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aoe supply deal, page-19

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    London, September, 17, 2009

    Golar LNG Energy Limited (Golar Energy) Announces Heads of Agreement
    to sell LNG from the Gladstone LNG Fisherman's Landing project to
    Toyota Tsusho Corporation (a Toyota Group trading company).

    Golar Energy is pleased to announce that it has signed a Heads of
    Agreement with Toyota Tsusho Corporation of Japan (Toyota Tsusho) for
    the sale of all of the production from the first train of Gladstone
    LNG. The agreement covers the delivery of approximately 1.5 million
    tonnes per annum of LNG to Toyota Tsusho over a 12 year period from
    2014 to 2026, with a separate build up period commencing at the end
    of 2012, as well as the parties' intention to discuss Toyota Tsusho's
    potential acquisition of a minority equity interest in the Gladstone
    LNG Fisherman's Landing project.

    Golar Energy will provide the shipping necessary to transport the LNG
    from Australia to Toyota Tsusho's nominated receiving facilities.
    Delivery of the LNG will utilise up to two of Golar's existing LNG
    Carriers.

    Oscar Spieler, Golar Energy's CEO commented that "We are delighted to
    have reached this important milestone in the development of the
    Gladstone LNG project. This agreement is a significant milestone for
    the project and we are very proud to have reached agreement with a
    corporation of the standing of Toyota Tsusho. We look forward to
    building a strong and mutually beneficial relationship with Toyota
    Tsusho over the life of the project.

    This announcement is further evidence of the leading position of the
    Gladstone LNG Fisherman's Landing project in the rapidly developing
    LNG from Coal Seam Gas sector. The signing of the HOA significantly
    advances Golar Energy's strategy of building a "midstream" LNG
    position for the company which covers liquefaction, shipping and
    regasification. The Gladstone LNG project has the potential to
    materially enhance the earning capacity and profile of Golar Energy."

    In February 2009 an HOA with the Australian listed company Liquefied
    Natural Gas Ltd (LNG Ltd) was signed covering the joint development
    of the Gladstone LNG project to produce LNG from Coal Seam Gas (CSG)
    in Gladstone, Australia.

    The project company Gladstone LNG Pty Ltd (Gladstone LNG) is
    intending to develop a mid-scale (1.5 million tonne per annum per
    train) liquefied natural gas plant in the Port of Gladstone,
    Australia. The plant will purify and liquefy CSG sourced from the
    Arrow Energy Ltd gas fields, located in Central Queensland, north
    east Australia. Golar Energy and LNG Ltd have agreed to each take an
    equity position of 40% in the GLNG joint venture. Arrow Energy has an
    option to take the final 20% equity in the project. The current
    estimated development cost for the LNG facility is approximately USD
    500 million. The CSG will be delivered by Arrow Energy to the LNG
    plant boundary at Gladstone. Once the CSG has been processed at the
    LNG plant, it will be loaded onto Golar Energy owned LNG Carriers for
    export markets. First production is currently scheduled for 2012. The
    project also offers attractive expansion opportunities.

    Under the terms of the HOA signed with LNG Ltd, Golar Energy has
    agreed to purchase the full LNG output from the first LNG train on an
    FOB basis.

    Golar LNG Energy Limited
    September 17, 2009
    Hamilton, Bermuda.

    Questions should be directed to:

    Oscar Spieler: CEO - +65 6296 5518
    Golar Management Ltd - +44 207 063 7900:
    Graham Robjohns: Chief Financial Officer


    This announcement was originally distributed by Hugin. The issuer is
    solely responsible for the content of this announcement.


 
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