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CAPITAL LEASES (Tables)

12 Months Ended

Dec. 31, 2011

Leases, Capital [Abstract]

Long-term obligations under capital leases

(in thousands of $)	2011			2010
Total long-term obligations under capital leases	405,843			411,875
Less: current portion of obligations under capital leases	(5,909	)		(5,766	)
Long term obligations under capital leases	399,934			406,109

Future minimum rental payments under capital leases

As at December 31, 2011, the Company is committed to make quarterly minimum rental payments under capital leases, as follows:

Year ending December 31, (in thousands of $)	Methane Princess Lease			Golar Winter Lease			Grand Lease			Total
2012	6,985			10,002			9,161			26,148
2013	7,273			10,002			9,112			26,387
2014	7,551			10,002			9,057			26,610
2015	7,844			10,002			9,044			26,890
2016	8,142			10,002			9,044			27,188
2017 and thereafter	244,180			155,032			188,524			587,736
Total minimum lease payments	281,975			205,042			233,942			720,959
Less: Imputed interest	(133,265	)		(85,672	)		(96,179	)		(315,116	)
Present value of minimum lease payments	148,710			119,370			137,763			405,843

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- Definition

Schedule of Long-term Obligations Under Capital Leases [Table Text Block]

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- Definition

Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Topic 840

-SubTopic 30

-Publisher FASB

-Number

-Article

-Subparagraph (b)

-Name Accounting Standards Codification

-Paragraph 1

-Section 50

-URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737

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