Highlights

·     Golar LNG Energy reports a net loss of $7.3 million and operating income
before depreciation and amortisation of $2.6 million
·     Weak spot LNG shipping market during Q2 but recent tightening
·     Golar Commodities progressing well  toward becoming fully operational and
in August executed their first trade
·     Golar LNG Energy short listed for West Java FSRU bid
·     Golar Freeze FSRU transferred back to Golar LNG Limited


Financial Review

Golar LNG Energy Limited ("Golar Energy" or the "Company") reports a net loss of
$7.3  million and  operating income  before depreciation,  amortisation and gain
arising  on asset transfer of  $2.6 million for the  three months ended 30 June,
2010 (the "second quarter").

Revenues  in the second quarter at $14.5 million were in line with $14.5 million
for  the first quarter of 2010 (the "first quarter"). Revenue has benefited from
a  contribution from the Golar  Freeze charter for part  of the quarter prior to
its transfer back to Golar LNG Limited ("Golar LNG"). This is offset by a weaker
performance  from  vessels  operating  in  the  spot market. As a result overall
utilisation for the second quarter was down at 42% compared to 50% for the first
quarter  and second quarter average daily time charter equivalents ("TCEs") were
down  at $12,615  (excluding the  contribution from  Golar Freeze) compared to a
first quarter TCE of $16,795.

Voyage  expenses and operating expenses  were lower than the  first quarter by a
combined $2.4 million whilst admin expenses were higher by $1.7 million.

Net  interest expense for  the second quarter  at $3.9 million  was up from $3.7
million in the first quarter due to a small increase in LIBOR.

The net gain on sale of investee of $0.7 million represents the sale of 2.8
million LNG Limited shares for a total consideration of $1.4 million.
The  net gain on asset transfer  of $3.5m relates to a  gain arising on the part
extinguishment  of the sellers credit in respect of the transfer of Golar Freeze
back  to Golar  LNG, which  results from  depreciation charged in Golar Energy's
income  statement from the date of acquisition in August 2009 until the transfer
back to Golar LNG in June 2010.
Whilst  the economic ownership of the Golar  Freeze has transferred to Golar LNG
via  agreements between the companies there remains a lease from the lessor bank
to  Golar Energy  and a  corresponding agreement  between Golar Energy and Golar
LNG.  Therefore Golar Energy retains a lease obligation, capital lease asset and
cash  deposit in respect of the Golar Freeze together with the remaining part of
the original sellers credit.
The  Company reports revenues of  $29.0 million and a  net loss of $18.2 million
for the six months ended June 30, 2010.
Financing, corporate and other matters

During  the  quarter  Golar  Energy  announced  that  it  was establishing a new
subsidiary,  Golar Commodities, which would position  Golar Energy in the market
for  managing  and  trading  LNG  cargoes.  Activities  will  include structured
services  to  outside  customers  (such  as risk management services), arbitrage
activities  as well as proprietary trading. Since the announcement, the team has
made  good  progress  setting  up  operations  for  the new subsidiary. The team
currently numbers nine, based in Tulsa Oklahoma, London and Bermuda, and offices
and  systems are well under way to being fully operational. Golar Commodities is
in  detailed  discussions  with  financial  institutions  with  regards  to  the
provision of credit lines. Golar Commodities has also just recently entered into
their  first cargo  transaction and  expect to  increase activity from September
onwards

The  joint venture company Golar Wilhelmsen Management A.S. ("GWM"), established
with  Wilhelmsen Ship Management (Norway) A.S.  was incorporated in May 2010. It
is the intention that all Golar LNG and Golar Energy carriers and FSRU's will be
managed  by GWM and the process of  transfer of management has progressed to the
stage where actual handover of management for the first vessel took place in mid
August. The management handover for the whole fleet is scheduled to be completed
in September. Also during the quarter the ownership of Golar Management Ltd, the
Company's  in house manager and GWM  joint venture partner, transferred to Golar
Energy. By bringing the fleet together under one manager, Golar Energy will have
better control over and more day-to-day involvement with the technical operation
of, in particular, the Company's FSRU's.

The  Company announced  during the  quarter its  intention to  buy back  up to a
maximum of 5,000,000 of its own shares. To date the Company has acquired a total
483,627 of its own shares.

Operational Review

Shipping

The  LNG shipping  market during  the second  quarter by  and large followed the
format  of the first quarter with too  many idle vessels chasing too few cargoes
for  short  voyages  at  depressed  rates.   However, by the quarter end, vessel
availability  in  all  markets  was  tightening  amid  new supplies and emerging
smaller buyers that in aggregate, helped to absorb excess production.

