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EQUITY METHOD INVESTMENTS (Tables) | 12 Months Ended
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Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract] |
Participation percentages, carrying amounts and components of non-consolidated investees | At December 31, 2024 and 2023, we have the following participation in investments that are recorded using the equity method:
| 2024 | 2023
Avenir LNG Limited (“Avenir”) | 23.4 | % | 23.5 | %
Logística e Distribuição de Gás S.A. (“LOGAS”) | 58.0 | % | 58.0 | %
Egyptian Company for Gas Services S.A.E (“ECGS”) | 50.0 | % | 50.0 | %
Aqualung Carbon Capture AS (“Aqualung”) | 4.4 | % | 4.4 | %
Higas Holdings Limited (“Higas”) | 25.0 | % | — | %
MGAS Comercializadora de Gás Natural Ltda. (“MGAS”) | — | % | 51.0 | %
The carrying amounts of our equity method investments as of December 31, 2024 and 2023 are as follows:
(in thousands of $) | 2024 | 2023
Avenir | 28,934 |  | 35,729 |
LOGAS | 7,183 |  | 9,261 |
ECGS | 5,502 |  | 5,237 |
Aqualung | 2,046 |  | 2,244 |
MGAS (1) | — |  | 1,511 |
Total equity method investments | 43,665 |  | 53,982 |
(1) In May 2024, Macaw Energies Brasil Serviços 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. This resulted in a loss on disposal of $0.5 million. The components of our equity method investments are as follows:
(in thousands of $) | 2024 | 2023
Balance as of January 1, | 53,982 |  | 104,108 |
Additions | 3,948 |  | 9,678 |
Net losses | (4,668) |  | (2,520) |
Guarantees | (957) |  | (751) |
Share of other comprehensive losses | (579) |  | (488) |
Dividends | (456) |  | — |
Net proceeds (including non-cash consideration) from disposals | (4,771) |  | (56,045) |
Impairment of equity method investment | (2,834) |  | — |
Balance as of December 31, | 43,665 | 53,982

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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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