Golar LNG Ltd. announced today that it has signed an extension to the charter agreement for one of its existing Liquefied Natural Gas carriers, the "Golar Freeze", with BG Group plc.
The present agreement for the Golar Freeze was due to expire in March 2003, and the new agreement will extend the term with 5 years, until March 2008.
This means that after March 2003, BG Group will charter 5 LNG carriers from Golar; the Golar Freeze, the Khannur, the Hilli and the Gimi, all of 125000 cm size, as well as Golar's first new building, a 138000 cm membrane ship which will be delivered from Daewoo in March 2003.
According to Executive Vice-President of Golar, Mr. Sveinung J. Støhle, "we are very pleased with this agreement, since it assures long-term employment for all of our prompt capacity, and further underlines the good relationship between Golar and BG, our largest customer".
Betsy Spomer, Head of Global LNG, BG Group plc said, "This extended charter of the Golar Freeze further consolidates BG's growing LNG position. BG is developing a number of major LNG import and export projects around the world and our shipping capacity plays an important role in underpinning these projects".