A LNG JOURNAL TITLE ON LNG TANKERS

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1 LNG Shipping News A LNG JOURNAL TITLE ON LNG TANKERS 21 November 2013 Exmar to be first shipping company upstream 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. Exmar will wholly own and operate the Floating Liquefaction Storage and Regasification unit (FLSRU) stationed off the coast of Colombia in the Caribbean. It will export Colombian natural gas for Canadian major Pacific Rubiales, which has an ownership option. Exmar will also provide shipping services for Pacific Rubiales and its offtaker, Russian major Gazprom. Gazprom Marketing & Trading recently concluded a HOA for a five year SPA with the producer for 0.5 million tons per year of LNG. Pacifica Rubiales plans on keeping half of the product for domestic use in Colombia, and may ship some in the region, according to the shipyard building the vessel, Wison Offshore & Marine. The Caribbean FLSRU represents a considerable development for the industry with respect to the flexibility of LNG exports. Chief Financial Officer at Exmar Miguel DePotter explains, First of all the technology was not really available and then contractually no one was really looking for this type of vessel until recently, because the gas markets were probably less stable than they are today. It s cheaper, faster and easier to build something in a shipyard than to build something on land because you ve got 100 welders and engineers that are used to build. You don t have to build mountains and roads and things like that on location. This also changes the game in terms of obtaining contracts for construction from local authorities. Indeed, it is easier when you do things when you are far away from the shore than FLSRU illustration Source: Exmar when your are near the shore. FLSRU construction Exmar s barge-based liquefaction unit is currently on target to be mechanically completed in April 2014, and begin commercial operations in the by the second quarter of It is designed to use gas sent by pipeline from Pacific Rubiales La Creciente field, cleaned by the producer at the production site, and sent through an 88km pipeline to the barge where it is liquefied on the vessel. The unit incorporates both liquefaction and regas capacity with storage for both liquiefied and regasified gas. The liquefaction capacity will initially be 0.5 MTPA. LNG will be stored in on-board tanks with a total capacity of 16,100 cubic metres before being offloaded either to tanker or to a permanently-moored floating storage unit. Actually it is going to be configured the same as an FSRU with the ships alongside each other, connected with flexible hoses to offload the LNG from the terminal into the vessel, said DePotter. There isn t an offtaker for the moment for the regas. The idea is in order to get the import license we need to have the regasification capacity, but there is not an offtaker, and as such, it might not really be used. Engineering firm Black & Veatch is providing the liquefaction and regasification equipment while German TGE Marine is providing the containment system. Several FLNGs hit market after 2015 A slew of other liquefaction projects, are in various stages of development. UK shipping company, Golar LNG s FEED with Singaporean engineering company Keppel Offshore and Marine has just been completed for a FLNG vessel with 2-4 trains that have 0.5 to 0.7 MMTPA liquefaction capacity each. The concept is initially based on a conversion of a 125,000cbm moss LNG carrier, but it is also considering barge-based concepts. Malaysian major Petronas s 1.2 MTPA FLNG in Malaysia is scheduled for deployment in 2015, and major Shell s 3.6 MTPA Prelude FLNG off northwest Australia, scheduled to come online by Natural gas producers can save on build costs by replacing pipelines to onshore liquefaction terminals with FLNG, and can also use them within the burgeoning field of deepwater drilling. SHIPPING NEWS AGENDA BUSINESS Höegh LNG s Gas Natural charter extended SHIPYARDS Russian players sign MOU on Zvezda, Russian-Korean arctic LNG shipyard 3 FINANCE 2 Dynagas shares little changed after IPO 4 TECHNOLOGY Trelleborg puts spotlight on FSRU mooring challenges 5 LNG ORDERBOOK LNG vessels ordered 6

