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EQUITY METHOD INVESTMENTS (Tables)
 12 Months Ended
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:
 20242023
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 $)20242023
Avenir28,934 35,729 
LOGAS7,183 9,261 
ECGS5,502 5,237 
Aqualung2,046 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 $)20242023
Balance as of January 1,53,982 104,108 
Additions3,948 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 31,43,66553,982