Is Two Is Better Than One?

In an effort to unlock value, the management of Golar LNG Ltd (“Golar”) has decided to split the company into two, following the precedent set by Teekay. The namesake will remain a traditional long-term, low risk, high yield LNG shipping charter company. It will retain 2 LNG carriers and 3 FSRU units on long-term charters to solid counterparties. With forward revenues of $1.9 billion, long-term financing in place and limited capex, the company has high dividend capacity. In addition the company will own a controlling stake in the new entity, Golar LNG Energy (“Energy”), which diversifies itself away from pure

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