Mr Smith, (50), has an extensive background in the petroleum industry. Most recently Mr Smith worked for STASCO (Shell Trading & Shipping Co) in London in the position of General Manager Commercial Shipping. In this position he worked closely with all existing Shell LNG projects and LNG trading activities and supported the development of several new LNG projects. Mr Smith also served as President and Director of SIGGTO (Society of International Gas Tanker & Terminal Operators) during the period from 2002 to 2005. The Board believes that the experience Mr Smith brings to the Company is extremely valuable particularly in view of Golar's ambitions to expand further into the LNG logistical chain.
Mr Smith will effectively replace Mr Trøim as CEO of Golar by 1st April 2006. Mr Trøim will continue as a director of Golar LNG.