Golar LNG Says Tightening Market to Reach Crescendo in 2012

Golar LNG Ltd. (GOL) expects the tightening market for shipping liquefied natural gas will reach a crescendo next year, Chief Executive Officer Doug Arnell said at a conference in Oslo.

"One-year rates next year could easily be over $120,000 per day," he said today in a subsequent interview. "The peak in the market is coming 2012 and 2013. As new-build order book vessels start being delivered it’ll probably come off a little bit after that but remain strong for the next 5-6 years."

To contact the reporter on this story: Stephen Treloar in Oslo at streloar1@bloomberg.net

To contact the editor responsible for this story: Jonas Bergman at jbergman@bloomberg.net

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