LONDON (Bloomberg) — Bermuda-based Golar LNG, a liquefied natural gas shipping line whose shares have fallen 67 percent this year, gained in Oslo trading after Goldman Sachs Group Inc. analysts recommended investors buy the stock.

Golar gained as much as 16 percent to trade at 39.9 Norwegian kroner ($5.57) and was up 15 percent as of 12.56 p.m. in the city, valuing the company at 2.6 billion kroner. Goldman analysts including Hugo Scott-Gall said that over a two-year period the shares are worth 42 kroner.

"If they are buying or getting customers to buy" it is probably boosting the shares, Erik Helberg, an analyst at Pareto Securites ASA, who has had a "hold" recommendation, said by phone. The shares are also gaining after being "massively oversold", he said.

Golar stands to gain from a "robust" balance sheet and because it doesn't need to fund expansion with capital expenditure, Goldman said. The "long- term" prospects for shippers of LNG, gas chilled to liquid for transportation by sea, are strong, the analysts wrote.