Golar LNG Ltd. Has through market purchases acquired 9.9 % of the shares in the Korean shipping company Korea Line. Korea Line is listed on the Seoul Stock Exchange and has a market capitalisation of around USD 130 million. Korea Line owns directly 100 % of two modern LNG Carriers on long term charter to KOGAS. The Company has also smaller ownership in 4 other large LNG carriers also on long term charter to KOGAS.
Golar sees the investment in Korea Line as an interesting opportunity to develop a positive relationship to mutual benefit to one of the leading Asian LNG Shipping providers.
Hamilton, Bermuda
30 December 2003