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EQUITY METHOD INVESTMENTS (Tables) | 12 Months Ended
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Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract] |
Participation percentages, carrying amounts and components of non-consolidated investees | At December 31, 2022 and 2021, we have the following participation in investments that are recorded using the equity method:
| 2022 | 2021
Egyptian Company for Gas Services S.A.E (“ECGS”) | 50.0 | % | 50.0 | %
Avenir LNG Limited (“Avenir”) | 23.5 | % | 23.5 | %
CoolCo | 8.3 | % | — | %
Aqualung Carbon Capture AS (“Aqualung”) | 4.4 | % | — | %
The carrying amounts of our equity method investments as of December 31, 2022 and 2021 are as follows:
(in thousands of $) | 2022 | 2021
CoolCo | 55,439 |  | — |
Avenir | 41,790 |  | 47,913 |
ECGS | 4,503 |  | 4,302 |
Aqualung | 2,376 |  | — |
Equity method investments | 104,108 |  | 52,215 |
The components of our equity method investments are as follows:
(in thousands of $) | 2022 | 2021
Balance as of January 1, | 52,215 |  | 44,385 |
Additions | 129,662 |  | 6,750 |
Net income | 19,041 |  | 1,080 |
Guarantee fee | 1,708 |  | — |
Employee stock compensation | 127 |  | — |
Share of other comprehensive losses | (797) |  | — |
Proceeds from disposal | (97,848) |  | — |
Balance as of December 31, | 104,108 | 52,215
Summarized financial information of our equity method investments shown on a 100% basis are as follows:
(in thousands of $) | December 31, 2022
| CoolCo | ECGS | Avenir | Aqualung
Balance Sheet |  |  |  |
Current assets | 145,338 |  | 36,504 |  | 34,028 |  | 5,900 |
Non-current assets | 1,912,723 |  | 97 |  | 270,177 |  | 159 |
Current liabilities | (278,589) |  | (25,501) |  | (69,509) |  | (359) |
Non-current liabilities | (1,063,959) |  | (931) |  | (92,694) |  | — |
Statement of Operations |  |  |  |
Revenue | 256,434 |  | 58,680 |  | 62,875 |  | 245 |
Net income/(loss) | 110,744 |  | 713 |  | (16,217) |  | (2,830) |
(in thousands of $) | December 31, 2021
| CoolCo | ECGS | Avenir | Aqualung
Balance Sheet |  |  |  |
Current assets | 79,293 |  | 41,690 |  | 59,741 |  | 73 |
Non-current assets | 1,387,215 |  | 107 |  | 208,949 |  | — |
Current liabilities | (417,453) |  | (31,028) |  | (38,557) |  | (70) |
Non-current liabilities | (306,000) |  | (931) |  | (66,179) |  | — |
Statement of Operations |  |  |  |
Revenue | 171,919 |  | 80,972 |  | 16,538 |  | — |
Net (loss)/income | 48,368 |  | 55 |  | 7,119 |  | (472) |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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