Golar LNG is exploring a potential sale or merger among its options in a strategic review being conducted with financial adviser Goldman Sachs.

The Bermudian-based company, which specialises in floating infrastructure for the liquefied natural gas industry, also announced a surge in first-quarter net income to $102 million, up from $13 million in the prior-year period, with rising demand for energy resulting from the Iran conflict boosting earnings.

Last year, Golar LNG transitioned from operating a fleet of LNG tankers to focus entirely on providing floating LNG infrastructure, including FLNG vessels that liquefy natural gas offshore.

In March this year, Golar LNG’s board launched a formal process to evaluate strategic alternatives.

The company said options under consideration were a sale, a merger or other business combination, divestiture of assets, or “further optimisation of the corporate structure”.

The statement added: “The company will target solutions that unlock shareholder value and enable faster roll-out of Golar’s FLNG growth pipeline.”

Karl Fredrik Staubo, the company’s chief executive officer, said the first quarter had seen “solid operational performance”.

He added: “Geopolitical events continuing in Ukraine and Russia combined with significant escalation in the Middle East has again driven commodity prices higher and put pressure on the global energy markets.

“We see strengthening demand for energy security and diversification. This reflects on Golar’s business by driving strong momentum in commercial discussions for incremental FLNG projects as well as increased earnings for our commodity exposure.

“We are ramping up activities to order our fourth FLNG within 2026 and to secure attractive long-term FLNG projects.”