“Harvey Energy” will be based outof Port Fourchon on long-termShell Oil charter, having beenawarded the first certificate of in-spection from the US Coast Guardfor a vessel fuelled by LNG. Thevessel can bunker 78,000 gallonsof LNG fuel."

Earlier this month Harvey Gulfsaid it had managed the Truck-to-Ship (TTS) bunkering of “HarveyEnergy” at the Pascagoula, Missis-sippi terminal owned by Americannatural gas liquids distribution andstorage provider Martin MidstreamPartners.

Martin Midstream Partners ac-quired a controlling interest gasstorage supplier Cardinal Gas Stor-age in September.

Finnish LNG equipment supplierWärtsilä, supplier of 6L34DF dualfuel gensets and the LNGPac gashandling system, provided the LNGsupply on a contract of 76,900 gal-lons over about 21 days.

Harvey Gulf stored the LNG atits purpose-built LNG-fuelling fa-cility in Port Fourchon, Louisianamarine fuelling facility under de-velopment. Class body DNV GL ex-pects the facility, the first suchfacility in North America, to beoperational this year.

Supervising the TTS operationwere the crew of the Harvey En-ergy, American yard Gulf CoastShipyard Group (GCSG), along withMartin Midstream Partners’ affili-ate Martin Energy Martin EnergyServices, which provided trans-loading assistance.

Other participants were Wärtsilä,the US Coast Guard, the Americanclass body ABS, as well as state andlocal government representatives.

The ship was expected to be

moved to GCSG’s newly commis-sioned space at the Port of Gulf-port in mid-March for finalcompletion and testing.

“Harvey Energy” is the first ina fleet of six LNG-fuelled OSVs forHarvey Gulf.

The US operator has agreedlong term charters for three OSVs:“Harvey Energy”, “Harvey Power”and “Harvey Liberty,” which areexpected to provide deepwaterservices.

Harvey Gulf said, “The cool-down process took approximately12 hours to achieve the desiredtank temperature and pressureutilizing 3,800 gallons of nitrogen.The LNG bunkering was success-fully completed within a few hoursof cool-down. The Harvey Energywill next proceed to LNG trials be-fore delivery.”

Harvey Gulf has also contractedwith a GCSG to construct a dry-dockto lower maintenance and repaircosts and reduce vessel downtimefor its fleet of deepwater vessels.

LNG fuel market rises 13%MEC Intelligence, a market con-sulting firm in maritime, energy,and cleantech industries based inDenmark, has reported that theglobal LNG-fuelled vessel order-book jumped 13% in the last fourmonths, as 0.1% sulphur emissionslimits took effect January 1 in European Sulfur Emissions Control

Areas (SECAs).LNG-fuelled container ships

were a key growth area with 125%order increase to 10 orders duringthe period. At the end of Januarythe confirmed order book for LNG-fuelled vessels stood at 78 com-pared to 69 in September of lastyear.

Nonetheless, low sulfur marinegas oil (LSMGO), has been the fuelof choice for compliance for themajority including containers,bulkers and tankers.

The oil price drop, increasingthe competitiveness of low sulfurfuels like LSMGO seems to have dis-couraged both orders of LNG-fu-elled vessels and orders of scrubbersystems. There were order cancel-lations in October from BrittanyFerries for four LNG-fuelled vessels,three of which were retrofits.

“In the wake of oil price uncer-tainty, we might expect theslowed down activity to continuein terms of adoption of othertechnologies such as scrubber andLNG,” the report found.

“However, when global 0.5%Sulfur limit gets enforced in 2020or 2025, there would not only bethe fuel price concern but the sup-ply sufficiency of global refineriesto cater to the increased low sulfurfuel demand. The vessel ownerswould keep on exploring the rightcompliance strategies tailor madeto match their requirements.“ !

A LNG JOURNAL TITLE ON LNG TANKERS AND SMALL SCALE 19 February 2015

LNG Shipping NewsHarvey Gulf delivers first US LNG-fuelled ship

SHIPPINGNEWS

AGENDA

Litgas and Statoil plan Baltic small scale venture 3

BUNKERING

MARKETS

BV classing CanadianLNG-fuelled ferries

4

Evergas books small-scale multi-gas pair

2

BUSINESS

Harvey Gulf, the Louisiana-based operator of an LNG fuelling facility and LNG-fuelled offshore support vessels (OSV) serving Gulf of Mexico operations, last weekdelivered OSV M/V “Harvey Energy” to Shell Oil, the first LNG-fuelled vessel to

enter service in North America.

TECHNOLOGY

Shell picks Wärtsiläengines for LNGbunker ship

5

M/V Harvey Energy begins Shell Oil charter Source

LNG small scale fleet

10

LNG vessels ordered

8

LNG ORDERBOOK

The operator is aiming to focus onsmall LNG and become the "go-to"operator in its 10,000-12,000cubic metre vessels in Europe’s

short-term small scale LNG distri-bution and bunkering market, ittold investors.

