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EQUITY METHOD INVESTMENTS (Tables) | 12 Months Ended
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Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Participation percentages, carrying amounts and components of non-consolidated investees | At December 31, 2023 and 2022, we have the following participation in investments that are recorded using the equity method:
| 2023 | 2022
Avenir LNG Limited (“Avenir”) | 23.5 | % | 23.5 | %
Logística e Distribuição de Gás S.A. (“LOGAS”) | 58.0 | % | — | %
Egyptian Company for Gas Services S.A.E (“ECGS”) | 50.0 | % | 50.0 | %
Aqualung Carbon Capture AS (“Aqualung”) | 4.4 | % | 4.4 | %
MGAS Comercializadora de Gás Natural Ltda. (“MGAS”) | 51.0 | % | — | %
CoolCo | — | % | 8.3 | %
The carrying amounts of our equity method investments as of December 31, 2023 and 2022 are as follows:
(in thousands of $) | 2023 | 2022
Avenir | 35,729 |  | 41,790 |
LOGAS | 9,261 |  | — |
ECGS | 5,237 |  | 4,503 |
Aqualung | 2,244 |  | 2,376 |
MGAS | 1,511 |  | — |
CoolCo | — |  | 55,439 |
Total equity method investments | 53,982 |  | 104,108 |
The components of our equity method investments are as follows:
(in thousands of $) | 2023 | 2022
Balance as of January 1, | 104,108 |  | 52,215 |
Additions | 9,678 |  | 129,662 |
Net (losses)/income | (2,520) |  | 19,041 |
Guarantees | (751) |  | 1,708 |
Employee stock compensation | — |  | 127 |
Share of other comprehensive losses | (488) |  | (797) |
Net proceeds from disposal | (56,045) |  | (97,848) |
Balance as of December 31, | 53,982 | 104,108
Summarized unaudited financial information of our material equity method investments shown on a 100% basis are as follows:
|  | December 31, 2023
(in thousands of $) |  | ECGS | Avenir |  | LOGAS |
Balance Sheet |  |  |  |  |  |
Current assets |  | 34,834 |  | 25,447 |  |  | 8,458 |  |
Non-current assets |  | 72 |  | 264,124 |  |  | 8,462 |  |
Current liabilities |  | (22,925) |  | (39,182) |  |  | (1,846) |  |
Non-current liabilities |  | (931) |  | (128,171) |  |  | (243) |  |
Statement of Operations |  |  |  |  |  |
Revenue |  | 50,690 |  | 72,786 |  |  | 11,353 |  |
Net income/(loss) |  | 881 |  | (19,377) |  |  | 1,876 |  |
| December 31, 2022
(in thousands of $) | CoolCo | ECGS | Avenir |  |  |
Balance Sheet |  |  |  |  |  |
Current assets | 145,338 |  | 36,504 |  | 34,028 |  |  |  |
Non-current assets | 1,912,723 |  | 97 |  | 270,177 |  |  |  |
Current liabilities | (278,589) |  | (25,501) |  | (69,509) |  |  |  |
Non-current liabilities | (1,063,959) |  | (931) |  | (92,694) |  |  |  |
Statement of Operations |  |  |  |  |  |
Revenue | 256,434 |  | 58,680 |  | 62,875 |  |  |  |
Net income/(loss) | 110,744 |  | 713 |  | (16,217) |  |  |  |

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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://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
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