FLNG Capacity Boost
Golar LNG Orders Fourth FLNG Vessel, Expanding Liquefaction Capacity to Over 12 MTPA
Key Points
FLNG Hilli delivered an 8-year Cameroon contract with 100% uptime since start-up, offloading 156 cargoes, and is repositioning to Singapore for modifications ahead of the next 20-year contract starting in 2027.
The 4th FLNG MKII unit will be built under an EPC with CIMC Raffles for 3.5 MTPA; total delivered cost about $2.45 billion; delivery expected by end-2029; a donor vessel has been secured, making it the world’s earliest available FLNG capacity.
MKII order lifts Golar's controlled liquefaction capacity by about 41% to above 12 MTPA, strengthening its position as the market leader in FLNG.
Dividend and share count details: a dividend of 0.25 per share is declared for the quarter, payable on September 2, 2026, with 102.1 million shares outstanding as of June 30, 2026.
Golar closed a senior secured Revolving Credit Facility with a bank syndicate including ABN AMRO, Citibank, Danske Bank and Standard Chartered, enhancing liquidity alongside existing cash holdings.
Golar LNG has signed a $2.45 billion engineering, procurement and construction deal with Yantai CIMC Raffles Offshore for its fourth floating liquefied natural gas vessel, according to Offshore Technology. The new FLNG MKII unit will have a capacity of 3.5 million tonnes per year and is targeted for delivery by the end of 2029, making it the world's earliest available new FLNG capacity.
The announcement came alongside Golar's Q2 2026 earnings, where the company posted net income of $38 million and Adjusted EBITDA of $127 million, per Yahoo Finance. Earnings per share came in at $0.68, beating expectations, though revenue of roughly $130 million missed estimates by about $13 million.
Fourth FLNG Order Lifts Capacity by 41%
The new vessel pushes Golar's total controlled liquefaction capacity above 12 million tonnes per year — a 41% jump, according to Yahoo Finance Australia. That cements Golar's position as the largest owner of FLNG assets in the world. A donor vessel has already been secured, giving the project a head start over rivals.
Golar also signed a letter of intent with Seatrium to lock in a yard slot for potential future orders of MKI or MKII vessels, per Yahoo Finance. That signals the company is not done growing. Management is clearly positioning for a multi-year wave of new FLNG demand.
FLNG Hilli Wraps Cameroon Work, Heads to Singapore
Golar's existing FLNG Hilli just completed an 8-year contract in Cameroon with 100% uptime since start-up. The vessel offloaded 156 cargoes over that period, a strong operational record, according to Financial Content. It is now repositioning to Singapore for upgrades ahead of its next contract.
That next deal is a 20-year contract set to begin in 2027. The Singapore stop covers modifications needed to prepare the vessel for its long-term role. A two-decade contract is a rare and valuable anchor for any energy company's balance sheet.
Strong Cash Position Backs Golar's Expansion Plans
Golar ended Q2 2026 with about $908 million in cash, per Financial Content. The company also closed a new senior secured revolving credit facility backed by a bank syndicate that includes ABN AMRO, Citibank, Danske Bank, and Standard Chartered. The facility adds a further liquidity cushion for new builds and ongoing operations.
Golar declared a quarterly dividend of $0.25 per share, payable September 2, 2026, with 102.1 million shares outstanding as of June 30, according to Quiver Quant. Institutional investor activity in GLNG shares remained substantial during the quarter, reflecting continued market confidence in the company's growth story.
Why FLNG Matters and What Comes Next
FLNG vessels are essentially floating factories. They sit offshore, take in natural gas, liquefy it, and load it onto tankers — no land-based plant needed. That makes them faster and cheaper to deploy in remote fields. At 3.5 MTPA, the new fourth unit is a meaningful addition to global LNG supply.
With four FLNG units either operating or on order and a yard slot reserved for even more, Golar is betting that global demand for flexible LNG capacity will stay strong through the 2030s. The $2.45 billion price tag on the new build, paired with a 20-year charter for Hilli, shows the company is playing a long game, per Offshore Technology.
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