“For smaller LNG vessels wecan see an order book of threesmaller sized vessels targeted forbunkering operations. Also, the re-mainder of the current sailingfleet of small scale LNG vessels istied up in longer charter agree-ments. This gives the company aunique position to provide suitableLNG tonnage for our clients in thenear to medium term.”

The company proposes to offerNorgas’s LNG-capable vessels

alongside transfer services of theGroup's Skaugen PetroTrans (SPT)company, which provides consul-tancy and advice as well O&Mmanagement of LNG terminals.

Skaugen SE has a joint venturewith Norwegian utility and termi-nal operator Lyse, Nordic LNG,which uses a multigas vessel totransport the LNG to the utlity’sLNG terminals and to transport toend-users.

Marketing LNG ships“Together with a team of special-ist from the Group's SPT company

and using one of our Multigas car-riers, we performed a gas-up andcool-down operation for a conven-tional LNG carrier at sea, makingit ready to load LNG without occu-pying expensive time at the load-ing terminal.”

The Company also commenceda short term contract for coastaldistribution of LNG in China.

Skaugen is engaged in ad-vanced discussions regardinglonger term time charter con-tracts for LNG transport, with afleet of 6 LNG-capable vessels now available. !

Evergas is already building aplanned fleet of eight small multi-gas carriers to transport the firsttransatlantic ethane cargoes forIneos, a Swiss-headquartered pro-ducer of chemicals.

The ethane shipments from theUS are for Ineos’s manufacturingsites in Grangemouth, UK andRafnes, Norway. US ethane is ex-pected to be more economicalfeedstock for petrochemicals re-fining than North-Sea sourced sup-plies.

Evergas in November had se-cured additional charters withIneos for up to 15 years andbooked two multigas newbuildingsfor a total of eight ships beingbuilt for delivery in 2015-2016,Lloyds List reported.

The operator says these dual-fuelled multi-gas tankers areamong the most advanced multi-gas carriers ever built, capable oftransporting are reliquefingethane, LNG, LPG as well aspetrochemical gases.

Range Resources supplyIneos Europe in 2012 secured

supplies of ethane. Its supplyagreements with US seller RangeResources will come from Sunoco’srecently converted Marcus HookFacility in Pennsylvania scheduledto start processing natural gas liq-uids this year.

Ineos also has agreements withUS petrochemical company Sunocofor Pipeline Transportation Serv-ices and Terminal Services Agree-ments for shipping of ethane from

Houston to Marcus Hook.Ineos is building a new ethane

tank at Rafnes in Norway, ex-pected to be commissioned in2015.

“The ethane imported from

the US will allow Ineos to enhancethe competitiveness of its businessin world markets and as a conse-quence, secure the long term fu-ture of its sites in Europe,” thechemicals company said. !

Evergas books small-scale multi-gas pair

" NEWS LNG Shipping News 19 February 20152

Denmark-based Evergas, with a fleet of LNG-multigas ships, ordered two 27,000 cubic metres LNG/ethane carriers worth $135 million at the Chinese yard Yangzjiang Shipbuilding to be delivered in the first half of 2017,according to Turkish shipbroker Golden Destiny.

LNG Shipping News2nd Floor, 2-5 Benjamin StreetLondon EC1M 5QLUnited Kingdom www.lngjournal.comTel: +44 (0)20 7017 3404

PublisherStuart Fryer

EditorCristina Brooks+44 (0)20 7017 3404general@lngjournal.com

Ad sales enquiriesNarges Jodeyri+44 (0)207 017 3406narges@lngjournal.com

EventsNatasha WedlockTel: +44 (0) 7017 3404natasha@lngjournal.com

SubscriptionsElena FuertesTel: +44 (0) 20 7253 2700elena@lngjournal.comSubscription included withLNG Journal

ProductionVivian CheeTel: +44 (0) 20 8995 5540chee@btconnect.comNo part of this publication may be reproducedor stored in any form by any mechanical,electronic, photocopying, recording or anyother means without the prior written consentof the publisher. Whilst the information andarticles in LNG Shipping News are published ingood faith and every effort is made to checkaccuracy, readers should verify facts andstatements direct with official sources beforeacting on them as the publisher can accept noresponsibility in this respect. Any opinionsexpressed in this publication should not beconstrued as those of the publisher.”

10,000 cubic metre LNG/LPG/Ethgas carrier Norgas Innovation.Source: norgas.

Wärtsilä supplied a cargo handling package and dual-fuel engines forDragon 27500 series vessels.

Skaugen SE banks on small LNG, transfersNorwegian group Skaugen SE, with a multigas fleet of 15 ships in its Norgas shipping company, highlighted theEuropean small scale niche in a recent refinancing proposal. It said “the current order book for similar sized vessels for LNG and liquefied gas transportation is virtually zero.”

