Golar LNG Energy - Sale of LNG Limited shares

14.11.2009


Golar LNG Energy Limited (Golar Energy) advises that it has sold a block of 9.6 million LNG Limited shares to institutional investors. Golar Energy's holding after this sale amounts to approximately 6.3% of LNG Limited's issued share capital.

Oscar Spieler, CEO of Golar Energy Management, commented that: "We have taken this opportunity to rebalance our investment portfolio and realise funds that will, in due course, likely be invested directly in the Gladstone LNG Fisherman's Landing project. We are strongly committed to the Gladstone LNG Fisherman's Landing project, we are pleased with the progress of the project, which has achieved some important milestones over the last few months and we continue to invest directly in the project in terms of significant technical and commercial resources including the secondment of personnel to the project. The Gladstone LNG Fisherman's Landing project remains an important part of Golar Energy's strategy and portfolio."

The sale will realise funds of approximately USD 11 million and result in an accounting profit of approximately USD 8 million.

Golar LNG Limited