Exmar will wholly own and oper-ate the Floating LiquefactionStorage and Regasification unit(FLSRU) stationed off the coast ofColombia in the Caribbean. It willexport Colombian natural gas forCanadian major Pacific Rubiales,which has an ownership option.

Exmar will also provide shippingservices for Pacific Rubiales and itsofftaker, Russian major Gazprom.Gazprom Marketing & Trading re-cently concluded a HOA for a fiveyear SPA with the producer for 0.5million tons per year of LNG.

Pacifica Rubiales plans onkeeping half of the product for do-mestic use in Colombia, and mayship some in the region, accordingto the shipyard building the ves-sel, Wison Offshore & Marine.

The Caribbean FLSRU representsa considerable development forthe industry with respect to theflexibility of LNG exports.

Chief Financial Officer atExmar Miguel DePotter explains,“First of all the technology wasnot really available and then con-tractually no one was really look-ing for this type of vessel untilrecently, because the gas marketswere probably less stable thanthey are today.”

“It’s cheaper, faster and easierto build something in a shipyardthan to build something on landbecause you’ve got 100 weldersand engineers that are used tobuild. You don’t have to buildmountains and roads and thingslike that on location.”

This also changes the game in terms of obtaining contractsfor construction from local authorities. “Indeed, it is easierwhen you do things when you are far away from the shore than

when your are near the shore.”

FLSRU constructionExmar’s barge-based liquefactionunit is currently on target to be me-chanically completed in April 2014,and begin commercial operations inthe by the second quarter of 2015.

It is designed to use gas sent bypipeline from Pacific Rubiales’ LaCreciente field, cleaned by theproducer at the production site,and sent through an 88km pipelineto the barge where it is liquefiedon the vessel.

The unit incorporates both liq-uefaction and regas capacity withstorage for both liquiefied and regasified gas. The liquefactioncapacity will initially be 0.5 MTPA.

LNG will be stored in on-boardtanks with a total capacity of16,100 cubic metres before beingoffloaded either to tanker or to a permanently-moored floatingstorage unit.

“Actually it is going to be con-figured the same as an FSRU withthe ships alongside each other,connected with flexible hoses tooffload the LNG from the terminalinto the vessel,” said DePotter.

“There isn’t an offtaker for themoment for the regas. The idea isin order to get the import licensewe need to have the regasification

capacity, but there is not an off-taker, and as such, it might not really be used.”

Engineering firm Black &Veatch is providing the liquefac-tion and regasification equipmentwhile German TGE Marine is pro-viding the containment system.

Several FLNGs hit market after 2015A slew of other liquefaction projects,are in various stages of development.

UK shipping company, GolarLNG’s FEED with Singaporean engi-neering company Keppel Offshoreand Marine has just been com-pleted for a FLNG vessel with 2-4trains that have 0.5 to 0.7 MMTPAliquefaction capacity each.

The concept is initially basedon a conversion of a 125,000cbmmoss LNG carrier, but it is alsoconsidering barge-based concepts.

Malaysian major Petronas’s 1.2MTPA FLNG in Malaysia is sched-uled for deployment in 2015, andmajor Shell’s 3.6 MTPA PreludeFLNG off northwest Australia,scheduled to come online by 2017.

Natural gas producers can saveon build costs by replacingpipelines to onshore liquefactionterminals with FLNG, and can alsouse them within the burgeoningfield of deepwater drilling. �

A LNG JOURNAL TITLE ON LNG TANKERS 21 November 2013

LNG Shipping NewsExmar to be first shipping company upstream

SHIPPINGNEWS

AGENDA

Russian players signMOU on Zvezda,Russian-Korean arcticLNG shipyard

3

SHIPYARDS

FINANCE

Dynagas shares littlechanged after IPO

4

Höegh LNG’s GasNatural charter extended

2

BUSINESS

Belgian LNG shipping company Exmar, which a decade ago launched the first Floating Storage and Regasification Unit (FSRU) for LNG imports is on track to become the first to launch an LNG export vessel, it said.

TECHNOLOGY

Trelleborg puts spotlight on FSRUmooring challenges

5

FLSRU illustration Source: Exmar

LNG vessels ordered

6

LNG ORDERBOOK

Höegh LNG will take redelivery of the vessel at the end of 2014,after which Gas Natural will havean option to extend the charterperiod for up to an additional

12 months.LNG Libra has been on charter

to Gas Natural since last April foroperation between Trinidad andthe import terminal at Escobar, Ar-

gentina until mid-November 2013. LNG Libra is currently Höegh

LNG’s only vessel on charter toGas Natural, but follows on acharter of Norman Lady, now re-tired. “We previously also deliv-ered Norman Lady, but thatcontract ended a few monthsago,” said Jæger.