Starting in 2015 Statoil will besupplying an annual volume of 540 million cubic meters of natu-ral gas, or 950,000 cubic meters of LNG to the terminal, which wassupposed to begin operating onJanuary 1 2015. The supply is des-tined for LNG terminal operationsand will also be used to developnew activities.

The supply is for gas supplierLitgas, part of state-owned Lietu-vos Energija energy companygroup in Lithuania, operator ofKlaipėda LNG terminal, which in-corporates the Höegh LNG-ownedFSRU “Independence”.

Litgas and Statoil also plan toagree on the form of an LNGbunkering cooperation within thesecond quarter this year, Litgastold Reuters.

Klaipėda LNG is the only termi-nal of its size in the Baltic Sea ca-pable of reloading LNG to smallerLNG bunkering vessels, such asbunkering ferries, containerships

and other LNG propelled vessels,as well as supplying gas to indus-trial customers in smaller quanti-ties, Litgas said.

The contract also covers possi-bilities of LNG reloading, repre-senting a new type of LNGdistribution activity in the BalticSea region.

Decoupled LNG supplyStatoil will supply LNG to Lithua-nia on prices linked to the value ofthe NBP index, Great Britain’s nat-ural gas exchange.

“This type of pricing is new toLithuania and this means that the

price of natural gas supplied byLitgas will depend on changes inthe supply and demand for naturalgas, including LNG on the interna-tional markets as well as seasonaltemperature fluctuations,” saidDominykas Tučkus, general man-ager of UAB LITGAS.

“Linking to natural gas indices isa common practice in North West-ern Europe which makes it possibleto abandon the indexation of natu-ral gas prices to oil prices whichdominates in Eastern Europe andoften results in natural gas pricesthat have no relation to the onesprevailing in the rest of Europe.” !

19 February 2015 LNG Shipping News NEWS " 3Litgas and Statoil make Baltic bunkering plansNorwegian state oil company Statoil has agreed to supply Litgas, a subsidiary ofstate-controlled energy holding company in Lithuania to supply LNG with the possi-bility of reloading LNG in the Baltic Sea region.

NEWSNUDGE Exmar wins FrenchLNG bunker bidThe Port of Dunkirk has an-nounced the winners of a callfor expressions of interest forthe marine bunkering and on-shore supply chain of smallscale LNG. The proposal sub-mitted by a consortium ofFrench LNG terminal beingbuilt by EDF, Dunkerque LNG,gas equipment supplier Air Liq-uide, and Belgian shippingcompany Exmar was selectedas the winner. An agreementwill now be drawn up andfunding requested through theEU TEN-E scheme.

12 tankers idle in SingaporeAs a result of low spot ratesand a dip in Asian LNG de-mand, many LNG tankers arenow unemployed with an ex-pectation of low charter rates,a report from Reuters foundlast week. Brokers said asmuch as 10% of the globalfleet of 400 LNG carriers wasnow unemployed. ShipbrokerClarkson is reporting a 30%drop in LNG charter ratesyear-on-year from $90,000 in2013 to $60,00.

Bomb scare atLithuanian FSRUA hoax bomb threat inter-rupted feed gas supply fromthe FSRU chartered byLithuanian utility KlaipedosNafta “Independence” onWednesday, January 21 re-ported World Maritime News.Klaipedos Nafta SpokeswomanIndre Miliniene reportedly saida woman had called and said:“There is a bomb under the In-dependence.” The specialforces teams determinedwithin several hours of testingthat the threat was a hoax. !

The company announced on Feb-ruary 2 it had received a $22.5million senior secured loan fromTexas Capital Bank for an LNG fueltrain: The plant will have fivetrains. The loan completes the fi-nancing of the company’s first liq-uefaction train at its MidlothianLNG Production Platform.

Applied LNG began construc-tion in November on its Midlothian

plant, with storage facilities forup to 1.5 million gallons. Each liq-uefier will produce up to 86,000gallons of LNG per day.

"The natural gas industry inTexas is growing rapidly and pro-duction and storage facilities arevital to further industry advance-ment," said Cem Hacioglu, presi-dent and CEO of Applied LNG."Midlothian is a perfect location to

build our first production platformin Texas."

Landed distributionnetworkThe company will be capable oftransporting LNG across the coun-try, including by rail, as well as forinternational export.

Applied LNG operates a distri-bution network with retail centresacross the West: It includes 49LNG trailers and 10 mobile fuellingunits, and a distribution and logis-tics Center in Fontana, California.Current retail stations are locatedin Barstow and Ontario, California.

Penn Energy reported that thedemand for LNG-as-fuel for indus-try is great in Texas because ofregional shale drilling and oil production. !

Small scale supplier Applied LNG wins loanApplied LNG, the American operator of a small-scale liquefaction plant in Topock,Arizona which is building a similar facility in Midlothian, Texas, will use the newloan to increase supply for the growing market for LNG-as-fuel for US transport, industrial, and municipal use.