2 2 NEWS LNG Unlimited 21 November 2013 Höegh LNG s Gas Natural charter extended Spanish gas supplier Gas Natural last week exercised its option to extend its charter of 126,400cbm LNG Libra for 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 to decide so they can sail where they need to. Höegh LNG will take redelivery 12 months. of the vessel at the end of 2014, LNG Libra has been on charter after which Gas Natural will have to Gas Natural since last April for an option to extend the charter operation between Trinidad and period for up to an additional the import terminal at Escobar, Ar- Back in service: 126,400cbm LNG Libra gentina until mid-november LNG Libra is currently Höegh LNG s only vessel on charter to Gas Natural, but follows on a charter of Norman Lady, now retired. We previously also delivered Norman Lady, but that contract ended a few months ago, said Jæger. The EBITDA contribution to Höegh LNG for the extended period is around $8.7 million. If the option for further extension is exercised, this will contribute around $6.6 million to the EBITDA. GNL Escobar import terminal, floats on Paraná River, 30 miles outside Buenos Aires, an FSRU designed by Americna Excelerate Energy and owned by Argentine energy company YPF and Enarsa, Gas Natural is a supplier, along with BG to YPF and last month YPF said it will continue to use the supplier although an Argentine federal judge had ruled against it, Reuters reported. Höegh LNG s president and CEO, Sveinung J.S. Støhle said,"we are very pleased that Gas Natural has extended the charter for LNG Libra and has indicated interest to charter the vessel until end We are looking forward to continue our good relationship with Gas Natural in the coming years, and this extension underlines the good relations with Gas Natural as well as Höegh LNG's excellent performance record." Knutsen OAS management of Stream LNG vessels confirmed The 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. Norway s Knutsen OAS has been selected to manage two of four newbuildings expected to be ordered for Stream LNG, the joint venture company of Spanish major Gas Natural Fenosa and Repsol. The other two will be managed by Spanish shipping company Elcano. Knutsen OAS Shipping has officially signed two time charter parties with Gas Natural Aprovisionamient SDG, for a charter period of 20 years, after which the charterer will have options to extend the charter for two periods of five years successively. Knutsen OAS signed the deal on behalf of its two new Ship Owning Companies, Norspan LNG IX AS and Norspan LNG X AS. The two identical sister ships will have a capacity of 176,300cbm each, and be designed to sail through the newly expanded Panama channel, opening in As you may know, all our LNG vessels comes with Norspan LNG and then a sequential number. Accordingly these will be vessel nos. 9 and 10, said Johannes Brynjulvsen, general manager, newbuilding and projects, for 173,400cbm Valencia Knutsen is a spanish flag ship. Knutsen OAS. The vessels, HHI hull numbers and 22734, will be built by third and fourth quarter of A shipbuilding contract is expected to be signed by the end the shipyard for delivery in the of the week. LNG Shipping News 2nd floor, 8 Baltic Street East London, EC1Y 0UP United Kingdom Tel: +44 (0) Publisher Stuart Fryer Editor Cristina Brooks +44 (0) general@lngjournal.com Advertising Narges Jodeyri +44 (0) narges@lngjournal.com Events Natasha Wedlock Tel: +44 (0) natasha@lngjournal.com Subscriptions Elena Fuertes Tel: +44 (0) elena@lngjournal.com Subscription included with LNG Journal Production Vivian Chee Tel: +44 (0) chee@btconnect.com No part of this publication may be reproduced or stored in any form by any mechanical, electronic, photocopying, recording or any other means without the prior written consent of the publisher. Whilst the information and articles in LNG Shipping News are published in good faith and every effort is made to check accuracy, readers should verify facts and statements direct with official sources before acting on them as the publisher can accept no responsibility in this respect. Any opinions expressed in this publication should not be construed as those of the publisher.

