January 03, 2008 02:45 ET

Golar LNG - Livorno FSRU Project

HAMILTON, BERMUDA--(Marketwire - January 3, 2008) -

Golar LNG ("Golar") is pleased to announce that it has signed a final Memorandum of Agreement with regard to the sale of the Golar Frost to OLT Offshore LNG Toscana S.p.a ("OLT-O") for EUR 160 million or approximately $231 million. OLT-O is the project company in control of the Livorno FSRU project (Italy) in which Golar currently owns a 16% interest. The other major shareholders are Endesa Europa S.L., IRIDE Mercato S.p.A. and OLT Energy Toscana S.p.A. This sale agreement represents a major step forward in the development of the project.

The vessel is currently fixed on a time charter until the end of March 2008, with extension options thereafter. All income from the vessel will be for Golar's benefit until sale completion which is expected to occur in June 2008.

Golar LNG Limited
Hamilton, Bermuda.

Graham Robjohns
Gary Smith
Golar Management (UK) Ltd
+44 (0) 207 517 8600

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