reported two operating and reportable segments. **FLNG** covers operating FLNG vessels and projects, including converting or building vessels for third-party contracts, and includes Hilli and Gimi operations, business development and other FLNG projects. It generated approximately **93% of segment operating revenue** in 2025 ($366.7 million of $393.5 million) and held about **79% of segment assets** at year-end.[20][21][22][23]
**Corporate and other** includes legacy shipping, vessel management, third-party FSRU services, LNG-carrier transportation, administrative services, corporate overhead and other strategic investments. It contributed approximately **7% of segment operating revenue** ($26.8 million) and held about **21% of segment assets** at year-end.[3][24][22][23] The percentages are calculated from the FY2025 segment revenue and year-end asset totals. Shipping is included within Corporate and other, not reported as a separate current segment; Golar ceased classifying Shipping as a reportable segment in Q1 2025.[25] [20][21][22][22][22][23][23][3][24][25]
Company history
Golar LNG Limited was incorporated on May 10, 2001, and that month acquired and reorganized LNG shipping interests previously held by Osprey Maritime and Seatankers. The available sources do not identify individual founders.[26][27]
In 2008, Golar Spirit entered service as the first LNG carrier converted into a floating storage and regasification unit (FSRU), marking an early expansion beyond conventional LNG shipping.[28] In 2018, the company’s Hilli became the first floating LNG (FLNG) vessel converted from an LNG carrier.[9]
In 2021, Golar completed the sale of its interests in Hygo Energy Transition and Golar LNG Partners to New Fortress Energy; Karl Fredrik Staubo became CEO that May.[29] Gimi, the company’s second converted FLNG vessel, was delivered from the shipyard in November 2023 and began commercial operation in June 2025.[30][10] In 2025, Golar also reported the sale of its remaining LNG carrier, Golar Arctic, and the start of shipyard work to convert Fuji LNG into an FLNG vessel.[31] [26][9][29][30][10][31][27][28]
Sources
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