3 21 November LNG Unlimited NEWS 3 NEWS NUDGE Golar LNG s Golar Celsius delivered Golar Celsius, a 160,000 cbm newbuilding, was delivered by Korean Shipyard Samsung for manager Wilhelmsen Golar, broker data shows. Greek shipowner Thenamaris plays it cool Thenamaris is believed to be closing a deal on shipping for Chevron, possibly as tonnage for the major s Gorgon LNG project in Australia as well as the Canadian Angola LNG project, said TradeWinds. In August Chevron chartered the company s 160,000-cbm new building Cool Voyager. BG Group ordering two new vessels Two 174,000cbm LNG units have been ordered by BG Group at Hudong Zhonghua Shipyard in China for an undisclosed price, with an option for two more and delivery in 2017, according to data from broker Golden Destiny. SCF product tanker transits NSR in reverse Last month SCF Group s product tanker Viktor Bakaev transited the NSR in an east-west direction from Yeosu, South Korea, as the last transit of the NSR during the navigational season of Since 2010 seven SCF Group vessels have transited NSR. Viktor Bakaev Source: Sovcomflot Russian players sign MOU on Zvezda, Russian-Korean arctic LNG shipyard Russian fleet owners and Korean shipyard DSME signed an MOU for an arctic LNG carrier shipbuilding cluster in Primorskiy Krai, southeast Russia, shipbuilding complex Zvezda. The technology partner, Korean Shipyard DSME will use its LNG shipbuilding knowledge to help establish a high-tech arctic shipbuilding and industrial location by The latest MOU combines Russian gas major Rosneft, with Russia's largest shipping company, Sovcomflot, and the financial arm of LNG fleet owning major Gazprom, Gazprombank. Plans for upgrading the existing Zvezda shipyard have been in the works since at least 2007, when JSC United Shipbuilding Corporation (USC) was established by presidential decree with the intention of potentially building LNG carriers in Russia for the first time. Zvezda-DSME, a joint venture company of DSME and USC, won its first shipbuilding contract for 12 oil carriers for Sovcomflot in This MOU comes on the back of an announcement in June from Gazprom Marketing & Trading that it hoped to team up and help to revive the Russian shipbuilding industry. Nikolai Grigoriev, managing director, shipping & logistics, Gazprom Marketing & Trading, said Lena river is technically capable of meeting all the regulatory requirements for safe transit of the route. Any vessel that travels through the NSR has to comply with Northern Sea Route Administration rules, including communication, emergency response plans and equipment, pilotage, crew training and experience. Should we deploy the Lena River on a voyage through the NSR, we will, of course, meet all the requirements of the NSR Administration. Open navigation is the likely time of transit for the vessel. DSME s technology includes an arctic drill ship (pictured). Gazprom Marketing and Trading signed the June strategic partnership with USC, involving Russian Maritime Register of Shipping (RS), Sovcomflot (SCF), to build 13 ships at Zvezda. Russian gas major Rosneft said it will use the new arctic shipyard to realise its programme to develop offshore projects in Russian waters on the Northern and Far East seas. Pipeline talks continue The MOU was signed last week during a visit of Russian President Lena River s specifications allow her to be deployed on voyages through the NSR during open navigation, he explained, adding, 155,000cbm Lena River features a tri-fuel diesel-electric propulsion system. Vladimir Putin to Korean president Park Geun-hye in South Korea s capital. In the meanwhile, there were discusssions for building a gas pipeline from gas-rich Russia to South Korea, which has ordered spot cargoes in recent months, Reuters reported. South Korea is a major gas market, and State-run Korea Gas Corp, has signed a deal to import 1.5 million tonnes of LNG a year originating in Sakhalin Island, Russia. Lena River is ready for the North Sea Route (NSR) Gazprom Marketing & Trading has expanded its fleet from mid-2013, taking delivery of four highly sophisticated and efficient LNG Carriers, including arctic carrier Lena River last month. The historic voyage of the Ob River in October-November last year has proven the technical feasibility of this route. However, any decision to do so for future cargoes on the Lena River will be determined by safety and commercial considerations. While proposed LNG carrier designs by Bureau Veritas include ice breaking capabilities on the LNG carriers, Gazprom s new LNG carrier in common with other arctic LNG carriers is not adapted for this purpose. The Lena River does not have ice breaking capability and we are not aware of any LNGC that does at the current time.

