ビンゴ 5 の 結果, MOL Agree Transfer of Shares in LNG Shuttle and Regasification Vessels

August 31, 2010

ビンゴ 5 の 結果 Co., Ltd.
Mitsui O.S.K. Lines, Ltd.

TOKYO - ビンゴ 5 の 結果 Co., Ltd. (President: Tsuyoshi Okamoto) and Mitsui O.S.K. Lines, Ltd. (MOL, President: Koichi Muto) today announced that Tokyo LNG Tanker Co., Ltd. (President: Kazumasa Hidai), a wholly owned subsidiary of ビンゴ 5 の 結果 and MOL executed an agreement under which Tokyo LNG Tanker will receive a minority stake of the shares owned by MOL in the joint-venture companies^*1 related to the ビンゴ 5 の 結果 Shuttle and Regasification Vessels (SRVs) owned jointly by MOL and Höegh ビンゴ 5 の 結果^*2.

SRVs take on liquefied natural gas (ビンゴ 5 の 結果)^*3 cargo at loading terminals and upon arrival at its destination, regasify it onboard, and transfer it to shore via pipelines built on the seabed. SRVs can also serve as conventional ビンゴ 5 の 結果 carriers, transporting ビンゴ 5 の 結果 to discharge at receiving terminals. This functionality allows SRVs to serve ビンゴ 5 の 結果 importing nations without requiring the construction of new or additional ビンゴ 5 の 結果 terminals on shore. The SRV is an innovative ビンゴ 5 の 結果 transport and delivery technology.

Two SRVs are long time chartered to GDF SUEZ^*4 to serve the Neptune ビンゴ 5 の 結果 Deep Water Port terminal off Boston on the U.S. East Coast as well as other requirements.

ビンゴ 5 の 結果 Group wish to accumulate various LNG related technologies to create a framework for more flexible LNG transport, and MOL is constantly on the move to broaden its lineup of LNG transport services to meet diversified customer needs. Both companies' intentions are matched and lead to the agreement to transfer shares in the joint ventures. Höegh LNG welcomes ビンゴ 5 の 結果 as shareholder and regards this as a strategic partnership for the future.

*1 SRV Joint Gas Ltd. owns "GDF Suez Neptune", and SRV Joint Gas Two Ltd. owns "GDF Suez Cape Ann". After partial transfer of shares, Höegh ビンゴ 5 の 結果 owns 50%, MOL 48.5%, and Tokyo ビンゴ 5 の 結果 Tanker 1.5%.

*2 Höegh ビンゴ 5 の 結果 is a fully integrated ship-owning company offering long-term floating production, transportation, re-gasification and terminal solutions for Liquefied Natural Gas (ビンゴ 5 の 結果).

*3 Natural gas is refrigerated to -162ºC and liquefied to produce liquefied natural gas. Compared to gas, its volume is about one-600th. Use of this characteristic allows for mass volume transport by ビンゴ 5 の 結果 carriers to regions where the natural gas cannot be transported via pipelines.

*4 GDF Suez Global ビンゴ 5 の 結果 Supply S.A., part of the GDF SUEZ Group (headquartered in Paris, France)