Golar Power reaches Financial Closing on 1.5GW Sergipe Power Project - Seite 2

With the Sergipe TPP we have developed a fully flexible and highly efficient natural gas fired plant that will enable Brazil to increase its energy security while continuing to expand its development of renewable energy resources, including solar and wind."

In connection with financial close of the Project, Golar Power has also executed final agreements with CELSE to charter the Golar Nanook, a fully customized new-build 170,000m³ FSRU, for 26 years. The annual EBITDA contribution for Golar Power is currently projected to be approximately US$41 million, with annual escalation indexed to US-CPI, and upside potential for Golar Power through use of the remaining two-thirds of FSRU capacity not utilized by the Project. The terminal is located in a strategic entry point to the NNE of Brazil, within 20km of the main gas distribution network, and has the potential to unlock future LNG distribution opportunities into Brazil.

 FORWARD LOOKING STATEMENTS

This press release contains certain forward-looking statements concerning future events and the operations, performance and financial condition of Golar and its joint ventures. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words "believe", "anticipate", "expect", "estimate", "project", "will be", "will continue", "will likely result", "plan", "intend" or words or phrases of similar meanings. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Golar and its partners. Actual results may differ materially from those expressed or implied by such forward-looking statements.  Important factors that could cause actual results to differ materially include, but are not limited to, those factors listed from time to time in the reports and other documents Golar files with the United States Securities and Exchange Commission. 

New factors emerge from time to time, and it is not possible for Golar to predict all of these factors. Further, Golar cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement. Golar does not intend to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Golar's expectations with respect thereto or any change in events, conditions or circumstances on which any such statement is based.

Hamilton, Bermuda

19 April, 2018

Enquiries:

Golar Management Limited: + 44 207 063 7900

Stuart Buchanan

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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Golar LNG via Globenewswire