Equity Method Investments (Tables)

6 Months Ended

Jun. 30, 2024

Equity Method Investments and Joint Ventures [Abstract]


	Six months ended June 30,
(in thousands of $)	2024	2023
Share of net losses of Avenir LNG Limited (“Avenir”)	(2,503)	(2,879)

Share of net income of CoolCo	—	1,491
Share of net income of other equity method investments	682	269
(Loss)/gain on disposal (1)	(518)	823
Net losses from equity method investments	(2,339)	(296)

The carrying values of our equity method investments as of June 30, 2024 and December 31, 2023 are as follows:


(in thousands of $)	June 30, 2024	December 31, 2023
Avenir	34,152	35,729
Logística e Distribuição de Gás S.A. (“LOGAS”)	8,340	9,261
Egyptian Company for Gas Services S.A.E (“ECGS”)	5,509	5,237
Aqualung Carbon Capture AS (“Aqualung”)	2,152	2,244
MGAS Comercializadora de Gás Natural Ltda. (“MGAS”) (2)	—	1,511


Equity method investments	50,153	53,982

(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 June 30, 2024, 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) In May 2024, Macaw Energies Brasil Servicos de Gás Natural Ltda, our wholly owned subsidiary, completed the disposal of its 51% equity interest in MGAS for a consideration of $0.8 million (BRL4.25 million). The loss on disposal of $0.5 million is included in the unaudited consolidated statement of operations line-item “Net income/(losses) from equity method investments.”