- The sale of Golar Arctic for $24 million marks Golar’s complete withdrawal from the LNG shipping business.
- Golar is now fully committed to floating LNG infrastructure, with its last LNG carrier, Fuji LNG, undergoing conversion into a floating liquefied natural gas (FLNG) unit.
- Golar’s LNG shipping journey began in 1975 and concludes in 2025, shifting focus entirely to FLNG projects.
Golar LNG Limited has officially exited the LNG shipping sector after executing the sale of Golar Arctic, a 2003-built LNG carrier, for $24 million. The transaction is set to close within Q1 2025, finalizing Golar’s departure from its legacy shipping operations.
Fuji LNG Transitions to FLNG Infrastructure
The Fuji LNG carrier completed its final cargo discharge in January 2025 and has since arrived in China for conversion into an MKII FLNG unit at CIMC Shipyard.
This transformation aligns with Golar’s strategic shift toward FLNG infrastructure.
A Historic Chapter Ends for Golar
Reflecting on the transition, Golar CEO Karl Fredrik Staubo remarked:
“The sale of the Golar Arctic marks the conclusion of Golar’s planned exit from the LNG shipping segment, 50 years after taking delivery of our first LNG carrier in 1975.”
“Golar’s transition into a focused FLNG infrastructure company is now complete. We look forward to expanding our market-leading FLNG position.”
FLNG: The Future for Golar
Golar’s pivot to FLNG signals a major shift in its business model.
It has moved away from traditional LNG shipping towards pioneering maritime LNG infrastructure solutions such as Floating Storage and Regasification Units (FSRUs) and FLNGs.
Caution on Forward-Looking Statements
Golar has issued a cautionary note regarding forward-looking statements.
It emphasizes that actual results may differ due to various market uncertainties and external factors.
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Source: Golar LNG
