While Golar received $58.8 million in revenues during the January 1 to March 31, 2008, they had a net loss of $15.7 million due to a combination of low charter rates compared to Q4 2007, higher vessel operating expenses (likely due in part to the addition of a new vessel, "Granatina," to the fleet), and higher net interest expense. Overall, these losses caused the stock to drop steadily in the month following the release.
For $450 million, GLNG has the responsibility of providing Dubai with a floating gas storage and regasification unit (the FSRUs referenced in the main article). GLNG will be converting one of its current LNG vessels to make this happen, so they will not be able to receive revenues from that vessel for the next 10 years.
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