The EBITDA contribution toHöegh LNG for the extended pe-riod is around $8.7 million. If theoption for further extension is ex-ercised, this will contributearound $6.6 million to the EBITDA.

GNL Escobar import terminal,floats on Paraná River, 30 milesoutside Buenos Aires, an FSRU de-signed by Americna Excelerate En-ergy and owned by Argentine

energy company YPF and Enarsa,Gas Natural is a supplier, along

with BG to YPF and last month YPFsaid it will continue to use thesupplier although an Argentinefederal judge had ruled against it,Reuters reported.

Höegh LNG’s president andCEO, Sveinung J.S. Støhle said,"Weare very pleased that Gas Naturalhas extended the charter for LNGLibra and has indicated interest tocharter the vessel until end 2015.We are looking forward to con-tinue our good relationship withGas Natural in the coming years,and this extension underlines thegood relations with Gas Natural as well as Höegh LNG's excellentperformance record." �

Höegh LNG’s Gas Natural charter extended

� NEWS LNG Unlimited 21 November 20132

Spanish gas supplier Gas Natural last week exercised its option to extend its charter of 126,400cbm LNG Librafor about 13 months. Arild Jæger, vice president, strategy and investor relations, said the trade route is not confirmed: “They can continue on the same route as we haven’t got any restrictions. It’s up to the charterer todecide so they can sail where they need to.“

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Norway’s Knutsen OAS has beenselected to manage two of fournewbuildings expected to be or-dered for Stream LNG, the jointventure company of Spanish majorGas Natural Fenosa and Repsol.The other two will be managed bySpanish shipping company Elcano.

Knutsen OAS Shipping has offi-cially signed two time charter par-ties with Gas NaturalAprovisionamient SDG, for a char-ter period of 20 years, after whichthe charterer will have options toextend the charter for two periodsof five years successively.

Knutsen OAS signed the deal onbehalf of its two new Ship OwningCompanies, Norspan LNG IX AS andNorspan LNG X AS.

The two identical sister shipswill have a capacity of 176,300cbmeach, and be designed to sailthrough the newly expandedPanama channel, opening in 2015.

“As you may know, all our LNGvessels comes with Norspan LNGand then a sequential number.Accordingly these will be vesselnos. 9 and 10,” said JohannesBrynjulvsen, general manager,newbuilding and projects, for

Knutsen OAS.The vessels, HHI hull numbers

22733 and 22734, will be built bythe shipyard for delivery in the

third and fourth quarter of 2016. A shipbuilding contract is

expected to be signed by the endof the week. �

Knutsen OAS management of Stream LNG vessels confirmedThe ships’ owners beat out proposals from “a dozen owners’” according to the Mexican newspaper, El Economista.The ships have potential to transport from Cheniere’s Sabine Pass LNG terminal.

Back in service: 126,400cbm LNG Libra

173,400cbm Valencia Knutsen is a spanish flag ship.

Nikolai Grigoriev, managing direc-tor, shipping & logistics, GazpromMarketing & Trading, said Lenariver is technically capable ofmeeting all the regulatory require-ments for safe transit of the route.

“Any vessel that travelsthrough the NSR has to complywith Northern Sea Route Adminis-tration rules, including communi-cation, emergency response plansand equipment, pilotage, crewtraining and experience. Shouldwe deploy the Lena River on avoyage through the NSR, we will,of course, meet all the require-ments of the NSR Administration.”

Open navigation is the likelytime of transit for the vessel.

“Lena River’s specifications allowher to be deployed on voyagesthrough the NSR during open navi-gation,” he explained, adding,

“The historic voyage of the ObRiver in October-November lastyear has proven the technical fea-sibility of this route. However, anydecision to do so for future car-goes on the Lena River will be determined by safety and com-mercial considerations.”

While proposed LNG carrierdesigns by Bureau Veritas includeice breaking capabilities on theLNG carriers, Gazprom’s new LNGcarrier in common with other arc-tic LNG carriers is not adapted forthis purpose.

“The Lena River does not haveice breaking capability and we arenot aware of any LNGC that doesat the current time. “ �

The technology partner, KoreanShipyard DSME will use its LNGshipbuilding knowledge to help es-tablish a high-tech arctic shipbuild-ing and industrial location by 2016.

The latest MOU combines Russian gas major Rosneft, withRussia's largest shipping company,Sovcomflot, and the financial arm of LNG fleet owning majorGazprom, Gazprombank.

