Sale of shares in New Fortress Energy

Rhea-AI Summary

Golar LNG Limited has sold approximately one third of its 18.6 million shares in New Fortress Energy Inc., expecting to raise net proceeds of about $250 million. The company plans to use these funds for FLNG growth projects. CEO Karl Fredrik Staubo expressed enthusiasm for future FLNG prospects and confirmed Golar's intention to remain a supportive shareholder of NFE. The sale follows Golar's previous transaction involving Hygo Energy Transition, completed in April 2021.

Positive

• Sale of 1/3 of NFE shares expected to generate approximately $250 million.
• Funds will be deployed towards FLNG growth projects.

Negative

• None.

Golar LNG Limited (“Golar”) announces today that it has sold approximately one third of the 18.6 million New Fortress Energy Inc. ("NFE") shares received upon completion of the sale of Hygo Energy Transition to NFE in April 2021. The sale is expected to raise net proceeds of approximately $250 million which Golar will seek to deploy to FLNG growth projects. Commenting on the sale, Golar CEO Karl Fredrik Staubo said “Golar is excited about new FLNG growth prospects, including those being pursued by NFE and plans to remain a supportive shareholder for the foreseeable future”.

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflects management’s current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as “may,” “could,” “should,” “would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue,” or the negative of these terms and similar expressions are intended to identify such forward-looking statements.

These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Golar LNG Limited undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable law.

Hamilton, Bermuda

April 06, 2022

Enquiries:

Golar Management Limited: + 44 207 063 7900

Karl Fredrik Staubo - CEO

Eduardo Maranhão - CFO

Stuart Buchanan - Head of Investor Relations

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

FAQ

What is Golar LNG's recent sale of New Fortress Energy Inc. shares about?

Golar LNG sold one third of its 18.6 million shares in New Fortress Energy Inc., raising approximately $250 million for FLNG growth projects.

How much money will Golar LNG raise from the sale of NFE shares?

The sale of New Fortress Energy shares is expected to raise net proceeds of around $250 million.

What does Golar LNG plan to do with the proceeds from the NFE share sale?

Golar LNG plans to use the proceeds from the sale for FLNG growth projects.

What did Golar LNG's CEO say about the share sale?

CEO Karl Fredrik Staubo stated that Golar is excited about new FLNG growth prospects and intends to remain a supportive shareholder of NFE.

When was the deal with New Fortress Energy Inc. completed?

The deal involving Hygo Energy Transition and New Fortress Energy Inc. was completed in April 2021.