4 4 NEWS LNG Unlimited 21 November 2013 Dynagas shares little changed after IPO Shares of Dynagas LNG Partners were little changed after their first day's trading on the Nasdaq exchange after an initial public offering by the Greek-owned LNG carrier fleet operator that raised $225 million from the sale of 12.5M shares priced at $18 each. About seven million shares were traded on the first day in a range between $16.75 and $18.10 on the Nasdaq Global Select Market under the ticker "DLNG". Dynagas is headed by Greek shipowner George Prokopiou who is listed as company Chairman. The company has Tony Lauritzen as Chief Executive and Michael Gregos as Chief Financial Officer. The US listing by the Prokopiou LNG carrier company is following in the steps of another Greek LNG carrier fleet owner, Peter G. Livanos whose Monaco-based GasLog LNG fleet sold shares to investors in a US IPO in April 2012 and is now listed on the New York Stock Exchange. Dynagas took delivery in July this year of two new ice-class membrane LNG carriers from the Hyundai Heavy Industry shipyard in Ulsan in South Korea as it builds up its fleet. The two 155,000 cubic metres vessels were named the "Yenisei River" and the "Arctic Aurora" and are fitted with GTT Mk III containment tanks. Dynagas Partners was formed on May 30, 2013 by Dynagas Holding to own, operate and acquire LNG carriers initially employed on multi-year charters. The initial fleet of Dynagas Partners will consist of three LNG carriers, each of which has a carrying capacity of around 155,000 cbm Arctic Aurora 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 secured debts and for general partnership purposes, including working capital and vessel acquisitions. GasLog CEO explains strong results for Monaco-based LNG carrier operator GasLog Chief Executive Paul Wogan reported another strong quarter for the Monaco-based and New York-listed LNG carrier fleet operator - with BG Group of the UK being its main client. GasLog posted earnings before major deductions of $27.9 million and profits of $9.2M for the third quarter. On contracted charter revenues, GasLog said it planned to increase the total from $56.28M for fiscal year 2012 to $280M for fiscal year 2017, based on contracts in effect as of September 30, 2013, for the 12 ships in GasLog's owned fleet for which time charters have been secured. 155,000cbm Gaslog Singapore These include contracts for six newbuildings that are scheduled to be delivered on various dates in 2013, 2014 and 2016, but does not include extensions options. "I am also pleased to report that as a result of our growing business and strengthening cash flows, we are able to reward our shareholders by raising the quarterly dividend to $0.12. "We continued to execute on our business plan with the delivery of the 'GasLog Skagen' ahead of schedule and on budget as well as the continued 100 percent utilization of our on-the-water fleet," said Wogan. "As previously reported we contracted two new buildings, during the quarter, at Samsung Heavy Industries for delivery in 2016 with associated seven-year charters to BG and secured options for the construction of up to six additional new buildings. "Our strong relationship with Samsung enabled us to extend the six options into the first quarter of "In addition, the strength of our underlying business allied with our close banking relationships allowed us to move quickly to secure the purchase of the 'GasLog Chelsea' at what we believe was a very competitive price. "Our highly efficient and effective operating platform enabled us to take possession of the ship and quickly place it on its first shortterm charter. "We continue to be excited about further potential consolidation and fleet growth opportunities and feel we are well placed to take advantage of these opportunities due to our operational platform allied with the ongoing development of our capital structure," Wogan added.

