XML 376 R57.htm IDEA: XBRL DOCUMENT v3.23.1
EQUITY METHOD INVESTMENTS (Tables)
 12 Months Ended
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:
 20222021
Egyptian Company for Gas Services S.A.E (“ECGS”)
50.0 %50.0 %
Avenir LNG Limited (“Avenir”)
23.5 %23.5 %
CoolCo8.3 %— %
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 $)20222021
CoolCo55,439 — 
Avenir41,790 47,913 
ECGS4,503 4,302 
Aqualung2,376 — 
Equity method investments104,108 52,215 
The components of our equity method investments are as follows:
(in thousands of $)20222021
Balance as of January 1,52,215 44,385 
Additions129,662 6,750 
Net income19,041 1,080 
Guarantee fee1,708 — 
Employee stock compensation127 — 
Share of other comprehensive losses(797)— 
Proceeds from disposal(97,848)— 
Balance as of December 31,104,10852,215
Summarized financial information of our equity method investments shown on a 100% basis are as follows:
(in thousands of $)December 31, 2022
CoolCoECGSAvenirAqualung
Balance Sheet
Current assets145,338 36,504 34,028 5,900 
Non-current assets1,912,723 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
Revenue256,434 58,680 62,875 245 
Net income/(loss)110,744 713 (16,217)(2,830)

(in thousands of $)December 31, 2021
CoolCoECGSAvenirAqualung
Balance Sheet
Current assets79,293 41,690 59,741 73 
Non-current assets1,387,215 107 208,949 — 
Current liabilities(417,453)(31,028)(38,557)(70)
Non-current liabilities(306,000)(931)(66,179)— 
Statement of Operations
Revenue171,919 80,972 16,538 — 
Net (loss)/income48,368 55 7,119 (472)