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December 2, 2005

Exmar and partners short listed for Petronet LNG charter

Exmar and its Indian consortium partners, Varun Shipping Company Limited and Indian Oil Corporation Limited, have been short listed by Petronet LNG Ltd for award of a 25 year time charter agreement for one additional LNG ship for import of LNG, to meet the requirement of expansion of the Dahej Terminal (India).

The LNG tanker with a capacity of 156,100 cu.m and a dual fuel diesel electric propulsion system, will be built at Daewoo for delivery in the last quarter of 2009.

The consortium partners will establish a new joint venture company in India to own and operate the tanker.

Exmar says the transaction is an important step towards its medium term ambition to provide integrated logistical services to expanding gas markets such as India. In furtherance of these efforts, Exmar recently signed an MOU with GAIL Ltd. (India) for the use of its onboard regassification technology for LNG imports to India.

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