Profile: Golar LNG (GLNG.O)

Golar LNG Limited (Golar), incorporated on May 10, 2001, is engaged in the acquisition, ownership, operation, and chartering of liquid natural gas (LNG) carriers and floating storage re-gasification units (FSRUs) through its subsidiaries, and the development of liquefaction projects. On July 10, 2009, the Company’s fleet consisted of 13 vessels and a 50% equity interest in a LNG carrier. It leases eight vessels under long-term financial leases, owns three vessels, including a 60% interest in the Golar Mazo through a joint arrangement with the Chinese Petroleum Corporation, the Taiwanese state oil and gas company. Five of its LNG carriers are contracted under long-term charters and three vessels are in medium-term, five-year market related charter contracts with Shell. In August 2009, the Company transferred various assets to its subsidiary, Golar LNG Energy Limited (Energy).

Golar’s vessels transport LNG from various facilities around the world. Two of its vessels serves under long-term time charter arrangements, one serving routes between Indonesia and Taiwan, while the other is involved in the transportation of LNG from facilities in the Middle East, North Africa and Trinidad to ports principally in the United States and Europe but also Japan.

The Golar Mazo is chartered by Pertamina, the state-owned oil and gas company of Indonesia. The Golar Mazo, which it jointly owns with the Chinese Petroleum Corporation, transports LNG from Indonesia to Taiwan under an 18 year time charter that expires in 2017. BG Group plc (BG), through its subsidiaries, charters three of its vessels on long-term time charters. These vessels, the Golar Freeze, Khannur, Gimi, and the Methane Princess each transport LNG from export facilities in the Middle East and Atlantic Basin nations to ports on the east coast of the United States, Europe and Japan.

The Company competes with BW Gas ASA (Norway), Exmar S.A. (Belgium) Teekay LNG Partners, L.P, Hoegh LNG, Mitsui O.S.K. Lines, Nippon Yusen Kaisha, K Line, Maran Navigation of Greece, A P Moller of Denmark, Overseas Shipholding Group of United States of America, and Pronav ship management.