Golar LNG Sells Newbuilding

Golar LNG on Tuesday announced a deal to sell its interest in new building DSME hull number 2244 to Maran Gas for the gross consideration of approximately $92.5 million, this represents an implicit vessel price of $201 million.

Golar estimates that its book cost of investment in this vessel at completion of the sale will be approximately $51.5 million and this transaction therefore represents a significant return on investment for shareholders.

In view of the fact that Golar has a number of open vessels exposed to the spot market and the company's investment plans in respect of its various LNG infrastructure projects, this transaction is seen as an opportunity to strengthen the Golar's balance sheet as well as realize a significant profit while not significantly reducing the company's future business potential.