December 2, 2004

Japanese Consortium signs a Long-Term Charter Agreement for a New LNG Carrier with Ras Laffan Liquefied Natural Gas Co. Ltd II　

Doha, Qatar-A consortium comprising Mitsui O.S.K. Lines, Ltd. (MOL), Nippon Yusen Kabushiki Kaisha (NYK), Kawasaki Kisen Kaisha, Ltd. ("K" Line) and Mitsui & Co., Ltd. (Mitsui) announced the signing of a 25 year long-term charter agreement on December 1 for a new 145,000 m3 liquefied natural gas (LNG) carrier to transport LNG for Ras Laffan Liquefied Natural Gas Co. Ltd II (RasGas II). This follows four earlier agreements for LNG carriers signed on October 16, 2002, January 16, 2003 and October 16, 2003, bringing to five the total number of LNG carriers now transporting LNG for RasGas II.

The consortium signed a shipbuilding contract with Samsung Heavy Industries Co., Ltd for the construction of the new ship. The new ship, which will feature a membrane cargo containment system, is scheduled for delivery in January 2007. The ship will be employed in the exportation of LNG from Ras Laffan, Qatar to Europe. NYK will be appointed as the shipmanager of the ship.

RasGas II, a company 70% owned by Qatar Petroleum and 30% by ExxonMobil, was established to expand LNG facilities to a production capability of 15.0 million tons of LNG annually, for export mainly to Indian and European markets.