Off goes GLNG. The stock tumbled down today along with the energy sector and the broader market

Shares of Golar Lng Ltd (GLNG) are trading -6% lower at a price of $27.37 at the time of this writing. While it's generally been a depressing day for this part of the market, the company is faltering behind it's peers in the Energy sector.

Golar LNG Limited has entered into swap arrangements to hedge approximately 50% of its exposure to Dutch Title Transfer Facility (TTF) linked production for 2024 at a TTF price of $51.20/MMBtu.

The hedging transaction secures cash flow visibility for part of our 2024 Distributable Adjusted EBITDA at an attractive historic level, whilst retaining meaningful exposure to the possibility of higher prices.

Golar Lng Ltd has been trading between a 52-week high of $30.66 and a 52-week low of $10.65. The stock has a market cap of $2.96 Billion.

Golar LNG is one of the world's most innovative and experienced independent owners and operators of marine LNG infrastructure. The company developed the world's first Floating LNG liquefaction terminal (FLNG) and Floating Storage and Regasification Unit (FSRU) projects based on the conversion of existing LNG carriers. Front End Engineering and Design (FEED) studies have now been completed for a larger newbuild FLNG solution.