Exmar Secures Employment for Latest Three LNGRV’s

Exmar is pleased to announce that its three remaining LNG Regasifcation Vessels (LNGRV’s), currently under construction at the Okpo Shipyard of Daewoo Shipbuilding & Engineering Co Ltd (DSME) have secured long-term employment with Excelerate energy L.P.

Antwerp, Belgium, June 04, 2008 --(PR.com)-- These vessels, Hull N°2270 to be named Exquisite, Hull N°2271 to be named Expedient and Hull N°2272 to be named Exemplar will have a cargo capacity of 150,900m³ and will be delivered in 2009/10.

As a result of this new position, the participation by Exmar in all three of these ships will reduce from 67% to 50%.

Finalising these long term time charters is due in part to the continuing success of the Energy BridgeTM system, the development of GasPort projects together with an increasing number of ship-to-ship transfer operations, all in which Exmar has been instrumental.

Recently it was announced that Excelerate Energy had commissioned Northeast Gateway Deepwater Port (“NEG”) in Massachusetts Bay 18 miles off Boston utilising LNGRV Excellence (138,120m³ built 2005) managed by Exmar-subsidiary, Exmar Shipmanagement. In addition to increasing attention to emissions from the fleet in general, these vessels are equipped to reduce their NOx emissions by nearly 90% and their water consumption and discharge by nearly 98%, an industry-leading accomplishment whilst operating at NEG.

LNGRV Excelsior (138,087m³ built 2005) arrived in Bahía Blanca, Argentina, on 26th May 2008 to inaugurate South America’s first-ever LNG receiving facility and the world’s second dockside regasification facility, Bahía Blanca GasPort. She docked alongside a dedicated jetty where she will feed natural gas directly into Argentina’s gas distribution system. She will remain there for about five months and will be supplied ship-to-ship transfer.

Exmar NV
Ian Matheson
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