YPF investor day removes doubt on Golar LNG position in Argentina, says Stifel

Stifel notes that YPF (YPF) is hosting their investor day and as part of their presentation, the company laid out plans for the LNG development from the Vaca Muerta. YPF is looking at three projects, with six FLNG units, and the first is “unquestionably Golar’s Hilli (2.5 mtpa) and the MK2 Fuji (3.5 mtpa), which are the only two vessels in the world that fit that profile and availability timeline,” the analyst tells investors. There “should be no question at this point on at least Hilli and Fuji,” which the firm believes translate into collective EBITDA of $1.5B for the company and “a share price in the $50-$60 range, even discounting for the timeline for development,” added the analyst, who has a Buy rating and $55 price target on Golar LNG (GLNG) shares.