Fisherman's Landing Gladstone LNG Project Update

Golar LNG Energy Limited ("Golar Energy" "Company") announces the termination of

the various agreements relating to the Gladstone LNG Project as a function of

the recent announcement of a conditional takeover proposal of Arrow Energy by

Royal Dutch Shell and PetroChina. The agreements terminated are Golar Energy's

shipping and marketing agreement HoA with Arrow, the HoA with Toyota Tsusho

Corporation in respect of the LNG supply and the original HoA with LNG Limited

for the offtake of LNG from the Gladstone LNG Project.

Golar Energy remains of the view that the Gladstone LNG Project site at

Fisherman's Landing, the mid-scale nature of the LNG plant and all the work

undertaken to date, renders the Gladstone LNG Project with the potential to be

developed and commercialised, in a much shorter time frame and at a lower cost

per produced tonne of LNG than other, much larger, LNG projects proposed by

others in the Port of Gladstone.

Arrow has placed finalisation of the previously announced purchase of the

Gladstone LNG Project from LNG Limited on hold and has signed an extension in

the HoA term to June 30 2010. The non-exclusive nature of this extension means

that LNG Limited is in a position to attract interest from other parties in the

region with respect to gas supply and the development of the Gladstone LNG

Project as an alternative to Arrow. Under the terms of the June 2006

Collaboration Agreement, between the LNGL and Golar Energy, which remains in

place, the two companies will continue to work closely in relation to

alternative development options for the Gladstone LNG Project in order to try to

achieve a positive outcome for shareholders.

March 16, 2010

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: Chief Financial Officer

[HUG#1394467]

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