5 21 November 2013 LNG Unlimited NEWS 5 Trelleborg puts spotlight on FSRU mooring challenges 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. At the moment, in some applications, jetty and FSRU operators are both capable of releasing the mooring lines attached to an FSRU when it is moored between a jetty and an LNGC in ship-to-ship offloading configuration. The challenge is that you need to control those mooring hooks from the jetty, but you wouldn t want to release the FRSU in the middle inadvertently with the LNGC still moored, said Traylen. You have to control the release in a certain sequence in cooperation with the LNGC. You may want to release the LNGC bow mooring first, assisted by a tugboat, then you might want to release those lines from the midships of the FSRU, and finally release the stern lines. The thrust of that webinar is really raising awareness about these compound mooring situations, emphasied Traylen, adding, Mooring tension and remote release systems should be considered with a holistic approach so that there is one set of information available to all the entities. Bow and stern mooring lines bypassing the FSRU in the middle and connecting to the jetty Alistair Traylen, chief systems architect Optimal emergency release means cooperation at build stage The lack of mooring integration comes from having different suppliers that are not coordinating it, said Traylen. The EPC is given the job of building the jetty and the shipyard is given the job of building the FSRU and LNG carrier mooring. The problem is that the emergency release systems of both need to be functioning in tandem. In the case of FSRU terminals,the owner operator for the regasification facility needs to be aware of the complexities when dealing with compound moorings. The choice of where to put the integrated emergency controls will depend on the engineering of that individual terminal, Traylen said. If your FSRU is where the operators are based because on of an unmanned jetty, that s where most of the release operations are managed. There are situations where they need to manage the operations either from the jetty side or FSRU side, and in Trelleborg s optimal configuration, you can manage from either the FSRU or the Jetty, said Traylen. Controls and mooring equipment, integrated Trelleborg have for many years offered emergency release activated, mooring equipment in its SmartHook range targeting jetty operators. Trelleborg last year introduced two new segments targeting the FSRU/LNGC market with the acquisition of SeaTechnik, a provider of ship-to-shore safety controls and hardware. The Seatechnik SSL Link is now installed on more than 90 percent of the active LNGC fleet, as well as 100 percent of FSRU and regas terminals, said Trelleborg. The SSL link is used to communicate data as well as communicate data signals but it s also an element in transmitting the data in these entities between