Golar Power Limited and Petrobras Distribuidora S.A. announce the formation of a Partnership for the development of an LNG distribution businesses in Brazil. The intention is to introduce liquefied natural gas (LNG") as an alternative to the fuels currently available to Brazil's cargo and people transportation, industrial, thermoelectric generation, commercial and residential sectors. Both Golar Power and BR Distribuidora believe that LNG is an innovative and potentially disruptive solution for the transportation sector in Brazil that delivers environmental benefits as well as important economic gains for customers, society and for Brazil as a whole.

Formation of this Partnership coincides with the opening up of Brazil's natural gas sector and a thirst from society for cheaper, cleaner and more efficient alternatives to the fuels currently on offer. Partnering BR Distribuidora's infrastructure and experience in the fuel distribution sector with Golar Power's LNG industry experience is expected to facilitate the rapid development and penetration of small-scale LNG solutions across the country.