The terminal incorporates Höegh LNG’s FSRU “Independence”.

Source: Applied LNG

" NEWS LNG Shipping News 19 February 20154

British Columbia-based SeaspanFerries has chosen BV class for twohybrid LNG-diesel-battery-pow-ered cargo ferries which will bebuilt at the Sedef yard in Turkey.

Quebec-based Transport Des-gagnes, meanwhile, has chosen BVclass for two 14,000 dwt gas-fu-elled asphalt-product tankers tobe built at the Turkish Besiktasyard.

"BV really knows LNG. We haveextensive experience of handlingLNG and using LNG as a fuel withour gas carrier fleet," said PhilippeDonche-Gay, Executive Vice-Presi-dent and Managing Director of theMarine & Offshore Division of BV.

"We have extensive experienceof handling LNG and using LNG asa fuel with our gas carrier fleet.

"Our ability to deploy that ex-pertise for the benefit of ship-yards and owners who are both

breaking new ground was crucialto these owners entrusting BVwith the classification of thesevessels," Donche-Gay added.

"Now that International Mar-itime Organization has updatedand adopted the InternationalCode of Safety for Ships usingGases or other Low flashpointFuels (IGF Code), the regulatoryworries which were holding backowners have been removed andthere are a host of new gas-fuelprojects about to start as ownerstake advantage of this clean andeconomical fuel," he said.

"BV's expertise in risk assess-ment complements its experiencewith gas carriers, which is why weare the class of choice for innova-tive gas-fuel projects.

"We are currently engaged ingas-fuel conversion or newbuildingprojects involving chemical

tankers, small-scale LNG tankers,LNG bunker tankers, cargo andpassenger ferries, product tankersand tugs, and we expect to an-nounce more in the near future,"Donche-Gay added.

The 148.9-metre Seaspan fer-ries are due for delivery in 2016and will operate on Canada's westcoast, carrying up to 59 trailers atspeeds of up to 16 knots propelledby azimuthing drives, BV said.

"Twin dual-fuel W9L 34DF gen-erators will be able to burn LNGfrom one single 200 cubic metres

capacity Type C tank below themain deck and there will be a hy-brid battery pack power supply forgenerating zero emissions energyat quay or during manoeuvring andfor any low-load operation," BVexplained.

"The Transport Desgagnestankers will have two 300 CbmType C LNG tanks on the deckpowering the dual-fuel ME 5RTFlex 50 DF main engine and two6L20DF engines and one 8L20DFauxiliary engine and two 3000 kWboilers," it added. !

Bureau Veritas classing Canadian LNG-fuelled ferriesBureau Veritas, the France-based classification society, said its marine division would be classing two LNG-fuelled vessels to be built for Canadian owners in Turkish shipyards.

E N G I N E E R I N G P L A S T I C S O L U T I O N S

INCREASE PERFORMANCE, SAFETY & EFFICIENCY OF MOORING OPERATIONS

! www.nylacast.com" offshore@nylacast.com

Utilized worldwide on FPSOs, LNG carriers and vessels, the Nylacast low friction chock liner is proven to eliminate corrosion, wear and maintenance needs for HMPE mooring lines and chocks. Resulting in increased safety for personnel, lifetime of high investment ropes and better equalization of mooring line loads. Nylacast Chock Liners are custom manufactured and can be easily fitted to new and existing vessels with no hot work required.

Source: BV

Public and private bodies haveunited in the National LNG SafetyProgramme, launched in 2013.

The Dutch government’s Na-tional LNG Safety Programme is agovernment initiative in collabora-tion with LNG industry playersTNO, NEN, Vopak, Gasunie, Shell,GDZ Suez, Rolande, and RIVM.

The Programme is financed bythe Ministry of Infrastructure andthe Environment, the Ministry ofEconomic Affairs, the Ministry of

Security and Justice, and the cor-porate sector. It includes theworking groups of the NationalLNG Platform.

This latest safety deal is partof Lower House Safety deals aspart of the Program for Sustain-able Safety record.

“The goal of the program istherefore to come through knowl-edge to appropriate regulations.For example, about the authoriza-tion of use and storage of LNG bytanker and bunker stations,” theDutch government said.

Working groupsThe National LNG Platform com-prises five working groups: Safety,toad transport, shipping, strategicenvironmental management, andBio-LNG.

The working groups are devel-

oping bunkering barge-relatedsuggestions for the Dutch govern-ment’s Hazardous Substances Pub-lication Series (PGS). The state'sPGS-33 described how LNG fillingstations should be equipped.

The Ministry of Infrastructureand the Environment is also devel-oping a LNG Interim Policy for External Security'. The workinggroups are assisting authoriresoverseeing a permitting processfor LNG tank and bunker stations,such as the Association of Provin-cial Authorities (IPO), the Associa-tion of Dutch Municipalities (VNG)and the Institute for Safety (IFV).The will look to harmonise Dutchreulgations with other Europeancountries, so that internationaltransportation can be operatedproperly and develop training facilites. !