the FSRU and jetty and FSRU and LNGC, said Traylen. MHI to offer fuel saving software Japanese Mitsubishi Heavy Industries and Japanese IT multinational NEC Corporation have announced a partnership to develop a Demand Forecast System for Ships to save fuel for ships for launch in March Energy Demand Forecast System for Ships will project future fuel demand to decrease operational costs for ships, and potential emissions reduction. NEC's proprietary forecasting technology will be used to automatically detect patterns hidden in big data of ship fuel consumption. Calculations will be based on previously collected data relating to ships' energy consumption, weather patterns, ambient air temperature, and time of day. Operators will be able to use it to control of the operating ratios of a ship's engine and power generators, as well as the number of units to be in operation, based on highly precise energy demand forecasts. MHI plans to propose the Energy Demand Forecast System for Ships, along with its independently developed Mitsubishi Air Lubrication System (MALS) for application in new ship construction and in existing vessels upgrades. MALS is a proprietary MHI system in which air is blown from blowers installed at the ship's bottom, creating a layer of fine air bubbles that cover the vessel bottom like a carpet. This configuration reduces frictional resistance between the ship hull and seawater as the ship cruises, realizing energy savings and curbing CO2 emissions.

6 6 NEWS LNG Unlimited THE WORLD S NEWEST LNG CARRIERS Name Yard Design Prop. CBM Delivery Trade Route Ship Owner Hull Operator Golar Igloo Samsung TZ Mk. III DFDE Q3-13 Kuwait FSRU Golar LNG 2031 WilhelmsenGolar WilPride DSME GT NO 96 DFDE Q3-13 Awilco 2290 Awilco Maran Gas Apollonia Hyundai Samho TZ Mk. III DFDE Q4-13 BG Portfolio MaranGas S624 Anangel Gaslog Seattle Samsung TZ Mk. III DFDE Q4-13 Shell Portfolio GasLog 2041 CERES Velikiy Novgorod STX O&S GT NO 96 DFDE Q1-14 Gazprom Portfolio Sovcomflot 1910 Sovcomflot Golar Crystal Samsung TZ Mk. III DFDE Q1-14 Golar LNG 2022 WilhelmsenGolar PGN FSRU Lampung Hyundai Heavy TZ Mk. III Azipod Q1-14 Indonesia FSRU Høegh LNG 2548 Høegh LNG Maran Gas Delphi DSME GT NO 96 DFDE Q1-14 BG Portfolio MaranGas 2296 Anangel Golar Penguin Samsung TZ Mk. III DFDE Q1-14 Golar LNG 2023 WilhelmsenGolar Golar Bear Samsung TZ Mk. III DFDE Q1-14 Golar LNG 2027 WilhelmsenGolar Gaslog NB-6 Samsung TZ Mk. III DFDE Q1-14 Shell Portfolio GasLog 2042 CERES Cool Runner Samsung TZ Mk. III DFDE Q1-14 Thenamaris 2046 Bernard Schulte Clean Ocean Hyundai Heavy TZ Mk. III DFDE Q1-14 Dynagas 2558 Dynagas Independence Hyundai Heavy TZ Mk. III DFDE Q2-14 Lithuania FSRU Høegh LNG 2549 Høegh LNG Golar Eskimo Samsung TZ Mk. III DFDE Q2-14 Jordan FSRU Golar LNG 2024 WilhelmsenGolar Corcovado DSME GT NO 96 DFDE Q2-14 Cardiff 2297 Cardiff Gas SCF Pskov STX O&S GT NO 96 DFDE Q2-14 Gazprom Portfolio Sovcomflot 1911 Sovcomflot Maran Gas Posidonia Hyundai Samho TZ Mk. III DFDE Q2-14 BG Portfolio MaranGas S625 Anangel EE NB-1 FSRU DSME GT NO 96 DFDE Q2-14 Petrobras VT3 Excelerate Energy 2402 TBD Maran Gas Efessos DSME GT NO 96 DFDE Q2-14 BG Portfolio MaranGas 2291 Anangel Hoegh NB-3 FSRU Hyundai Heavy TZ Mk. III Azipod Q2-14 Colburn LNG FSRU Høegh LNG 2550 Høegh LNG Golar Frost Samsung TZ Mk. III DFDE Q2-14 Golar LNG 2055 WilhelmsenGolar Kita DSME GT NO 96 DFDE Q2-14 Cardiff 2298 Cardiff Gas Chevron NB-1 Samsung