Why These Energy Stocks are Gaining This Week

4. Golar LNG Limited (NASDAQ:GLNG)

Share Price Gains Between Mar. 17 – Mar. 24: 16.03%

As one of the world’s largest independent owners and operators of marine-based LNG midstream infrastructure, Golar LNG Limited (NASDAQ:GLNG) designs, converts, owns, and operates marine infrastructure that turns natural gas into LNG.

Golar LNG Limited (NASDAQ:GLNG) revealed last week that it has agreed to a sale leaseback facility with a consortium of Chinese leasing companies for approximately $1.2 billion for the refinancing of its existing FLNG Gimi debt facility. The facility is expected to close within the second quarter of this year. Upon closing and repayment of the existing debt facility, Gimi MS Corporation is expected to generate net proceeds of approximately $530 million. GLNG will benefit from 70% of these proceeds, equivalent to approximately $371 million.