Retaining  some LNG  onboard after  discharge (heel),  at relatively low cost in
comparison  with  fuel  oil  prices,  became  important  as vessels repositioned
speculatively  to active supply locations in order to remain cold (i.e. ready to
accept  LNG)  and  seek  charter  opportunities  and  to  mitigate  against high
positioning costs.

Looking  forward, indications for the third and fourth quarters of 2010 are that
the  current LNG over supply will continue with more cargoes entering the market
faster  than can  be absorbed  in the  short to  medium term.  This is likely to
result  in a larger spot  market with newer entrants  becoming more active. With
more  market liquidity there  is an increased  possibility of traders taking new
logistical  positions  such  as  short  and  medium  term  charters  as  well as
regasification capacity.

Market  sentiment for ship utilisation is  firming with recent cargoes unable to
find  tonnage to market and charterers  becoming more likely to exercise options
to  extend the capacity  they currently hold.   Consequently rates are likely to
move  up although lower than expected gas prices in some markets may place a cap
on  what could otherwise  be large rate  hikes relative to  recent levels.  Spot
requirements  continue to  surface both  East and  West of  Suez and  this looks
likely to continue to the year end.

Currently  all  Golar  spot  market  vessels  are  employed  with  the  earliest
redeliveries likely to be towards the end of the third quarter.

The current global fleet stands at 358, (including regas and lay-up vessels) and
there are 28 vessels on order.

Regasification

A  steady stream of new enquiry for floating storage and regasification projects
continues.   Every  quarter  sees  Golar's  development team contacted about new
projects.   Numerous projects  are also  starting to  appear more  concrete with
project  developers achieving  new milestones.  Some of  the more notable recent
developments include:

   ·      Indonesia (West Java):  Golar is one of three parties remaining in the
tender  process. The  final evaluation  of commercial  bids is  underway with an
expectation of a final award decision in the near future.
   ·      Indonesia (Sumatra): The project reportedly reached a positive project
milestone  with  the  appointment  of  Foster  Wheeler  as  the  Project Manager
("PMC").  The project appears on track for a Q4 2010 tender.
  * Uruguay:  Foster Wheeler Iberia has progressed significantly on their study
    to define the tender scope.  There are indications this tender may be
    launched in Q4 2010.


In  addition  to  projects  more  widely  reported in the market, numerous other
opportunities  are being worked by the Golar Energy team.  In this regard, Golar
Energy remains very optimistic that the market for FSRUs will only grow and that
the Company is well positioned to take advantage of that growth.

Market

Earlier in the second quarter supply side underperformance was still the biggest
factor in limiting LNG to European markets. Production shortfalls in a number of
locations and start-up problems in others, removed approximately 15.5 mt/yr from
the  supply chain. Nigerian and  Norwegian supplies have subsequently recovered,
although  a shortage of feedstock gas continues to limit output from Damietta in
Egypt.

Sharply  rising supply volumes of LNG worldwide  and the surge in North American
gas production combined with a global recession significantly reducing worldwide
gas  demand, has created a global oversupply  of gas.  By early May U.S. markets
were  "swimming"  in  gas  even  with  U.S.  industrial  demand showing signs of
recovery.  Non U.S. markets showed a  high capacity to absorb additional volumes
as  summer  peaking  markets  became  a  growing  force for market balance and a
counter  to the  lack of  cargoes entering  the U.S.  due to  price disadvantage
against other markets.  Mexico's Costa Azul, Kuwait, Brazil, Chile and Argentina
all received cargoes.

European  market pricing has been  volatile, driven by a  cool spring as well as
field   and   infrastructure  maintenance.   Even  in  summer,  when  demand  is
approximately  50% of  winter  peak,  European  markets have traded through wide
ranges  and have been the  preferred location after Asian  demand is met. The UK
saw  unusually high gas demand over summer  with much of this increase being met
through LNG imports.

Asian  Markets were also 'heating-up' towards the  end of the quarter and buyers
continue  to seek cargoes for October and November deliveries although signs are
that  Japanese buyers may be  holding off in expectation  that a falling NBP may
reduce  Asian prices.  Other major buyers were CPC and CNOOC.  Kogas and CPC are
both  reportedly looking for a number of winter cargoes.  Imports across Asia in
the  first 6 months of the  year were running 16% up  on the 1(st) six months of
2009.

Outlook

The  over-supply of LNG has been  maintained during the quarter and may increase
further  with additional LNG trains  coming on stream later  this year and early
next.  However, as the  world recovers from  recession gas demand will increase.
Additionally  there  are  potential  major  cost  savings  available  for  power
companies  by switching fuels  from oil to  gas and with the added environmental
benefits  and significant gas reserves worldwide increasing gas demand is likely
to continue. This leads to increased transportation demand and the need for cost
effective solutions for importing natural gas.

