Golar LNG Energy Limited - New Venture

Hamilton, Bermuda, May 19, 2010

The Board of Golar LNG Energy Limited ("Golar" or the "Company") is pleased to announce that the Company, in line with its stated strategy, is establishing a new subsidiary which will position Golar in the market for managing and trading LNG cargoes. Activities will include structured services to outside customers (such as risk management services), arbitrage activities as well as proprietary trading.

In order to manage this business, Golar has recruited a group of 5 individuals with extensive experience in LNG and commodities trading. The group, led by Blake Herndon, 49 years, has successfully developed and managed similar businesses within Citigroup, Williams and Koch Industries. It is expected that additional people will be recruited to the new subsidiary as its business plan is implemented.

Golar's Chairman, Tor Olav Troim, says in a comment; "The large increase in LNG production combined with the extensive construction of import terminals around the world provides the basis for a more logistical approach to the LNG market. This trend is further enhanced by low shipping rates, the seasonality of the market and the global price differentials between the Asian, European and American gas markets. Golar's intention with this new venture is to work together with the large LNG producers in order to help them maximise the value of their production while, at the same time, providing more flexibility to existing and new buyers of LNG".

The transaction confirms the Board's commitment to develop Golar with three distinct business areas, (i) traditional LNG shipping, (ii) LNG infrastructure projects which will include floating liquefaction and re-gasification terminals, and (iii) management services to third parties combined with proprietary trading of LNG.

The new venture allows the Company to develop itself into an integrated provider of LNG and related services to its customers combining LNG cargoes, LNG shipping services and floating re-gasification terminals.

Blake Herndon says in a comment; "We are extremely pleased to have made a deal with Golar. Golar's strong foothold and long history in the LNG shipping market combined with the Company's creative mindset in developing new technology will, together with the experience and relationships we bring, create a very strong franchise. The rapid developments in the trading pattern for LNG provides an interesting opportunity for the new venture. The ongoing separation of oil and gas prices further enhances this as it provides the opportunity to reduce the feed cost of our customers by substituting oil products with flexible delivery of LNG".

Golar will make a significant equity investment in its new subsidiary, which will be drawn from the Company's cash reserves. The subsidiary will be further supported by credit lines from commercial banks. It is expected that the business area will be fully operational from September and the Board expects the business to be profitable from the first full year of operation.

Golar LNG Energy Limited