Offshore staff

(US, GoM) – EXMAR confirms it has executed a long-term charter with Woodlands, Texas-based Excelerate Energy LP, for a liquefied natural gas regasification vessel.

Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME) will build the vessel. It will be constructed incorporating the GTT membrane containment system together with Excelerate's Energy Bridge technology and will have a capacity of approximately 150,900m³.

The vessel is expected to be delivered in 2Q 2009. Excelerate Energy anticipates using the ship to deliver regasified LNG to the Gulf Gateway - the GoM Deepwater Port located 116 mi off the Louisiana cost. It will also service the proposed NorthEast Gateway - a deepwater port to be located offshore in Massachusetts Bay, near Boston.

The vessel will be owed by a 50/50 joint venture comprising EXMAR and Excelerate Energy LP.

11/23/05