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Pareto Conference – Golar Lng Partners Lp

Golar Lng Partners Lp · Sep 17, 2020 · 15 slides

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Slides

  1. Pareto Conference – Golar Lng Partners Lp – slide 1
    Pareto Conference September 2020
  2. Pareto Conference – Golar Lng Partners Lp – slide 2
    Company overview Production & Shipping Regasification Liquefaction FLNG LNG Carriers FSRU FLNG Hilli Episeyo1 Golar Maria Golar Grand Golar Spirit NR Regas Satu Methane Princess Golar Mazo2 Golar Freeze Golar Winter…
  3. Pareto Conference – Golar Lng Partners Lp – slide 3
    1.9bn of revenue backlog1 2020 2021 2022 2023 2024 2025 2026 FSRU Golar Freeze 2033 Energy & Logistics 15 year Jamaica charter Company FSRU Golar Winter 10-year contract extended to 15 years FSRU Nusantara Regas Satu 11-year…
  4. Pareto Conference – Golar Lng Partners Lp – slide 4
    Stable operational utilization Continued strong commercial utilization from operating fleet Note: Excludes vessel in cold layup Continued operational excellence across the fleet. FLNG Hilli with 100% economical utilization since…
  5. Pareto Conference – Golar Lng Partners Lp – slide 5
    Debt maturity profile 800 700 600 500 USD m 400 300 200 100 - 2020 2021 2022 2023 2024 2025 High yield bonds Debt Balloon Repayment Debt Interim Instalments Golar Eskimo Contractual debt Successfully…
  6. Pareto Conference – Golar Lng Partners Lp – slide 6
    Continued attractiveness of LNG support adoption Asia: LNG is currently the cheapest hydrocarbon Europe: Gas the cheapest hydrocarbon (incl. tax) 16,0 18,0 14,2 14,2 14,0 16,0 2,0 12,1 14,0 2,2 11,6 12,0 10,8 USD/MMBTU 12,0…
  7. Pareto Conference – Golar Lng Partners Lp – slide 7
    Improving FSRU supply/demand balance FSRU newbuild activity FSRU awards 10 10 9 9 9 Units ordered / Reported for conversion 8 8 7 7 6 6 6 of Awards 6 6 5 5 5 4 4 3 3 3 3 3 2 2 2 2 2 1 1 1 1 1 0 0 2000…
  8. Pareto Conference – Golar Lng Partners Lp – slide 8
    Parceling FSRU capacity can boost re- contracting returns Illustrative FSRU economics (volume vs. tolling fee per MMBTU throughput)1 Tolling fee USD 0.5/MMBTU Tolling fee USD 1/MMBTU Tolling fee USD 1.5/MMBTU 250 Illustrative…
  9. Pareto Conference – Golar Lng Partners Lp – slide 9
    Summary Focus on refinancing: Starting with the 7-vessel bank facility before year end (542 million outstanding as of June 30, 2020), Thereafter contemplate to refinance the two unsecured bonds prior to May 2021 when the call…
  10. Pareto Conference – Golar Lng Partners Lp – slide 10
    THANK YOU Golar LNG Partners LP 11
  11. Pareto Conference – Golar Lng Partners Lp – slide 11
    Appendix A Non-GAAP measures Non GAAP Measures impacted by managements monitoring of the FLNG segment (i.e. our equity investment in Hilli LLC) on a proportionate basis: In Q4 2018 the Partnership changed the way in which it measures…
  12. Pareto Conference – Golar Lng Partners Lp – slide 12
    Appendix B Total Adjusted EBITDA Three months ended Three months ended (in thousands) June 30, 2020 March 31, 2020 Net income / (loss) 14,283 (33,221) Depreciation and amortization 20,046 19,963 Other non-operating income (164)…
  13. Pareto Conference – Golar Lng Partners Lp – slide 13
    Appendix C Adjusted Net Debt At June 30 At March 31 (in thousands) 2020 2020 Current portion of long-term debt and short-term debt 602,633 105,394 Current portion of obligation under finance lease 2,081 1,965 Long term debt…
  14. Pareto Conference – Golar Lng Partners Lp – slide 14
    Appendix D - Consolidated Statements of Income 2020 2020 (USD thousands) Apr-Jun Jan-Mar (unaudited) (unaudited) 72,114 69,815 Total operating revenues (12,991) (16,212) Vessel operating expenses (2,359) (2,184) Voyage and…
  15. Pareto Conference – Golar Lng Partners Lp – slide 15
    Appendix E Consolidated Balance Sheet 2020 2020 Jun 30 Mar 31 (USD thousands) Unaudited Unaudited Current assets Cash and cash equivalents 32,781 35,095 Restricted cash and short-term deposits 59,170 44,050 Current portion of net…

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