Golar LNG has confirmed the sale of its last LNG carrier, the Golar Arctic , marking the end of its time in the LNG transportation business . The deal, worth $24 million, represents the culmination of a transformation process for the company, which had been dedicated to the maritime transport of liquefied natural gas (LNG) for more than 50 years.
The fate of the Golar Arctic LNG tanker
The Golar Arctic , a 140,000 m3 steam turbine vessel, will be delivered to its new owner in the first quarter of 2025. Following this sale, Golar LNG is completely exiting its LNG transportation activity, a strategic step towards its new business focus on FLNG infrastructure. This transition has been key in the company’s evolution towards floating natural gas liquefaction platforms, a booming market.
Golar LNG CEO Karl Fredrik Staubo stressed that the sale of the Golar Arctic is the latest step in a long-term strategy to wean itself off traditional LNG shipping. He recalled that for the past five decades, LNG shipping has been the backbone of the company’s pioneering developments in the offshore gas sector . However, with the sale of its last unit, Golar is strengthening its leading position in the FLNG market.
Golar LNG and the FLNG market
Golar LNG is now preparing to leverage its accumulated industry experience and focus on expanding its leadership in FLNG infrastructure, a sector that promises sustained growth due to the increasing demand for liquefied natural gas in emerging markets.
The sale of the Golar Arctic symbolises Golar’s exit from the LNG shipping business and the consolidation of its new identity as a leader in floating LNG infrastructure.
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Source and photo: Golar LNG
