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The case for Golar LNG (GLNG) as the default solution for stranded-gas monetization is harder to dismiss after Thursday's fourth-unit order announcement.
The complication: a $2.45 billion capital commitment lands without a signed charter on the new vessel, meaning the 50% earnings growth projection hinges on contract timing that CEO Karl Fredrik Staubo acknowledged follows no standard process.
The physical argument for the order is straightforward.
Staubo told analysts that Qatar's Ras Laffan liquefaction complex, which carries total capacity of 88 million tonnes per annum, faces an estimated outage of around 17 million tonnes for at least three to five years following military action in the Middle East.
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