Plans for upgrading the existingZvezda shipyard have been in theworks since at least 2007, whenJSC United Shipbuilding Corpora-tion (USC) was established by pres-idential decree with the intentionof potentially building LNG carriersin Russia for the first time.

Zvezda-DSME, a joint venturecompany of DSME and USC, won itsfirst shipbuilding contract for 12 oilcarriers for Sovcomflot in 2010.

This MOU comes on the back ofan announcement in June fromGazprom Marketing & Trading that ithoped to team up and help to revivethe Russian shipbuilding industry.

Gazprom Marketing and Tradingsigned the June strategic partner-ship with USC, involving RussianMaritime Register of Shipping (RS),Sovcomflot (SCF), to build 13 shipsat Zvezda.

Russian gas major Rosneft said itwill use the new arctic shipyard torealise its programme to developoffshore projects in Russian waterson the Northern and Far East seas.

Pipeline talks continueThe MOU was signed last weekduring a visit of Russian President

Vladimir Putin to Korean presidentPark Geun-hye in South Korea’scapital.

In the meanwhile, there werediscusssions for building a gaspipeline from gas-rich Russia toSouth Korea, which has orderedspot cargoes in recent months,Reuters reported.

South Korea is a major gasmarket, and State-run Korea Gas Corp, has signed a deal toimport 1.5 million tonnes of LNGa year originating in Sakhalin Island, Russia.�

21 November LNG Unlimited NEWS � 3Russian players sign MOU on Zvezda,Russian-Korean arctic LNG shipyard

NEWSNUDGE Golar LNG’s Golar Celsius deliveredGolar Celsius, a 160,000 cbmnewbuilding, was delivered byKorean Shipyard Samsung formanager Wilhelmsen Golar, broker data shows.

Greek shipownerThenamaris plays it cool Thenamaris is believed to beclosing a deal on shipping forChevron, possibly as tonnagefor the major’s Gorgon LNGproject in Australia as well as the Canadian Angola LNGproject, said TradeWinds. InAugust Chevron chartered thecompany’s 160,000-cbm newbuilding Cool Voyager.

BG Group orderingtwo new vesselsTwo 174,000cbm LNG unitshave been ordered by BGGroup at Hudong ZhonghuaShipyard in China for an undis-closed price, with an optionfor two more and delivery in2017, according to data frombroker Golden Destiny.

SCF product tankertransits NSR inreverseLast month SCF Group’s prod-uct tanker Viktor Bakaev tran-sited the NSR in an east-westdirection from Yeosu, SouthKorea, as the last transit ofthe NSR during the naviga-tional season of 2013. Since2010 seven SCF Group vesselshave transited NSR.

Viktor Bakaev Source: Sovcomflot

Russian fleet owners and Korean shipyard DSME signed an MOU for an arctic LNGcarrier shipbuilding cluster in Primorskiy Krai, southeast Russia, shipbuilding complex Zvezda.

155,000cbm Lena River features atri-fuel diesel-electric propulsionsystem.

DSME’s technology includes an arctic drill ship (pictured).

Lena River is ready for the North Sea Route (NSR)Gazprom Marketing & Trading has expanded its fleet from mid-2013, taking deliveryof four highly sophisticated and efficient LNG Carriers, including arctic carrier LenaRiver last month.

GasLog posted earnings beforemajor deductions of $27.9 millionand profits of $9.2M for the thirdquarter.

On contracted charter rev-enues, GasLog said it planned toincrease the total from $56.28Mfor fiscal year 2012 to $280M forfiscal year 2017, based on con-tracts in effect as of September30, 2013, for the 12 ships inGasLog's owned fleet for whichtime charters have been secured.

These include contracts for sixnewbuildings that are scheduledto be delivered on various dates in2013, 2014 and 2016, but does notinclude extensions options.

"I am also pleased to reportthat as a result of our growingbusiness and strengthening cashflows, we are able to reward ourshareholders by raising the quar-terly dividend to $0.12.

"We continued to execute onour business plan with the delivery

of the 'GasLog Skagen' ahead ofschedule and on budget as well asthe continued 100 percent utiliza-tion of our on-the-water fleet,"said Wogan.

"As previously reported we con-tracted two new buildings, duringthe quarter, at Samsung Heavy In-dustries for delivery in 2016 withassociated seven-year charters toBG and secured options for theconstruction of up to six addi-tional new buildings.

"Our strong relationship withSamsung enabled us to extend thesix options into the first quarter of 2014.

"In addition, the strength ofour underlying business allied withour close banking relationships allowed us to move quickly to secure the purchase of the 'GasLogChelsea' at what we believe was avery competitive price.

