Golar Announces Sale of LNG Carrier Golar Grand (Bermuda)

Golar LNG Limited announced yesterday that it has entered into an agreement to sell the companies that own and operate the LNG Carrier Golar Grand, together with its time-charter, to Golar LNG Partners L.P. for a price of USD265 million. The transaction is subject to the satisfaction of certain closing conditions.

The Company expects to reinvest a significant part of the net proceeds received from the sale in its newbuilding program and other capital projects.

This is the third vessel acquisition facilitated by Golar’s corporate structure since Golar LNG Partners’ IPO, once again proving the efficiency of the structure when it comes to the monetization of long term contracts that simultaneously grow Golar LNG Partners.

[mappress]

Golar LNG, November 2, 2012