Golar to sell floating storage to LNG partnership

Source:Golar LNG Limited

Golar to sell floating storage to LNG partnership

Golar LNG Limited (the "Company") announced today that it has entered into an agreement to sell its ownership interest in the company that will own and operate the floating storage and regasification unit ("FSRU") Golar Igloo ("Igloo") to Golar LNG Partners L.P. ("Golar Partners") for a price of USD310 million. The transaction is subject to the satisfaction of certain closing conditions.

Net proceeds received from the sale will be applied against the remaining interim instalments of the Company's newbuild program and create liquidity which can be used as part equity in a potential ordering of a FLNG vessel.

This transaction is further testament to a corporate structure that has now fully funded the equity component of the Company's current newbuilding program whilst simultaneously providing for the growth of Golar Partners.

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