"Our highly efficient and effec-tive operating platform enabled usto take possession of the ship andquickly place it on its first short-term charter.

"We continue to be excitedabout further potential consolida-tion and fleet growth opportuni-ties and feel we are well placed totake advantage of these opportu-nities due to our operational plat-form allied with the ongoingdevelopment of our capital struc-ture," Wogan added. �

� NEWS LNG Unlimited 21 November 20134

About seven million shares weretraded on the first day in a rangebetween $16.75 and $18.10 on theNasdaq Global Select Marketunder the ticker "DLNG".

Dynagas is headed by Greekshipowner George Prokopiou whois listed as company Chairman.The company has Tony Lauritzenas Chief Executive and MichaelGregos as Chief Financial Officer.

The US listing by the ProkopiouLNG carrier company is followingin the steps of another Greek LNGcarrier fleet owner, Peter G. Livanos whose Monaco-basedGasLog LNG fleet sold shares to investors in a US IPO in April 2012and is now listed on the New YorkStock Exchange.

Dynagas took delivery in Julythis year of two new ice-classmembrane LNG carriers from theHyundai Heavy Industry shipyardin Ulsan in South Korea as it buildsup its fleet.

The two 155,000 cubic metresvessels were named the "YeniseiRiver" and the "Arctic Aurora" andare fitted with GTT Mk III contain-ment tanks.

Dynagas Partners was formedon May 30, 2013 by Dynagas Hold-ing to own, operate and acquireLNG carriers initially employed onmulti-year charters.

The initial fleet of DynagasPartners will consist of three LNG carriers, each of which has a carrying capacity of around

155,000 cubic metres.Dynagas intends to use the net

proceeds from the IPO and a new$262M senior secured credit facility

to repay all of its existing secureddebts and for general partnershippurposes, including working capitaland vessel acquisitions. �

Dynagas shares little changed after IPOShares of Dynagas LNG Partners were little changed after their first day's trading on the Nasdaq exchange afteran initial public offering by the Greek-owned LNG carrier fleet operator that raised $225 million from the sale of12.5M shares priced at $18 each.

155,000cbm Gaslog Singapore

GasLog CEO explains strong results forMonaco-based LNG carrier operator GasLog Chief Executive Paul Wogan reported another strong quarter for the Monaco-based and New York-listedLNG carrier fleet operator - with BG Group of the UK being its main client.

155,000 cbm Arctic Aurora

21 November 2013 LNG Unlimited NEWS � 5Trelleborg puts spotlight onFSRU mooring challenges

At the moment, in some applica-tions, jetty and FSRU operatorsare both capable of releasing themooring lines attached to an FSRUwhen it is moored between a jettyand an LNGC in ship-to-ship of-floading configuration.

“The challenge is that youneed to control those mooringhooks from the jetty, but youwouldn’t want to release the FRSUin the middle inadvertently withthe LNGC still moored,” saidTraylen.

“You have to control the re-lease in a certain sequence in co-operation with the LNGC”.

“You may want to release theLNGC bow mooring first, assistedby a tugboat, then you might wantto release those lines from themidships of the FSRU, and finallyrelease the stern lines.”

“The thrust of that webinar is really raising awareness aboutthese compound mooring situa-tions,” emphasied Traylen,adding, “Mooring tension and remote release systems shouldbe considered with a holistic approach so that there is one

set of information available to allthe entities.“

Optimal emergency re-lease means cooperationat build stageThe lack of mooring integrationcomes from having different sup-pliers that are not coordinating it,said Traylen.

“The EPC is given the job ofbuilding the jetty and the shipyardis given the job of building theFSRU and LNG carrier mooring. Theproblem is that the emergency re-lease systems of both need to befunctioning in tandem.”

“In the case of FSRU termi-nals,the owner operator for theregasification facility needs to beaware of the complexities whendealing with compound moorings.”

“The choice of where to putthe integrated emergency con-trols will depend on the engineer-ing of that individual terminal”,Traylen said.

“If your FSRU is where the operators are based because on of an unmanned jetty, that’swhere most of the release opera-

tions are managed”.“There are situations where

they need to manage the opera-tions either from the jetty side orFSRU side, and in Trelleborg’s op-timal configuration, you can man-age from either the FSRU or theJetty,” said Traylen.

Controls and mooringequipment, integratedTrelleborg have for many years offered emergency release acti-vated, mooring equipment in itsSmartHook range targeting jettyoperators.

Trelleborg last year introducedtwo new segments targeting theFSRU/LNGC market with the ac-quisition of SeaTechnik, a providerof ship-to-shore safety controlsand hardware.

