One of the biggest challenges for a tanker company is how to deal with its older assets. For a company like Golar LNG (NASDAQ: GLNG ) , where a large part of its fleet is getting up there in age, it's even more difficult because Golar's competitors --Gaslog (NYSE: GLOG ) and Teekay LNG Partners (NYSE: TGP ) -- have much younger fleets, and many of their new vessels will have contracts in place before leaving the construction yard. Rather than simply give up on these vessels, though, Golar is implementing a rather creative strategy. It's converting several of its older LNG tankers into floating LNG liquefaction facilities.
When you consider the need to LNG export capacity around the world, you can see how this is a very compelling business strategy. Find out more about how this could benefit Golar, and its chances of making it succeed, by tuning into the video below.
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