Golar LNG Completes Exit from LNG Shipping to Focus on FLNG Sector

Golar LNG reports it has executed agreements to see the company’s final LNG carrier, Golar Arctic making the end of of its operations in the segment. Despite strong demand in the LNG carrier segment, the company believes there are stronger opportunities in the FLNG (floating liquefied natural gas) as it redirects all of its focus to that segment.

The sale price for the vessel which was built in 2003, is $24 million before transaction-related expenses and it is unencumbered. Golar Arctic has a capacity of 140,000 cbm and is a stream turbine vessel, a growing rarity in the industry. The vessel reportedly offloaded its last cargo in Taichung, Taiwan over a week ago and its AIS signal shows it is anchored off Malacca City, Malaysia awai…