19 February 2015 LNG Shipping News NEWS " 5

Shell’s wholly owned and operatedLNG bunker ship will be based atthe port of Rotterdam in theNetherlands, with sea-going capa-bilities to deliver gas to LNG fu-elled vessels in waters ofNorthwest Europe.

The LNG bunker ship will loadfrom the Gate break bulk terminalin the Netherlands under construc-tion that allows easier LNG loadingfor LNG bunker ships. Shell wasfoundation customer for the breakbulk facility last July.

Shell has specified the ship de-sign for maneuverability, effi-ciency and versatility, with loadingcapabilities at large and small ter-minals. “This specialised LNGbunker vessel is a pioneering newdesign,” said Dr Grahaeme Hen-derson, vice president of Shell

Shipping and Maritime. The design was developed with

different vessel markets in mind,Shell said: “We worked closelywith our customers on the specifi-cations of this exciting newbunker vessel and will use cutting-edge technology. Shell is proud tobe leading in the development ofLNG fuel in shipping.

Engine specsThe order was for three 8-cylinderWärtsilä 20DF dual-fuel engines.The technology enables the engineto be operated on either naturalgas, light fuel oil (LFO), or heavyfuel oil (HFO). The engines are de-signed to switch between fuelsduring operation, without loss ofpower or speed, able to providethe same output regardless of the

fuel used.Wärtsilä, which provides tech-

nologies throughout the LNG sup-ply chain including a terminal,anticipates LNG will be a futurefuel for shipowners looking to at-tain compliance with both the newand anticipated future IMO envi-ronmental regulations. !

Shell picks Wärtsilä engines for LNG bunker shipShell ordered three Wärtsilä dual-fuel engines for the 6,500-cubic metres capacityLNG bunker vessel under construction at Korean shipyard STX Offshore. Theengines are scheduled for delivery to STX in South Korea in spring 2016 and thebunker ship will be delivered afterward.

Source: Wärtsilä

source: Rijksoverheid

Dutch ministry developing LNG fuel safety laws State Secretary for Infrastructure and the Environment Wilma Mansveld in theNetherlands signed an LNG safety deal on February 10. The deal targets safety forLNG-fuelled barges and trucks, underscoring the importance of the LNG fuel marketin the Netherlands.

LNG trading and shipping software offeredA type of software that aims tooptimise the LNG supply chain isbeing launched at Global LNGCongress in Singapore this week.

The product is a venture ofIndian Wipro, New York-head-quartered OpenLink and Boston-based Veson Nautical.

RapidLNG specifically supportsLNG planning, shipping and trad-ing requirements for traders,schedulers and others involvedwith the buying, storing, or re-gasification of LNG for local mar-ket distribution, a joint statementfrom the three partners said.

RapidLNG helps users managerisk and profit and loss reportingacross LNG assets in real-time,including maritime transportationas well as physical and papertrades, the companies said.

The partnership aims to serveLNG companies from upstreamgas production to consumer mar-ket. Customers can automateLNG-specific bunker calculations,like Boil-off/FOE Conversion, en-abling their shipping operationsto generate accurate voyageprofit and loss statements andincrease operational efficiency.

The solution facilitates seam-less data transfer throughout theentire LNG value chain and im-proves decision making throughaccurate reporting and greatervisibility into costs across the or-ganisation, it said.

Subbi Lakshmanan, Vice Pres-ident and Domain Head, Energy,Natural Resources & Utilities(ENU), Wipro Ltd, said, "Wipro'sCTRM (Commodity Trading andRisk Management) Practice hascommitted significant resourcesalong with our partners Open-Link and Veson Nautical in devel-oping RapidLNG and we are veryhappy with the outcome."

The solution aims to addressthe volatile and dynamic de-mand and supply scenario in theLNG business and will offermuch needed agility to produc-ers and consumers in the LNGsupply chain. !

