SOURCE: Golar LNG

July 03, 2008 02:51 ET

LIVORNO FSRU PROJECT - GOLAR FROST SALE

HAMILTON, BERMUDA--(Marketwire - July 3, 2008) - Golar LNG ("Golar") is pleased to announce that the sale of the Golar Frost to OLT Offshore LNG Toscana S.p.a ("OLT-O") for $231 million completed on July 2, 2008. Golar will immediately charter back the vessel until mid 2009 when the vessel is scheduled to commence its conversion.


The book gain on the transaction will be approximately $78 million and net cash generated will be approximately $136 million after debt repayments of $95 million.

The cash will be used for new investments in LNG infrastructure projects as well as for capital expenditure in respect of existing projects and will also partly be used to increase dividends to shareholders.



Golar LNG Limited
Hamilton, Bermuda.
July 2, 2008.

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




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