Golar Lng Ltd 6-K, filed Jul 20, 2021

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2021

Commission File Number: 000-50113

Golar LNG Limited (Translation of registrant's name into English)

2nd Floor S.E. Pearman Building 9 Par-la-Ville Road Hamilton HM 11 Bermuda (Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F [ X ]      Form 40-F [   ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

**Note:**Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

**Note:**Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

On July 20, 2021, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

(c) Exhibit 99.1. Press release dated July 20, 2021

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

EdgarFiling

EXHIBIT 99.1

Golar, Perenco and SNH agree increased capacity utilisation of FLNG Hilli Episeyo

Golar LNG Limited (“Golar” or “the Company”) announces today that it has agreed with Perenco Cameroon (“Perenco”) and Société Nationale des Hydrocarbures (“SNH”) to increase utilisation of the FLNG Hilli Episeyo (“Hilli”) (the “Agreement”).

Commencing 2022 the capacity utilisation of Hilli will increase by 200,000 tons of LNG, bringing total utilisation in 2022 to 1.4 million tons. The tolling fee for the 2022 incremental capacity is linked to European gas prices at the Dutch Title Transfer Facility (“TTF”). At current average 2022 TTF gas prices (avg. $8.70/MMBTU for 2022) the increased capacity utilization represents an expected US$26.1m in incremental Adjusted EBITDA. For each US$1.00/mmBtu change in TTF, this Adjusted EBITDA will increase (or decrease) by US$3.7m.

In addition to the 2022 capacity increase, Perenco and SNH intend to drill and appraise 2 to 3 incremental natural gas wells during 2021, and subsequently upgrade upstream facilities in 2022 to support further sustained increases in production from 2023 onward.

Under the Agreement, Perenco and SNH are granted an option (“Option”) to increase capacity utilisation of Hilli by up to 400,000 tons of LNG per year from January 2023 through to the end of the current contract term in 2026.  This has the potential to increase total annual LNG production from Hilli to 1.6 million tons from January 2023 onwards. The tolling fee for the 2023+ incremental capacity will also be linked to TTF. Based on current average 2023 TTF gas prices ($6.72/MMBTU avg. future price for 2023) the additional 400,000 tons of production would generate US$30.4m of incremental annual Adjusted EBITDA. For each US$1.00/mmBtu change in TTF, this Adjusted EBITDA will increase (or decrease) by US$7.4m. The Option must be declared during the third quarter of 2022.

At current TTF future prices, and assuming the Option is exercised, the incremental Adjusted EBITDA backlog of the potential increase in capacity utilization for Hilli from 2022 until July 2026 is expected to be around US$113m.

Golar has an 86.9% economic interest in the incremental Adjusted EBITDA generated as a result of the Agreement. The Agreement will not change any existing terms, conditions, tolling fees or the Brent Oil link associated with trains 1 and 2.

Golar CEO Karl Fredrik Staubo commented “We are pleased to announce increased capacity utilization of our FLNG Hilli, unlocking embedded value to our shareholders by utilizing more of Hilli’s 2.4 million tons of liquefaction capacity. The innovative tolling fee arrangement delivers on our announced strategy to increase our upstream LNG and gas exposure. Today’s announcement is a further testimony to Hilli’s strong track record of 100% commercial uptime since delivery in 2018 and will benefit all stakeholders involved in the project, as well as bringing us closer to our target to reach full capacity utilization of Hilli.”

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflects management’s current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as “may,” “could,” “should,” “would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue,” or the negative of these terms and similar expressions are intended to identify such forward-looking statements. Reference to Adjusted EBITDA assumes there are no changes to the current accounting treatment of FLNG Hilli in our financial reporting.

These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Golar LNG Limited undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable law.

Hamilton, Bermuda

July 20, 2021

Enquiries:

Golar Management Limited: + 44 207 063 7900

Stuart Buchanan