Why Golar LNG Stock Is Soaring Today

Shares of Golar LNG (NASDAQ: GLNG) rallied roughly 10% by 3:30 p.m. EDT on Wednesday. Fueling the stock was a report that it's in discussions with a customer to extend a contract on one of its vessels.

Cameroon's National Hydrocarbons Corp. has started discussions with various partners to increase its production of liquified natural gas (LNG). As part of that negotiating process, it's working with Golar LNG to keep its Hilli Episeyo vessel stationed in the country beyond its current contract, which runs through 2026. That would enable the country to exploit the Rio Del Rey natural gas deposit.

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Source Fool.com