The Seatechnik SSL Link is nowinstalled on more than 90 percentof the active LNGC fleet, as wellas 100 percent of FSRU and regasterminals, said Trelleborg.

“The SSL link is used to com-municate data as well as commu-nicate data signals but it’s also anelement in transmitting the datain these entities between theFSRU and jetty and FSRU andLNGC,” said Traylen. �

With the growing use of floating LNG terminals, the industry needs to decide who

controls the emergency mooring release systems between terminal and jetty,

Trelleborg explained in its new webinar. “It’s critical that they control release from

one system to prevent releasing the FSRU before the LNGC,” said Alistair Traylen,

chief systems architect at Trelleborg Marine Systems.

Bow and stern mooring lines bypassing the FSRU in the middle and connecting to the jetty

MHI to offerfuel savingsoftwareJapanese Mitsubishi Heavy Industries and Japanese ITmultinational NEC Corpora-tion have announced a part-nership to develop a DemandForecast System for Ships tosave fuel for ships for launchin March 2015.

Energy Demand ForecastSystem for Ships will projectfuture fuel demand to decrease operational costsfor ships, and potential emis-sions reduction.

NEC's proprietary forecast-ing technology will be used toautomatically detect patternshidden in “big data” of shipfuel consumption. Calcula-tions will be based on previ-ously collected data relatingto ships' energy consumption,weather patterns, ambientair temperature, and time of day.

Operators will be able touse it to control of the oper-ating ratios of a ship's engineand power generators, aswell as the number of unitsto be in operation, based onhighly precise energy demandforecasts.

MHI plans to propose theEnergy Demand Forecast System for Ships, along withits independently developedMitsubishi Air Lubrication System (MALS) for application in new shipconstruction and in existingvessels upgrades.

MALS is a proprietary MHIsystem in which air is blownfrom blowers installed at theship's bottom, creating alayer of fine air bubbles thatcover the vessel bottom likea carpet. This configurationreduces frictional resistancebetween the ship hull andseawater as the ship cruises,realizing energy savings andcurbing CO2 emissions. �

Alistair Traylen, chief systems architect

DFDE = dual fuel diesel engines, STRH = steam turbine reheat / ultra steam turbine, MEGI = marine electric gas

injection, DRL = slow speed diesel, FSRU = vessel with regas capacity, FLNG = floating LNG production unit

Golar Igloo Samsung TZ Mk. III DFDE 170000 Q3-13 Kuwait FSRU Golar LNG 2031 WilhelmsenGolar

WilPride DSME GT NO 96 DFDE 155900 Q3-13 Awilco 2290 Awilco

Maran Gas Apollonia Hyundai Samho TZ Mk. III DFDE 164000 Q4-13 BG Portfolio MaranGas S624 Anangel

Gaslog Seattle Samsung TZ Mk. III DFDE 155000 Q4-13 Shell Portfolio GasLog 2041 CERES

Velikiy Novgorod STX O&S GT NO 96 DFDE 170200 Q1-14 Gazprom Portfolio Sovcomflot 1910 Sovcomflot

Golar Crystal Samsung TZ Mk. III DFDE 160000 Q1-14 Golar LNG 2022 WilhelmsenGolar

PGN FSRU Lampung Hyundai Heavy TZ Mk. III Azipod 170000 Q1-14 Indonesia FSRU Høegh LNG 2548 Høegh LNG

Maran Gas Delphi DSME GT NO 96 DFDE 159400 Q1-14 BG Portfolio MaranGas 2296 Anangel

Golar Penguin Samsung TZ Mk. III DFDE 160000 Q1-14 Golar LNG 2023 WilhelmsenGolar

Golar Bear Samsung TZ Mk. III DFDE 160000 Q1-14 Golar LNG 2027 WilhelmsenGolar

Gaslog NB-6 Samsung TZ Mk. III DFDE 155000 Q1-14 Shell Portfolio GasLog 2042 CERES

Cool Runner Samsung TZ Mk. III DFDE 160000 Q1-14 Thenamaris 2046 Bernard Schulte

Clean Ocean Hyundai Heavy TZ Mk. III DFDE 162000 Q1-14 Dynagas 2558 Dynagas

Independence Hyundai Heavy TZ Mk. III DFDE 170000 Q2-14 Lithuania FSRU Høegh LNG 2549 Høegh LNG

Golar Eskimo Samsung TZ Mk. III DFDE 160000 Q2-14 Jordan FSRU Golar LNG 2024 WilhelmsenGolar

Corcovado DSME GT NO 96 DFDE 159760 Q2-14 Cardiff 2297 Cardiff Gas

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EE NB-1 FSRU DSME GT NO 96 DFDE 173400 Q2-14 Petrobras VT3 Excelerate Energy 2402 TBD

