Golar LNG secures 20-year charter for MKII FLNG in Argentina

Golar LNG announced all conditions precedent have been met for a 20-year charter of its 3.5MTPA MKII FLNG unit to Southern Energy S.A. (SESA) in Argentina. This milestone, following definitive agreements in May and FID in August 2025, secures an $8 billion net earnings backlog over 20 years, translating to $400 million in annual EBITDA for Golar.

The MKII FLNG is undergoing conversion at CIMC Raffles Shipyard, with delivery scheduled for late 2027 and operations commencing in 2028. The conversion budget is approximately $2.2 billion, with $1.0 billion spent to date, fully equity-funded. The project also received key governmental approvals, including a 30-year LNG export authorization.

Golar's chief executive, Karl Fredrik Staubo, highlighted that with this charter, all three of Golar’s existing FLNGs now have 20 years of earnings visibility, representing a combined EBITDA backlog of $17 billion. The company plans to increase its focus on new FLNG growth opportunities.