Flex LNG Ltd announce that it has entered into a new time charter with Endesa for the vessel Flex Ranger.

Endesa is a leading company in the Spanish electricity sector and the second largest operator in the Portuguese market as well as a subsidiary of Enel Group.

The firm period under the new time charter is 12 months and will commence in direct continuation of an existing time charter with Enel which expires on or about June 2020. Endesa will also have the option to extend the time charter by an additional 12 months subsequent to the firm period maturing on or about June 2021.

Øystein M. Kalleklev, Chief Executive Officer of Flex LNG Management AS, commented:
"We are pleased to announce that Endesa has elected to time charter Flex Ranger in direct continuation of our existing time charter with Enel when this expires in June next year. This charter party adds additional revenue backlog to a first class charter in line with our communicated strategy."

About FLEX LNG LTD

Flex LNG (OSE/NYSE:FLNG) is shipping company focused on the growing market for Liquefied Natural Gas (LNG). Our fleet consists of six LNG carriers on the water and seven newbuildings for delivery in 2020/21. All our vessels are state-of-the-art ships with the latest generation two-stroke propulsion (MEGI and X-DF). These modern ships offers significant improvements in fuel efficiency and thus also carbon footprint compared to the older steam and four-stroke propelled ships. Flex LNG is listed both on the New York Stock Exchange (NYSE) and Oslo Stock Exchange (OSE) under the ticker "FLNG".

About Endesa

Endesa is the leading company in the Spanish electricity sector and the second operator in the Portuguese electricity market: a company that provides services to more than 11 million customers and that directly employs more than 10,000 people.