LNG

Fitch Ratings has revising down EBITDA margins for global corporates to below 18%, down 0.5pp from forecasts in early 2025. For the oil & gas sector, Fitch changed its outlook from ‘neutral’ to ‘deteriorating’ after the rating agency already cut its global GDP growth projections in April due to the uncertainty surrounding US tariffs.

Flex LNG Ltd reported vessel operating revenue of $84.2 mill in the second quarter of 2022, compared to $74.6 mill in the previous quarter.

Höegh LNG suffered a net loss after tax of $7.5 mill for the second quarter of this year, down from a net profit of $2 mill in the preceding quarter. 

Polish state-owned oil and gas developer PGNiG Group posted revenue of PLN78.37 bill, up 214% year-on-year for the first six months of this year. 

ASX quoted Australian oil and gas developer Beach Energy has reported total revenue rose by 13% to A$1.8 bill, underlying EBITDA was up by 17% to A$1.1 bill and underlying NPAT up 39% to A$504 mill for fiscal year 2022.

Golar LNG Limited has reported net income of $230 mill and adjusted EBITDA of $101 mill for the second quarter of this year, compared to $471.43 and $39.67 mill for 2Q21, respectively.

FSRU owner and operator, Excelerate Energy reported a net loss of $4 mill for the second quarter of this year, which reflected an expected $21.8 mill one-time charge for an IPO-related FSRU acquisition. 

Höegh LNG Holdings was hit by seasonal variations and drydocking costs in the second quarter of this year.

As a result, the LNGC and FSRU owner reported a net loss of $3.6 mill for the period.

Flex LNG suffered a net loss of $3.9 mill for the second quarter of this year, compared to a loss of $2.9 mill in 2Q18 and loss per share of $0.07, compared to a net loss of $3.4 mill and loss per share of $0.06 for 1Q19.

GasLog Ltd has reported a loss of $10.5 mill on revenues of $154.3 mill for the second quarter of this year.