Maran Gas Efessos DSME GT NO 96 DFDE 159400 Q2-14 BG Portfolio MaranGas 2291 Anangel

Hoegh NB-3 FSRU Hyundai Heavy TZ Mk. III Azipod 170000 Q2-14 Colburn LNG FSRU Høegh LNG 2550 Høegh LNG

Golar Frost Samsung TZ Mk. III DFDE 160000 Q2-14 Golar LNG 2055 WilhelmsenGolar

Kita DSME GT NO 96 DFDE 159760 Q2-14 Cardiff 2298 Cardiff Gas

Chevron NB-1 Samsung TZ Mk. III DFDE 160000 Q2-14 Chevron Portfolio ChevronTexaco 1920 Chevron Shipping

Golar Glacier Hyundai Samho TZ Mk. III DFDE 162000 Q3-14 Golar LNG S658 WilhelmsenGolar

Clean Planet Hyundai Heavy TZ Mk. III DFDE 162000 Q3-14 Dynagas 2565 Dynagas

Palu DSME GT NO 96 DFDE 159760 Q3-14 Cardiff 2400 Cardiff Gas

TEPCO NB-1 Mitsubishi H.I. Moss STRH 145500 Q3-14 TEPCO NYK 2289 NYK

Golar Snow Samsung TZ Mk. III DFDE 160000 Q3-14 Golar LNG 2047 WilhelmsenGolar

Chevron NB-2 Samsung TZ Mk. III DFDE 160000 Q3-14 Chevron Portfolio ChevronTexaco 1921 Chevron Shipping

Osaka Gas NB-1 Mitsubishi H.I. Moss STRH 153000 Q3-14 Osaka Gas Mitsui OSK / Osaka Gas 2295 MOL

Golar Kelvin Hyundai Samho TZ Mk. III DFDE 162000 Q3-14 Golar LNG S659 WilhelmsenGolar

Cool Explorer Samsung TZ Mk. III DFDE 160000 Q3-14 Thenamaris 2049 Bernard Schulte

Adam Hyundai Heavy TZ Mk. III DFDE 162000 Q3-14 Oman LNG 2584 Oman Shipping

Brunei NB-1 Hyundai Heavy TZ Mk. III DFDE 154800 Q3-14 Brunei Fleet Brunei Gas Carriers 2606 STASCO

Gaslog NB-7 Samsung TZ Mk. III DFDE 155000 Q3-14 Gaslog 2043 CERES

Yari DSME GT NO 96 DFDE 159760 Q3-14 Cardiff 2401 Cardiff Gas

BW Gas NB-1 Hyundai Heavy TZ Mk. III DFDE 161880 Q3-14 BW Gas 2571 BW

Maran NB-7 Hyundai Samho TZ Mk. III DFDE 164000 Q4-14 BG Portfolio MaranGas S626 Anangel

Golar Ice Samsung TZ Mk. III DFDE 160000 Q4-14 Golar LNG 2048 WilhelmsenGolar

Chubu NB-2 Mitsubishi H.I. Moss STRH 153000 Q4-14 Chubu Electric Mitsui Osk / Mitsubishi 2297 MOL

MOL PNG NB-1 Hudong Membrane SSD 170000 Q1-15 PNG / Gorgon Mitsui OSK H1670A MOL

Maran Gas Mistras DSME GT NO 96 DFDE 159400 Q1-15 BG Portfolio MaranGas 2405 Anangel

Gaslog NB-8 Samsung TZ Mk. III DFDE 155000 Q1-15 Gaslog 2044 CERES

BW Gas NB-2 Hyundai Heavy TZ Mk. III DFDE 161880 Q1-15 BW Gas 2572 BW

Chevron NB-3 Samsung TZ Mk. III DFDE 160000 Q1-15 Chevron Portfolio ChevronTexaco 1941 Chevron Shipping

Maria Energy Hyundai Heavy TZ Mk. III DFDE 170000 Q1-15 Tsakos 2612 TBD

Energy Atlantic STX O&S GT NO 96 DFDE 160000 Q1-15 Alpha Tankers 1670 TBD

Chubu NB-3 Mitsubishi H.I. Moss STRH 153000 Q1-15 Chubu Electric NYK 2298 NYK

Maran Gas London DSME GT NO 96 DFDE 159400 Q1-15 BG Portfolio MaranGas 2292 Anangel

Hoegh NB-4 FSRU Hyundai Heavy TZ Mk. III Azipod 170000 Q1-15 Høegh LNG 2251 Høegh LNG

