HAMILTON, BERMUDA -- (MARKET WIRE) -- 07/03/08 -- Golar LNG ("Golar") is pleased to
announce that the sale of the Golar
Frost to OLT Offshore LNG Toscana S.p.a ("OLT-O") for $231 million
completed on July 2, 2008. Golar will immediately charter back the
vessel until mid 2009 when the vessel is scheduled to commence its
The book gain on the transaction will be approximately $78 million
and net cash generated will be approximately $136 million after debt
repayments of $95 million.
The cash will be used for new investments in LNG infrastructure
projects as well as for capital expenditure in respect of existing
projects and will also partly be used to increase dividends to
Golar LNG Limited
July 2, 2008.
Golar Management (UK) Ltd
+44 (0) 207 517 8600