19 February 2015 LNG Shipping News NEWS " 7Golar Ice Samsung TZ Mk. III DFDE 160000 Q4-14 Golar LNG 2048 WilhelmsenGolarLNG Venus Mitsubishi H.I. Moss STRH 153000 Q4-14 Osaka Gas Mitsui OSK / 2295 MOL(Osaka Gas NB-1) Osaka GasEsshu Maru Mitsubishi H.I. Moss STRH 153000 Q4-14 Chubu Electric MC/CE/MOL 4:4:2 2298 NYK(Chubu NB-3)Gaslog Saratoga Samsung TZ Mk. III DFDE 155000 Q4-14 Gaslog 2043 CERESGolar Snow Samsung TZ Mk. III DFDE 160000 Q4-14 Golar LNG 2047 WilhelmsenGolarGolar Eskimo Samsung TZ Mk. III DFDE 160000 Q4-14 Jordan FSRU Golar LNG 2024 WilhelmsenGolarBW Pavilion Venda Hyundai Heavy TZ Mk. III DFDE 161880 Q1-15 BW Gas 2571 BWClean Horizon Hyundai Heavy TZ Mk. III DFDE 162000 Q1-15 Dynagas 2566 DynagasPapua Hudong Membrane SSD 170000 Q1-15 PNG / Gorgon Mitsui OSK H1670A MOLAsia Excellence Samsung TZ Mk. III DFDE 160000 Q1-15 Chevron Portfolio Chevron 1941 Chevron ShippingBW Malacca (NB-2) Hyundai Heavy TZ Mk. III DFDE 161880 Q1-15 BW Gas 2572 BWGaslog Salem Samsung TZ Mk. III DFDE 155000 Q1-15 Gaslog 2044 CERESHoegh NB-4 FSRU Hyundai Heavy TZ Mk. III DFDE 170000 Q1-15 Høegh LNG 2251 Høegh LNGClean Vision Hyundai Heavy TZ Mk. III DFDE 162000 Q2-15 Dynagas 2567 DynagasMaran Gas Mistras DSME GT NO 96 DFDE 159400 Q2-15 BG Portfolio MaranGas 2405 Anangel Maran Gas Sparta Hyundai Samho TZ Mk. III DFDE 164000 Q2-15 BG Portfolio MaranGas S626 Anangel Osaka Gas NB-2 Mitsubishi H.I. Moss STRH 153000 Q2-15 Osaka Gas Mitsui OSK / Osaka Gas 2296 MOLOsaka Gas NB-3 Mitsubishi H.I. Moss STRH 153000 Q2-15 Osaka Gas Mitsui OSK / Osaka Gas 2311 MOL

/ KyushuSCF Mitre STX O&S GT NO 96 DFDE 170200 Q1-15 Shell Portfolio Sovcomflot 1913 SovcomflotGolar Kelvin Hyundai Samho TZ Mk. III DFDE 162000 Q2-15 Golar LNG S659 WilhelmsenGolarCool Explorer Samsung TZ Mk. III DFDE 160000 Q2-15 Thenamaris 2049 Bernard SchulteSouthern Cross Hudong Membrane SSD 170000 Q2-15 PNG / Gorgon Mitsui OSK H1671A MOL(MOL PNG NB-2)Brunei NB-2 Hyundai Heavy TZ Mk. III DFDE 154800 Q2-15 Brunei Fleet Brunei Gas Carriers 2607 STASCOMaran Gas Lindos DSME GT NO 96 DFDE 159400 Q2-15 BG Portfolio MaranGas 2292 Anangel Petronas FLNG NB DSME GT NO 96 FLNG 180000 Q2-15 Petronas FLNG Petronas 6302 TBDAsia Endeavour Samsung TZ Mk. III DFDE 160000 Q2-15 Chevron Portfolio Chevron 1942 Chevron Shipping(Chevron NB-4)Maran Gas Alexandria Hyundai Samho TZ Mk. III DFDE 164000 Q3-15 BG Portfolio MaranGas S627 Anangel Maran NB-13 Hyundai Samho TZ Mk. III DFDE 164000 Q3-15 BG Portfolio MaranGas S688 Anangel Maran Gas Troy DSME GT NO 96 DFDE 159400 Q3-15 BG Portfolio MaranGas 2406 Anangel SCF Melampus STX O&S GT NO 96 DFDE 170200 Q2-15 Shell Portfolio Sovcomflot 1912 SovcomflotBW Gas NB-3 FSRU Samsung TZ Mk. III DFDE 170000 Q4-15 BW Gas 2074 BW GasEnergy Atlantic NB-1 STX O&S GT NO 96 DFDE 160000 Q4-15 TBN (x-Alpha) 1670 TBDLNG Bonny (NLNG NB-1)Samsung TZ Mk. III DFDE 170000 Q4-15 Nigeria LNG Bonny Gas Transport 2636 BGTMaran NB-12 Hyundai Samho TZ Mk. III DFDE 164000 Q4-15 BG Portfolio MaranGas S689 Anangel Beidou Star Hudong Membrane SSD 170000 Q4-15 PNG / Gorgon Mitsui OSK H1672A MOL(MOL PNG NB-3)Golar Tundra Samsung TZ Mk. III DFDE 170000 Q4-15 Gas Atacama FSRU Golar LNG 2056 WilhelmsenGolarChubu NB-3 Kawasaki Moss DFDE 164700 Q4-15 Chubu Electric K-Line 1713 K-LineLNG Lagos (NLNG NB-2)Hyundai Heavy TZ Mk. III DFDE 170000 Q4-15 Nigeria LNG Bonny Gas Transport 2637 BGTNLNG NB-3 Samsung TZ Mk. III DFDE 170000 Q4-15 Nigeria LNG Bonny Gas Transport 2077 BGTChevron NB-5 Samsung TZ Mk. III DFDE 160000 Q1-16 Chevron Portfolio Chevron 2069 Chevron ShippingShell NB-1 Samsung TZ Mk. III FLNG 225000 Q1-16 Shell FLNG Shell 2030 STASCOSinopec NB-1 Hudong Membrane DFDE 174000 Q1-16 APLNG China Shipping Group H1715A TBD

