West Java FSRU Time Charter Party Execution

As a further update to our press announcements made on October 12 and November 4, 2010,
Golar LNG Energy is pleased to announce that the long term Floating Storage and
Regasification (FSRU) and Mooring time charter with PT Nusantara Regas, a joint venture
between Pertamina and PGN (“West Java FSRU Project “) has been concluded and was
executed on April 20 2011.
The contract duration is for an initial term of approximately eleven years with automatic
conditional extension options up to 2025. The West Java FSRU Project contract value for the
initial period is approximately US $500 million.
Since the execution of the Letter of Intent in November 2010, Golar has ordered the long lead
items, carried out conversion engineering and the vessel nominated for this contract,
“KHANNUR” has been positioned to Singapore where the physical conversion works are
now underway at Jurong Shipyard in Singapore.
Upon completion of conversion and delivery in the first quarter of 2012, “KHANNUR” will
be permanently moored at a purpose built mooring structure located 15 km offshore West
Java. The converted “KHANNUR” will be capable of storing ~ 125,000 cubic meters of LNG
and delivering up to 500 MMSCFD (~3.8 MTA) of regasified LNG via Nusantara Regas’s
pipeline to fuel two Power Plants owned and operated by Perusahaan Listrik Negara
(“PLN”), Indonesia’s national power company.
The Golar group has already completed three FSRU conversions over the last three
years. The FSRU for the West Java FSRU Project will be similar in design to the latest of
these three projects, the “GOLAR FREEZE”, which recently delivered under a long term
contract in Dubai. The West Java FSRU Project will be Indonesia’s first LNG regasifcation
US 826879v.2
terminal and significantly, the first FSRU project in Asia. Golar is currently bidding on
PGN’s FSRU, Mooring and Pipeline tender to be located offshore Medan, Sumatra.
Golar Energy’s FSRU technology offers reliable and cost effective solutions to fast track the
import and regasification of LNG.
Golar Energy’s CEO, Doug Arnell said “We are very proud to have executed this foundation
agreement for the West Java project. We also wish to express our appreciation to the
Nusantara Regas team for their dedication in finalizing the contract. We believe this contract
for Indonesia and Asia’s first FSRU will be the catalyst for the development of additional
floating LNG projects within the Asia Pacific region. Indonesia has announced plans for
more FSRU projects to include small scale LNG projects and we look forward to having the
opportunity to deliver more fast track and low cost solutions.”