OREANDA-NEWS. Golar LNG ("Golar" or the "Company") reports a second quarter 2014 ("second quarter") net loss of USD 24.2 million (including a non-cash loss of USD 13.6 million on interest rate swaps).

EBITDA* generated in the quarter amounts to USD 1.1 million.

Total pro-forma EBITDA** on a group-wide basis (including consolidation of Golar Partners) is USD 84.3 million.

Golar takes delivery of the LNG carrier Golar Crystal ("Crystal") on May 15.

On June 30 Golar raises USD 661 million net of fees following the successful follow-on issue of 12,650,000 shares of its common stock (including underwriters' options). Subscription price was USD 54.0.

Spot and short-term chartering market remains challenging due to negative growth in LNG production caused by underperformance of certain existing production facilities.

Board maintains dividend at USD 0.45 per share for the quarter.

Adjusted EBITDA is defined as earnings before interest, depreciation and amortization equal to operating income plus depreciation and amortization.

** Proforma adjusted EBITDA is defined as *above but includes the consolidation of Golar Partners. Refer to Appendix A for the reconciliation of Group-wide results

Subsequent events

On July 2 the Company executed and made effective key agreements for conversion of the 125,000 m3 LNG carrier Hilli to a floating liquefaction vessel (an "FLNGV").

Far East spot LNG prices fall below USD 11 creating strong contango and making storage plays more attractive for traders. Utilisation of Golar fleet improves in August as a result.