/ Mitsui OSKMaria Energy Hyundai Heavy TZ Mk. III DFDE 170000 Q1-16 Tsakos 2612 TBDNLNG NB-4 Samsung TZ Mk. III DFDE 170000 Q1-16 Nigeria LNG Bonny Gas Transport 2078 BGTMaran NB-14 Hyundai Samho TZ Mk. III DFDE 173000 Q1-16 BG Portfolio MaranGas S690 Anangel MOL PNG NB-4 Hudong Membrane SSD 170000 Q1-16 PNG / Gorgon Mitsui OSK H1673A MOLTeekay NB-1 DSME GT NO 96 MEGI 173400 Q1-16 Cheniere Teekay LNG 2407 Teekay LNGNLNG NB-5 Hyundai Heavy TZ Mk. III DFDE 170000 Q2-16 Nigeria LNG Bonny Gas Transport 2637 BGTChubu NB-4 Kawasaki Moss DFDE 164000 Q2-16 0 K-line 1720 K-LineSovcomflot NB 1 DSME GT NO 96 TFDE - Azipod 172410 Q2-16 Yamal LNG Sovcomflot 0 SovcomflotChevron NB-6 Samsung TZ Mk. III DFDE 160000 Q2-16 Chevron Portfolio Chevron 2070 Chevron ShippingKansai NB-1 Kawasaki Moss DFDE 164700 Q2-16 Kansai Kansai / NYK 1712 NYKNLNG NB-6 Samsung TZ Mk. III DFDE 170000 Q2-16 Nigeria LNG Bonny Gas Transport 2079 BGTSinopec NB-2 Hudong Membrane DFDE 174000 Q2-16 APLNG China Shipping Group H1716A TBD

/ Mitsui OSKTeekay NB-2 DSME GT NO 96 MEGI 173400 Q2-16 Cheniere Teekay LNG 2408 Teekay LNGGaslog NB 2073 Samsung TZ Mk. III DFDE 173400 Q3-16 BG Portfolio Gaslog 2073 CERESMaran NB-16 DSME GT NO 96 DFDE 170000 Q3-16 BG Portfolio MaranGas 2412 Anangel Teekay NB-4 DSME GT NO 96 MEGI 173400 Q3-16 Teekay LNG 2417 Teekay LNGTeekay NB-3 DSME GT NO 96 MEGI 173400 Q3-16 Teekay LNG 2416 Teekay LNGGaslog NB 2072 Samsung TZ Mk. III DFDE 173400 Q3-16 BG Portfolio Gaslog 2072 CERESMaran NB-15 Hyundai Samho TZ Mk. III DFDE 173000 Q3-16 BG Portfolio MaranGas S691 Anangel Uruguay FSRU DSME GT NO 96 DFDE 263000 Q3-16 Uruguay FSRU Mitsui OSK TBN MOLKnutsen OAS 1 Hyundai Heavy TZ Mk. III MEGI 176000 Q3-16 Gas Natural KOAS 2733 0Ichtys NB-1 Kawasaki Moss DFDE 182000 Q4-16 Ichtys LNG K-Line 1718 K-LineInpex NB-3 Mitsubishi H.I. Moss STRH 164000 Q4-16 0 K-line 1729 K-LineMaran NB-17 DSME GT NO 96 DFDE 170000 Q4-16 BG Portfolio MaranGas 2413 Anangel BW Gas NB-4 FSRU Samsung TZ Mk. III DFDE 170000 Q4-16 BW Gas 2118 BWPetronas NB-2 Hyundai Heavy Moss STRH 150000 Q4-16 Petronas Fleet Petronas 2730 MISCSinopec NB-3 Hudong Membrane DFDE 174000 Q4-16 APLNG China Shipping Group H1717A TBD

THE WORLD’S NEWEST LNG CARRIERSName Yard Design Prop. CBM Delivery Trade Route Ship Owner Hull Operator

