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Equity Method Investments | 9 Months Ended
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Sep. 30, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Equity method investments | EQUITY METHOD INVESTMENTS
| Nine months ended September 30,
(in thousands of $) | 2023 | 2022
Share of net income of CoolCo | 1,491 |  | 16,547 |
Share of net losses of Avenir | (3,969) |  | (3,967) |
Share of net income of other equity method investments | 376 |  | 416 |
Gain on disposal of CoolCo (1) | 823 |  | — |
Net (losses)/income from equity method investments | (1,279) |  | 12,996 |
The carrying values of our equity method investments as of September 30, 2023 and December 31, 2022 are as follows:
(in thousands of $) | September 30, 2023 | December 31, 2022
Avenir | 37,667 |  | 41,790 |
CoolCo (1) | — |  | 55,439 |
Others (2) | 7,673 |  | 6,879 |
Equity method investments | 45,340 |  | 104,108 |
(1) In March 2023, we sold 4.5 million of our CoolCo shares at NOK 130/$12.60 per share for net consideration of $56.1 million, inclusive of $0.1 million fees. As of September 30, 2023, following the sale of our CoolCo shares, we retain one common share in CoolCo which is required by debt covenants relating to the guarantees we continue to provide CoolCo. The gain on disposal of $0.8 million is included in the unaudited consolidated statement of operations line-item “Net income/(losses) from equity method investments.” (2) “Others” refers to our equity method investments in Egyptian Company for Gas Services S.A.E, Aqualung Carbon Capture and MGAS Comercializadora de Gás Natural Ltda. (“MGAS”).

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 323 -SubTopic 740 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481543/323-740-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org//323/tableOfContent + Details
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