Golar LNG has published its interim financial results for the quarter ended March 31, 2026.
The company reported Q1 2026 net income attributable to shareholders of US$84 million inclusive of US$37 million of non-cash items, adjusted gross operating profit of US$106 million, and total cash of US$1 billion.
"Q1 saw solid operational performance with continued 100 per cent economic uptime for the FLNG Hilli and strong operational performance from the FLNG Gimi producing 19 per cent more than the contractual committed volume," said Golar LNG CEO Karl Fredrik Staubo. "The MKII FLNG under conversion progressed according to budget and schedule during the quarter."
Staubo added that geopolitical events continuing in Ukraine and Russia combined with significant escalation in the Middle East have again driven commodity prices higher and put pressure on the global energy markets.
"We see strengthening demand for energy security and diversification. This reflects on Golar’s business by driving strong momentum in commercial discussions for incremental FLNG projects as well as increased earnings for our commodity exposure. We are ramping up activities to order our fourth FLNG within 2026 and to secure attractive long-term FLNG projects."
Golar LNG's net income in Q1 2026 reached US$101.804 million compared to US$12.939 million in the same quarter last year. Adjusted gross operating profit in Q1 2026 meanwhile totalled US$105.576 million compared to US$40.936 million in Q1 2025. Overproduction-related earnings from the FLNG Gimi together with lower operating costs partially offset by lower realised gains on oil and gas derivative instruments and higher administration costs account for most of the increase.
Operating revenues and costs under corporate and other items in Q1 2026 are attributable to one FSRU operation and maintenance agreement in respect of the Italis LNG. This contract concluded in April 2026.