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Japanese Consortium signs Long-Term Charter Agreements for Eight New LNG Carriers with Ras Laffan Liquefied Natural Gas Company Limited (3)

November 29, 2005

Doha, Qatar - A consortium comprising Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K. Lines, Ltd. (MOL), Kawasaki Kisen Kaisha, Ltd. ("K" Line), Mitsui & Co., Ltd. (Mitsui), Iino Kaiun Kaisha, Ltd. (Iino) and Qatar Gas Transport Company Ltd. (QGTC) announced the signing on November 28 of 25 year long-term charter agreements for eight new liquefied natural gas (LNG) carriers of approximately 210,000m³ to transport LNG for Ras Laffan Liquefied Natural Gas Company Limited (3) (RasGas 3).

The consortium signed shipbuilding contracts with Daewoo Shipbuilding & Marine Engineering Co., Ltd. and Hyundai Heavy Industries Co., Ltd. for the construction of the five and three new ships respectively. The new ships, which will feature a membrane cargo containment system, are scheduled for delivery from March 2008. The ships will be employed in the exportation of LNG from Ras Laffan, Qatar to the U.S.A. NYK, MOL, and "K" Line will be appointed as the shipmanagers of the ships.

RasGas 3, a company 70% owned by Qatar Petroleum and 30% by ExxonMobil, was established to expand LNG facilities to a production capability of 15.6 million tons of LNG annually, for export mainly to the U.S. market.