Energy Pacific STX O&S GT NO 96 DFDE 160000 Q1-15 Alpha Tankers 1671 TBD

Dynacom NB-6 Hyundai Heavy TZ Mk. III DFDE 162000 Q1-15 Dynagas 2566 Dynagas

Osaka Gas NB-2 Mitsubishi H.I. Moss STRH 153000 Q2-15 Osaka Gas Mitsui OSK / Osaka Gas 2296 MOL

Maran Gas Alexandria Hyundai Samho TZ Mk. III DFDE 164000 Q2-15 BG Portfolio MaranGas S627 Anangel

Chevron NB-4 Samsung TZ Mk. III DFDE 160000 Q2-15 Chevron Portfolio ChevronTexaco 1942 Chevron Shipping

Petronas FLNG NB DSME GT NO 96 FLNG 180000 Q2-15 Petronas FLNG Petronas 6302 TBD

MOL PNG NB-2 Hudong Membrane SSD 170000 Q2-15 PNG / Gorgon Mitsui OSK H1671A MOL

THE WORLD’S NEWEST LNG CARRIERSName Yard Design Prop. CBM Delivery Trade Route Ship Owner Hull Operator

� NEWS LNG Unlimited6

LNG Unlimited NEWS � 7

Maran Gas Troy DSME GT NO 96 DFDE 159400 Q2-15 BG Portfolio MaranGas 2406 Anangel

Dynacom NB-7 Hyundai Heavy TZ Mk. III DFDE 162000 Q2-15 Dynagas 2567 Dynagas

Brunei NB-2 Hyundai Heavy TZ Mk. III DFDE 154800 Q2-15 Brunei Fleet Brunei Gas Carriers 2607 STASCO

SCF Melampus STX O&S GT NO 96 DFDE 170200 Q3-15 Shell Portfolio Sovcomflot 1912 Sovcomflot

NLNG NB-1 Samsung TZ Mk. III DFDE 170000 Q3-15 Nigeria LNG Bonny Gas Transport 2076 BGT

Maran NB-12 Hyundai Samho TZ Mk. III DFDE 164000 Q3-15 BG Portfolio MaranGas S689 Anangel

Maran NB-13 Hyundai Samho TZ Mk. III DFDE 164000 Q3-15 BG Portfolio MaranGas S688 Anangel

BW Gas NB-3 FSRU Samsung Membrane DFDE 170000 Q3-15 BW Gas 2074 BW

SCF Mitre STX O&S GT NO 96 DFDE 170200 Q3-15 Shell Portfolio Sovcomflot 1913 Sovcomflot

NLNG NB-2 Hyundai Heavy TZ Mk. III DFDE 170000 Q3-15 Nigeria LNG Bonny Gas Transport 2636 BGT

MOL PNG NB-3 Hudong Membrane SSD 170000 Q3-15 PNG / Gorgon Mitsui OSK H1672A MOL

Golar Tundra Samsung TZ Mk. III DFDE 170000 Q3-15 Gas Atacama FSRU Golar LNG 2056 WilhelmsenGolar

NLNG NB-3 Samsung TZ Mk. III DFDE 170000 Q4-15 Nigeria LNG Bonny Gas Transport 2077 BGT

Chevron NB-5 Samsung TZ Mk. III DFDE 160000 Q4-15 Chevron Portfolio ChevronTexaco 2069 Chevron Shipping

Chevron NB-6 Samsung TZ Mk. III DFDE 160000 Q4-15 Chevron Portfolio ChevronTexaco 2070 Chevron Shipping

Chubu NB-1 Kawasaki Moss STRH 164700 Q4-15 Chubu Electric K-Line 1713 K-Line

Shell NB-1 Samsung Membrane FLNG 225000 Q1-16 Shell FLNG Shell 2030 STASCO

Sinopec NB-1 Hudong Membrane DFDE 174000 Q1-16 APLNG China Shipping H1715A TBDGroup / Mitsui OSK

NLNG NB-4 Samsung TZ Mk. III DFDE 170000 Q1-16 Nigeria LNG Bonny Gas Transport 2078 BGT

Teekay NB-1 DSME GT NO 96 MEGI 173400 Q1-16 Cheniere Teekay LNG 2407 Teekay LNG

MOL PNG NB-4 Hudong Membrane SSD 170000 Q1-16 PNG / Gorgon Mitsui OSK H1673A MOL

Maran NB-16 DSME GT NO 96 DFDE 170000 Q1-16 BG Portfolio MaranGas 2412 Anangel

Maran NB-14 Hyundai Samho TZ Mk. III DFDE 173000 Q1-16 BG Portfolio MaranGas S690 Anangel