TZ Mk. III DFDE Q2-14 Chevron Portfolio ChevronTexaco 1920 Chevron Shipping Golar Glacier Hyundai Samho TZ Mk. III DFDE Q3-14 Golar LNG S658 WilhelmsenGolar Clean Planet Hyundai Heavy TZ Mk. III DFDE Q3-14 Dynagas 2565 Dynagas Palu DSME GT NO 96 DFDE Q3-14 Cardiff 2400 Cardiff Gas TEPCO NB-1 Mitsubishi H.I. Moss STRH Q3-14 TEPCO NYK 2289 NYK Golar Snow Samsung TZ Mk. III DFDE Q3-14 Golar LNG 2047 WilhelmsenGolar Chevron NB-2 Samsung TZ Mk. III DFDE Q3-14 Chevron Portfolio ChevronTexaco 1921 Chevron Shipping Osaka Gas NB-1 Mitsubishi H.I. Moss STRH Q3-14 Osaka Gas Mitsui OSK / Osaka Gas 2295 MOL Golar Kelvin Hyundai Samho TZ Mk. III DFDE Q3-14 Golar LNG S659 WilhelmsenGolar Cool Explorer Samsung TZ Mk. III DFDE Q3-14 Thenamaris 2049 Bernard Schulte Adam Hyundai Heavy TZ Mk. III DFDE Q3-14 Oman LNG 2584 Oman Shipping Brunei NB-1 Hyundai Heavy TZ Mk. III DFDE Q3-14 Brunei Fleet Brunei Gas Carriers 2606 STASCO Gaslog NB-7 Samsung TZ Mk. III DFDE Q3-14 Gaslog 2043 CERES Yari DSME GT NO 96 DFDE Q3-14 Cardiff 2401 Cardiff Gas BW Gas NB-1 Hyundai Heavy TZ Mk. III DFDE Q3-14 BW Gas 2571 BW Maran NB-7 Hyundai Samho TZ Mk. III DFDE Q4-14 BG Portfolio MaranGas S626 Anangel Golar Ice Samsung TZ Mk. III DFDE Q4-14 Golar LNG 2048 WilhelmsenGolar Chubu NB-2 Mitsubishi H.I. Moss STRH Q4-14 Chubu Electric Mitsui Osk / Mitsubishi 2297 MOL MOL PNG NB-1 Hudong Membrane SSD Q1-15 PNG / Gorgon Mitsui OSK H1670A MOL Maran Gas Mistras DSME GT NO 96 DFDE Q1-15 BG Portfolio MaranGas 2405 Anangel Gaslog NB-8 Samsung TZ Mk. III DFDE Q1-15 Gaslog 2044 CERES BW Gas NB-2 Hyundai Heavy TZ Mk. III DFDE Q1-15 BW Gas 2572 BW Chevron NB-3 Samsung TZ Mk. III DFDE Q1-15 Chevron Portfolio ChevronTexaco 1941 Chevron Shipping Maria Energy Hyundai Heavy TZ Mk. III DFDE Q1-15 Tsakos 2612 TBD Energy Atlantic STX O&S GT NO 96 DFDE Q1-15 Alpha Tankers 1670 TBD Chubu NB-3 Mitsubishi H.I. Moss STRH Q1-15 Chubu Electric NYK 2298 NYK Maran Gas London DSME GT NO 96 DFDE Q1-15 BG Portfolio MaranGas 2292 Anangel Hoegh NB-4 FSRU Hyundai Heavy TZ Mk. III Azipod Q1-15 Høegh LNG 2251 Høegh LNG Energy Pacific STX O&S GT NO 96 DFDE Q1-15 Alpha Tankers 1671 TBD Dynacom NB-6 Hyundai Heavy TZ Mk. III DFDE Q1-15 Dynagas 2566 Dynagas Osaka Gas NB-2 Mitsubishi H.I. Moss STRH Q2-15 Osaka Gas Mitsui OSK / Osaka Gas 2296 MOL Maran Gas Alexandria Hyundai Samho TZ Mk. III DFDE Q2-15 BG Portfolio MaranGas S627 Anangel Chevron NB-4 Samsung TZ Mk. III DFDE Q2-15 Chevron Portfolio ChevronTexaco 1942 Chevron Shipping Petronas FLNG NB DSME GT NO 96 FLNG Q2-15 Petronas FLNG Petronas 6302 TBD MOL PNG NB-2 Hudong Membrane SSD Q2-15 PNG / Gorgon Mitsui OSK H1671A MOL 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

7 LNG Unlimited NEWS 7 Name Yard Design Prop. CBM Delivery Trade Route Ship Owner Hull Operator Maran Gas Troy DSME GT NO 96 DFDE Q2-15 BG Portfolio MaranGas 2406 Anangel Dynacom NB-7 Hyundai Heavy TZ Mk. III DFDE Q2-15 Dynagas 2567 Dynagas Brunei NB-2 Hyundai Heavy TZ Mk. III DFDE Q2-15 Brunei Fleet Brunei Gas Carriers 2607 STASCO SCF Melampus STX O&S GT NO 96 DFDE Q3-15 Shell Portfolio Sovcomflot 1912 Sovcomflot NLNG NB-1 Samsung TZ Mk. III DFDE Q3-15 Nigeria LNG Bonny Gas Transport 2076 BGT Maran NB-12 Hyundai Samho TZ Mk. III DFDE Q3-15 BG Portfolio MaranGas S689 Anangel Maran NB-13 Hyundai Samho TZ Mk. III DFDE Q3-15 BG Portfolio MaranGas S688 Anangel BW Gas NB-3 FSRU Samsung Membrane DFDE Q3-15 BW Gas 2074 BW SCF Mitre STX O&S GT NO 