Karl Fredrik Staubo, CEO of Golar commented: "We are encouraged by the strong underlying market fundamentals for LNG carriers The Cool Company transaction will allow Golar to separate its shipping businesses and simplify its corporate structure, while maintaining significant and attractive exposure to the LNG carrier business. We are excited to develop Cool Company with Eastern Pacific Shipping. EPS is one of the world's leading shipping companies and a first mover and global trendsetter in ordering LNG fueled tonnage in traditional shipping sectors like container, dry bulk, car carriers and tankers. The Terms Agreement is consistent with the planned business separation of Golar's shipping activities and previously announced strategy to focus activities and growth on our market leading FLNG business. Recent increases in global LNG prices have further increased the attractiveness of potential new liquefaction projects.