The  winter market is approaching and we have  over the last month seen that the
market has strengthened. Given steadily increasing LNG supply and demand and the
fact  that by the end of the year the  LNG carrier order book will stand at only
approximately  3% of the  total fleet,  the Board believes  that we  will see an
improved  shipping market over next 12-18 months as compared to the previous 12
months.

In order to cope with the increase in consumption and proliferation of LNG there
will  need to be further  development of the logistics  to deliver it to markets
and  Golar Energy is therefore  highly focused on continuing  to develop new LNG
midstream  solutions for  its  customers.  The  Company's  Moss type tankers are
particularly  well suited for these projects both  from a quality and cost point
of view.

New  floating regasification opportunities are coming to the surface every month
and  although it takes time to develop such  projects, some of them will in time
come  to fruition. Based on  feedback from some of  the projects Golar Energy is
involved  in the Company believes it  is extremely competitive in the market and
the Board believes that Golar Energy is well positioned to secure new contracts.

The Golar Commodities trading team is in place and as noted above has transacted
their first cargo trade. The Company believes that the timing for setting up the
entity  is optimal in terms the development of LNG trading. There are also clear
synergies  between the trading division and the shipping and project development
side of the business which Golar expects to take advantage of.
LNG shipping rates have recovered from very low levels in the second quarter to
in the region of $30,000 to $40,000 per day currently and this will positively
impact earnings in the third quarter. With cash of $98.5 million as at June
30, 2010, current market rates approaching break even levels and strong support
from the major shareholder the Board feels the Company has good flexibility to
grow and complete existing projects without relying on raising additional
equity.

The Board is disappointed with the development in the Company's share price
since the IPO last August. However, the recent rate improvements in the
short-term market, the good progress in the FSRU business and the commencement
of Golar Commodities operations should have a positive effect on earnings. The
Board is hopeful that this increase in earnings will increase interest in the
Company's shares.

Operating results for the third quarter are expected to show clear improvement
from the second quarter.


Forward Looking Statements

This  press release  contains forward  looking statements.  These statements are
based  upon various assumptions, many of which  are based, in turn, upon further
assumptions,  including examination of  historical operating trends  made by the
management  of Golar LNG  Energy. Although Golar  LNG Energy believes that these
assumptions  were  reasonable  when  made,  because  assumptions  are inherently
subject  to significant uncertainties and  contingencies, which are difficult or
impossible  to predict and are beyond its  control, Golar LNG Energy cannot give
assurance  that it  will achieve  or accomplish  these expectations,  beliefs or
intentions.
Included  among  the  factors  that,  in  the Company's view, could cause actual
results  to differ materially  from the forward  looking statements contained in
this  press  release  are  the  following:  inability  of  the Company to obtain
financing for the new building vessels at all or on favourable terms; changes in
demand;  a material  decline or  prolonged weakness  in rates  for LNG carriers;
political  events affecting production in areas in which natural gas is produced
and  demand for natural  gas in areas  to which our  vessels deliver; changes in
demand  for  natural  gas  generally  or  in  particular regions; changes in the
financial   stability  of  our  major  customers;  adoption  of  new  rules  and
regulations  applicable to LNG carriers and  FSRU's; actions taken by regulatory
authorities  that may prohibit the  access of LNG carriers  or FSRU's to various
ports; our inability to achieve successful utilisation of our expanded fleet and
inability  to expand beyond  the carriage of  LNG; increases in costs including:
crew  wages, insurance, provisions, repairs  and maintenance; changes in general
domestic  and  international  political  conditions;  the current turmoil in the
global  financial  markets  and  deterioration  thereof;  changes  in applicable
maintenance   or   regulatory   standards  that  could  affect  our  anticipated
dry-docking  or maintenance and repair costs; our ability to timely complete our
FSRU  conversions; failure of  shipyards to comply  with delivery schedules on a
timely  basis  and  other  factors  listed  from  time  to  time  in  subsequent
announcements  and  reports.  Nothing  contained  in  this  press  release shall
constitute an offer of any securities for sale.

August 26, 2010
The Board of Directors
Golar LNG Energy Limited
Hamilton, Bermuda
Questions should be directed to:

Golar Energy Management Ltd
Oscar Spieler: CEO - +65 6296 5518
Golar Management Ltd - +44 207 063 7900:
Graham Robjohns: CFO
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


[HUG#1440922]





GOLAR LNG ENERGY Q2 2010 INTERIM RESULTS: 
http://hugin.info/142200/R/1440922/385271.pdf




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