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Golar LNG Signs 20-Year FLNG Deal in Argentina, Shares Up 8%, Pan American Energy to Invest $300 Million

Jul 5, 2024, 01:58 PM

Golar LNG has announced a significant 20-year floating liquefied natural gas (FLNG) agreement in Argentina. The company plans to use the Hilli vessel for the first phase of the project, though there is a possibility of swapping it with another FLNG vessel. Golar LNG will also hold a 10% stake in the joint venture. The deal has positively impacted the market, with Golar LNG shares rising by 8% pre-market. Pan American Energy, owned by the Bulgheroni family, will export liquefied natural gas from Argentina, investing at least $300 million annually. The Omnibus Law and the RIGI will support this growth.