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SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Reconciliation of net income/(loss) to Adjusted EBITDA

Reconciliations of net income/(loss) to Adjusted EBITDA for the years ended December 31, 2024, 2023 and 2022 are as follows:

(in thousands of $)			2024			2023			2022
Net income/(loss)			80,793			(2,850)			939,057
Income tax (benefit)/expense			(18)			1,870			(438)
Income/(loss) before income taxes			80,775			(980)			938,619
Depreciation and amortization			53,526			50,294			51,712
Impairment of long-lived assets (note 19)			22,933			5,021			76,155
Unrealized loss/(gain) on oil and gas derivative instruments, net (note 8)			101,862			284,658			(288,977)
Realized and unrealized mark-to-market losses/(gains) on our investment in listed equity securities (note 9)			—			62,308			(400,966)
Other non-operating loss/(income), net (note 9)			7,000			(9,823)			(11,916)
Interest income			(37,350)			(46,061)			(12,225)
Interest expense, net			—			—			19,286
(Gains)/losses on derivative instruments, net (note 10)			(65)			7,227			(71,497)
Other financial items, net (note 10)			4,317			900			5,380
Net loss/(income) from equity method investments (note 17)			7,502			2,520			(19,041)
Net (income)/loss from discontinued operations (note 14)			—			(293)			76,450
Adjusted EBITDA			240,500			355,771			362,980

Segment reporting information

			Year Ended December 31, 2024
(in thousands of $)			FLNG			Corporate and other (1)			Shipping			Total results from continuing operations
Statement of Operations:
Total operating revenues			224,959			23,067			12,346			260,372
Vessel operating expenses (2)			(82,284)			(22,644)			(11,840)			(116,768)
Voyage, charterhire and commission expenses, net			—			(33)			(4,782)			(4,815)
Administrative expenses (3)			(1,269)			(26,210)			(26)			(27,505)
Project development expenses (4)			(7,258)			(5,082)			(1)			(12,341)
Realized gain on oil and gas derivative instruments (note 8)			141,088			—			—			141,088
Other operating income			469			—			—			469
Adjusted EBITDA			275,705			(30,902)			(4,303)			240,500
Net loss from equity method investments (note 17)			—			(7,502)			—			(7,502)

Balance Sheet:			December 31, 2024
(in thousands of $)			FLNG			Corporate and other (1)			Shipping			Total
Total assets (5)			3,623,417			639,159			105,101			4,367,677
Equity method investments (note 17)			—			43,665			—			43,665
Capital expenditures (note 18, 19 and 20) (2)			529,263			6,060			63,158			598,481

			Year Ended December 31, 2023
(in thousands of $)			FLNG			Corporate and other (1)			Shipping			Total results from continuing operations
Statement of Operations:
Total operating revenues			245,418			35,086			17,925			298,429
Vessel operating expenses (2)			(65,748)			(19,248)			(6,153)			(91,149)
Voyage, charterhire and commission expenses, net			(583)			(19)			(1,581)			(2,183)
Administrative expenses (3)			(417)			(33,031)			(14)			(33,462)
Project development expenses (4)			(4,151)			(34,909)			(70)			(39,130)
Realized gain on oil and gas derivative instruments (note 8)			199,907			—			—			199,907
Other operating income (notes 7 and 19)			15,542			7,817			—			23,359
Adjusted EBITDA			389,968			(44,304)			10,107			355,771
Net (loss)/income from equity method investments (note 17)			—			(4,834)			2,314			(2,520)

Balance Sheet:			December 31, 2023
(in thousands of $)			FLNG			Corporate and other (1)			Shipping			Total
Total assets			3,160,457			866,088			57,442			4,083,987
Equity method investments (note 17)			—			53,982			—			53,982
Capital expenditures (note 18, 19 and 20)			568,485			4,406			8,492			581,383

			Year Ended December 31, 2022
(in thousands of $)			FLNG			Corporate and other (1)			Shipping			Total results from continuing operations
Statement of Operations:
Total operating revenues (6)			214,825			43,230			9,685			267,740
Vessel operating expenses (2)			(58,583)			(6,578)			(7,641)			(72,802)
Voyage, charterhire and commission expenses, net			(600)			(34)			(1,810)			(2,444)
Administrative expenses (3)			22			(38,224)			102			(38,100)
Project development expenses (4)			(5,335)			(2,637)			(45)			(8,017)
Realized gain on oil and gas derivative instruments (note 8)			232,020			-			-			232,020
Other operating losses			(15,417)			-			-			(15,417)
Adjusted EBITDA			366,932			(4,243)			291			362,980
Net income from equity method investments (note 17)			—			(5,193)			24,234			19,041

Balance Sheet:			December 31, 2022
(in thousands of $)			FLNG			Corporate and other (1)			Shipping			Total results from continuing operations			Assets held for sale			Total results from continuing operations
Total assets			2,815,552			1,410,587			52,700			4,278,839			721			4,279,560
Equity method investments			—			48,669			55,439			104,108			—			104,108
Capital expenditures			301,292			—			2,901			304,193			—			304,193

(1) Includes inter-segment eliminations arising from vessel and administrative management fees revenue segments.

(2) Includes crew, repairs and maintenance, spares, stores and consumables and insurance costs.

(3) Includes employee compensation and benefits, audit and accounting fees, legal fees and other corporate costs, which are managed centrally under our “Corporate and other” segment.

(4) Includes costs incurred for early-stage development activities, feasibility studies, and business development efforts for projects not yet at Final Investment Decision (“FID”).

(5) In March 2024, we acquired the Fuji LNG, the donor vessel for MKII FLNG for $77.5 million and consequently the deposit of $15.5 million was reclassified from “Other non-current assets” to “Vessels and equipment, net”. Upon completion of the acquisition, the vessel's cost and drydocking expenditures incurred during the year were presented under the “Shipping” segment as she was trading as an LNG carrier.

(6) Total operating revenues under the FLNG segment includes $0.9 million revenue from a FLNG study.

Revenue by major customer

For the years ended December 31, 2024, 2023 and 2022, revenues from the following customer accounted for over 10% of our total operating revenues:

(in thousands of $)			2024						2023						2022
Perenco and SNH (1)			224,959			86		%	245,418			82		%	213,970			80		%

(1) LTA with Perenco Cameroon S.A. (“Perenco”) and Société Nationale des Hydrocarbures (“SNH”), (together, the “Customer”) in relation to the FLNG Hilli (note 7).

Revenue by geographic area

The following geographical data presents our revenues and total assets associated with the FLNG Hilli, while operating under the LTA in Cameroon. Our CODM does not evaluate our operating segments according to geographical region or by asset.

Cameroon

			Year Ended December 31,
(in thousands of $)			2024			2023			2022
Liquefaction services revenue			224,959			245,418			213,970

			December 31,
(in thousands of $)			2024			2023			2022
Total assets			1,168,629			1,256,193			1,559,158

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