Sale of LNGC Golar Arctic Marks Golar's Exit From LNG Shipping Segment

Core Insights - Golar LNG Limited has executed agreements to sell the Golar Arctic, a 2003 built steam turbine LNG carrier, for USD 24 million before transaction-related expenses, marking the company's exit from the LNG shipping segment [1][3] - The sale of the Golar Arctic is part of Golar's strategic transition to focus on FLNG infrastructure, completing a 50-year journey in LNG shipping since the delivery of its first LNG carrier in 1975 [3] Company Developments - The Golar Arctic is the last LNG carrier in Golar's fleet, and the transaction is expected to close in Q1 2025 [1] - Following the sale, Golar will have fully exited its legacy shipping business, allowing the company to concentrate on expanding its market-leading position in FLNG [3] Industry Context - The transition from LNG shipping to FLNG infrastructure reflects broader trends in the maritime LNG sector, where companies are increasingly focusing on innovative infrastructure solutions [3]