Gaslog NB-9 Samsung TZ Mk. III DFDE 173400 Q1-16 BG Portfolio Gaslog 2073 CERES

NLNG NB-5 Hyundai Heavy TZ Mk. III DFDE 170000 Q2-16 Nigeria LNG Bonny Gas Transport 2637 BGT

Teekay NB-2 DSME GT NO 96 MEGI 173400 Q2-16 Cheniere Teekay LNG 2408 Teekay LNG

Sinopec NB-2 Hudong Membrane DFDE 174000 Q2-16 APLNG China Shipping H1716A TBDGroup / Mitsui OSK

Maran NB-15 Hyundai Samho TZ Mk. III DFDE 173000 Q2-16 BG Portfolio MaranGas S691 Anangel

Maran NB-17 DSME GT NO 96 DFDE 170000 Q2-16 BG Portfolio MaranGas 2413 Anangel

NLNG NB-6 Samsung TZ Mk. III DFDE 170000 Q2-16 Nigeria LNG Bonny Gas Transport 2079 BGT

Kansai NB-1 Kawasaki Moss STRH 164700 Q2-16 Kansai Kansai / Mitsui OSK 1712 MOL

Gaslog NB-10 Samsung TZ Mk. III DFDE 173400 Q2-16 BG Portfolio Gaslog 2072 CERES

Teekay NB-3 DSME GT NO 96 MEGI 173400 Q3-16 Teekay LNG 2416 Teekay LNG

Uruguay FSRU DSME GT NO 96 DFDE 263000 Q3-16 Uruguay FSRU Mitsui OSK TBN MOL

Teekay NB-4 DSME GT NO 96 MEGI 173400 Q3-16 Teekay LNG 2417 Teekay LNG

SK Marubeni NB-1 Samsung TZ Mk. III DFDE 180000 Q3-16 Ichtys LNG SK Shipping / Marubeni 2080 SK Shipping

Gaslog NB-11 Samsung TZ Mk. III DFDE 173400 Q3-16 BG Portfolio Gaslog 2102 CERES

Sinopec NB-3 Hudong Membrane DFDE 174000 Q3-16 APLNG China Shipping H1717A TBDGroup / Mitsui OSK

SK Marubeni NB-2 Samsung TZ Mk. III DFDE 180000 Q4-16 Total Portfolio SK Shipping / Marubeni2081 SK Shipping

Petronas NB-1 Hyundai Heavy Moss STRH 150000 Q4-16 Petronas TBN MISC

Ichtys NB-1 Kawasaki Moss DFDE 182000 Q4-16 Ichtys LNG K-Line 1718 K-Line

Inpex NB-1 Mitsubishi H.I. Moss STRH 155300 Q4-16 Ichtys LNG K-Line / Inpex 2310 K-Line

Sinopec NB-4 Hudong Membrane DFDE 174000 Q1-17 APLNG China Shipping H1718A TBDGroup / Mitsui OSK

Gaslog NB-12 Samsung TZ Mk. III DFDE 173400 Q1-17 BG Portfolio Gaslog 2103 CERES

Flex NB-1 Samsung TZ Mk. III DFDE 174000 Q1-17 Flex LNG TBN TBD

Petronas NB-2 Hyundai Heavy Moss STRH 150000 Q1-17 Petronas TBN MISC

Flex NB-2 Samsung TZ Mk. III DFDE 174000 Q1-17 Flex LNG TBN TBD

Petronas NB-3 Hyundai Heavy Moss STRH 150000 Q2-17 Petronas TBN MISC

Kansai NB-2 Mitsubishi H.I. Moss STRH 155300 Q2-17 Kansai Kansai / Mitsui OSK 2299 MOL

Osaka Gas NB-3 Mitsubishi H.I. Moss STRH 153000 Q2-17 Osaka Gas Mitsui OSK / Osaka 2311 MOLGas / Kyushu

Petronas NB-4 Hyundai Heavy Moss STRH 150000 Q2-17 Petronas TBN MISC

Sinopec NB-5 Hudong Membrane DFDE 174000 Q2-17 APLNG China Shipping H1719A TBDGroup / Mitsui OSK

Sinopec NB-6 Hudong Membrane DFDE 174000 Q3-17 APLNG China Shipping H1720A TBDGroup / Mitsui OSK

Name Yard Design Prop. CBM Delivery Trade Route Ship Owner Hull Operator

DFDE = dual fuel diesel engines, STRH = steam turbine reheat / ultra steam turbine, MEGI = marine electric gas

injection, DRL = slow speed diesel, FSRU = vessel with regas capacity, FLNG = floating LNG production unit