Golar LNG posts Q1 loss, advances projects

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By Adnan Bajic LNG shipper Golar made further advancements in its projects in the first quarter of the year.

Image courtesy of Golar LNG

The company reported a loss of $104.2 million for the first three months of the year. This compares to a $41.7 million loss reported in the corresponding period in 2019.

However, Golar reported $122.6 million first-quarter operating revenues, driven by FLNG and shipping performance.

HIlli Episeyo FLNG achieved 100 per cent commercial uptime while the shipping segment delivered first-quarter average time charter equivalent (TCE) of $61,900 per day, 57 per cent up on the $39,300 reported in the first quarter

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