96 DFDE Q3-15 Shell Portfolio Sovcomflot 1913 Sovcomflot NLNG NB-2 Hyundai Heavy TZ Mk. III DFDE Q3-15 Nigeria LNG Bonny Gas Transport 2636 BGT MOL PNG NB-3 Hudong Membrane SSD Q3-15 PNG / Gorgon Mitsui OSK H1672A MOL Golar Tundra Samsung TZ Mk. III DFDE Q3-15 Gas Atacama FSRU Golar LNG 2056 WilhelmsenGolar NLNG NB-3 Samsung TZ Mk. III DFDE Q4-15 Nigeria LNG Bonny Gas Transport 2077 BGT Chevron NB-5 Samsung TZ Mk. III DFDE Q4-15 Chevron Portfolio ChevronTexaco 2069 Chevron Shipping Chevron NB-6 Samsung TZ Mk. III DFDE Q4-15 Chevron Portfolio ChevronTexaco 2070 Chevron Shipping Chubu NB-1 Kawasaki Moss STRH Q4-15 Chubu Electric K-Line 1713 K-Line Shell NB-1 Samsung Membrane FLNG Q1-16 Shell FLNG Shell 2030 STASCO Sinopec NB-1 Hudong Membrane DFDE Q1-16 APLNG China Shipping H1715A TBD NLNG NB-4 Samsung TZ Mk. III DFDE Q1-16 Nigeria LNG Bonny Gas Transport 2078 BGT Teekay NB-1 DSME GT NO 96 MEGI Q1-16 Cheniere Teekay LNG 2407 Teekay LNG MOL PNG NB-4 Hudong Membrane SSD Q1-16 PNG / Gorgon Mitsui OSK H1673A MOL Maran NB-16 DSME GT NO 96 DFDE Q1-16 BG Portfolio MaranGas 2412 Anangel Maran NB-14 Hyundai Samho TZ Mk. III DFDE Q1-16 BG Portfolio MaranGas S690 Anangel Gaslog NB-9 Samsung TZ Mk. III DFDE Q1-16 BG Portfolio Gaslog 2073 CERES NLNG NB-5 Hyundai Heavy TZ Mk. III DFDE Q2-16 Nigeria LNG Bonny Gas Transport 2637 BGT Teekay NB-2 DSME GT NO 96 MEGI Q2-16 Cheniere Teekay LNG 2408 Teekay LNG Sinopec NB-2 Hudong Membrane DFDE Q2-16 APLNG China Shipping H1716A TBD Maran NB-15 Hyundai Samho TZ Mk. III DFDE Q2-16 BG Portfolio MaranGas S691 Anangel Maran NB-17 DSME GT NO 96 DFDE Q2-16 BG Portfolio MaranGas 2413 Anangel NLNG NB-6 Samsung TZ Mk. III DFDE Q2-16 Nigeria LNG Bonny Gas Transport 2079 BGT Kansai NB-1 Kawasaki Moss STRH Q2-16 Kansai Kansai / Mitsui OSK 1712 MOL Gaslog NB-10 Samsung TZ Mk. III DFDE Q2-16 BG Portfolio Gaslog 2072 CERES Teekay NB-3 DSME GT NO 96 MEGI Q3-16 Teekay LNG 2416 Teekay LNG Uruguay FSRU DSME GT NO 96 DFDE Q3-16 Uruguay FSRU Mitsui OSK TBN MOL Teekay NB-4 DSME GT NO 96 MEGI Q3-16 Teekay LNG 2417 Teekay LNG SK Marubeni NB-1 Samsung TZ Mk. III DFDE Q3-16 Ichtys LNG SK Shipping / Marubeni 2080 SK Shipping Gaslog NB-11 Samsung TZ Mk. III DFDE Q3-16 BG Portfolio Gaslog 2102 CERES Sinopec NB-3 Hudong Membrane DFDE Q3-16 APLNG China Shipping H1717A TBD SK Marubeni NB-2 Samsung TZ Mk. III DFDE Q4-16 Total Portfolio SK Shipping / Marubeni2081 SK Shipping Petronas NB-1 Hyundai Heavy Moss STRH Q4-16 Petronas TBN MISC Ichtys NB-1 Kawasaki Moss DFDE Q4-16 Ichtys LNG K-Line 1718 K-Line Inpex NB-1 Mitsubishi H.I. Moss STRH Q4-16 Ichtys LNG K-Line / Inpex 2310 K-Line Sinopec NB-4 Hudong Membrane DFDE Q1-17 APLNG China Shipping H1718A TBD Gaslog NB-12 Samsung TZ Mk. III DFDE Q1-17 BG Portfolio Gaslog 2103 CERES Flex NB-1 Samsung TZ Mk. III DFDE Q1-17 Flex LNG TBN TBD Petronas NB-2 Hyundai Heavy Moss STRH Q1-17 Petronas TBN MISC Flex NB-2 Samsung TZ Mk. III DFDE Q1-17 Flex LNG TBN TBD Petronas NB-3 Hyundai Heavy Moss STRH Q2-17 Petronas TBN MISC Kansai NB-2 Mitsubishi H.I. Moss STRH Q2-17 Kansai Kansai / Mitsui OSK 2299 MOL Osaka Gas NB-3 Mitsubishi H.I. Moss STRH Q2-17 Osaka Gas Mitsui OSK / Osaka 2311 MOL Gas / Kyushu Petronas NB-4 Hyundai Heavy Moss STRH Q2-17 Petronas TBN MISC Sinopec NB-5 Hudong Membrane DFDE Q2-17 APLNG China Shipping H1719A TBD Sinopec NB-6 Hudong Membrane DFDE Q3-17 APLNG China Shipping H1720A TBD 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