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

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

" NEWS LNG Shipping News 19 February 20158/ Mitsui OSK

Petronas NB-1 Hyundai Heavy Moss STRH 150000 Q4-16 Petronas Fleet Petronas 2729 MISCSK Marubeni NB-1 Samsung TZ Mk. III DFDE 180000 Q4-16 Total Portfolio SK Shipping / Marubeni 2081 SK ShippingKnutsen OAS 2 Hyundai Heavy TZ Mk. III MEGI 176000 Q4-16 Gas Natural KOAS 2734 Knutsen OASGaslog NB 2102 Samsung TZ Mk. III DFDE 174000 Q1-17 BG Portfolio Gaslog 2102 CERESHyproc. NB1 Hyundai Heavy TZ Mk. III DFDE 170000 Q1-17 0 Hyproc 0 0Hyundai LNG Shipping DSME GT NO 96 DFDE 174000 Q1-17 0 Hyundai LNG Shipping 0 0NB1KLC NB1 DSME GT NO 96 DFDE 174000 Q1-17 0 Korea Line Corporation 0 0Petronas NB-3 Hyundai Heavy Moss STRH 150000 Q1-17 Petronas 2731 MISCSinopec NB-4 Hudong Membrane DFDE 174000 Q1-17 APLNG China Shipping Group H1718A TBD

/ Mitsui OSKSK Marubeni NB-2 Samsung TZ Mk. III DFDE 180000 Q1-17 Total Portfolio SK Shipping / Marubeni 2080 SK ShippingSK NB1 MEGI Samsung KC-1 DFDE 174000 Q1-17 0 SK Shipping 0 0Flex NB-1 Samsung TZ Mk. III DFDE 174000 Q1-17 Flex LNG 2107 TBDTeekay NB-5 DSME GT NO 96 MEGI 173400 Q1-17 Teekay LNG TBN Teekay LNGGaslog NB 2103 Samsung TZ Mk. III DFDE 174000 Q1-17 BG Portfolio Gaslog 2103 CERESHyproc. NB2 Hyundai Heavy TZ Mk. III DFDE 170000 Q1-17 0 Hyproc 0 0Hyundai LNG DSME GT NO 96 DFDE 174000 Q1-17 0 Hyundai LNG Shipping 0 0Shipping NB2KLC NB2 DSME GT NO 96 DFDE 174000 Q1-17 0 Korea Line Corporation 0 0SK NB2 MEGI Samsung KC-1 DFDE 174000 Q1-17 0 SK Shipping 0 0Hoegh NB-5 FSRU Hyundai Heavy TZ Mk. III DFDE 170000 Q1-17 Available Høegh LNG 2252 Høegh LNGFlex NB-2 Samsung TZ Mk. III DFDE 174000 Q1-17 Flex LNG 2108 TBDInpex NB-1 Mitsubishi H.I. Moss STRH 155300 Q2-17 Ichtys LNG K-Line / Inpex 2310 K-LineKansai NB-2 Mitsubishi H.I. Moss STRH 155300 Q2-17 Kansai Kansai / Mitsui OSK 2299 MOLTeekay NB1 Hudong GT No 96 DFDE 174000 Q2-17 0 Teekay/CETS/CLNG 0 TeekayTokyo Gas | MOL NB-1 JMU IHI SPB DFDE 165000 Q2-17 0 MOL/NYK 5070 MOL/NYKJF NB 1 DSME GT NO 96 MEGI 172400 Q2-17 John Fredriksen 0 0BG - Teekay NB2 Hudong GT No 96 DFDE 174000 Q2-17 0 Teekay/CETS/CLNG 0 TeekayMOL - CSDC NB 1 2424 DSME GT NO 96 TFDE - Azipod 172410 Q4-17 Yamal LNG MOL/CSDC 2424 MOLSinopec NB-5 Hudong Membrane DFDE 174000 Q2-17 APLNG China Shipping Group H1719A TBD

/ Mitsui OSKSovcomflot NB 2 DSME GT NO 96 TFDE- Azipod 172410 Q2-17 Yamal LNG Sovcomflot 0 SovcomflotTeekay - CLNG DSME GT NO 96 TFDE - Azipod 172410 Q4-17 Yamal LNG Teekay/CLNG 2423 Teekay LNGNB1 2423Inpex NB-2 Mitsubishi H.I. Moss STRH 153000 Q3-17 0 K-line 1728 K-LineBG - Teekay NB3 Hudong GT No 96 DFDE 174000 Q3-17 0 Teekay/CETS/CLNG/BW 0 TeekayJF NB 2 DSME GT NO 96 MEGI 172400 Q3-17 John Fredriksen 0 0Tokyo Gas | NYK NB-2 JMU IHI SPB DFDE 165000 Q3-17 0 MOL/ NYK 5071 MOL/NYKElcano 1 Imabari TZ Mk. III MEGI 178000 Q3-17 Gas Natural Elcano TBN ElcanoGaslog NB 2130 Samsung TZ Mk. III MEGI 174000 Q3-17 GasLog 2130 CERESGaslog NB 2800 Hyundai Heavy TZ Mk. III MEGI 174000 Q3-17 GasLog 2800 CERESPetronas NB-4 Hyundai Heavy Moss STRH 150000 Q3-17 Petronas 2732 MISCSinopec NB-6 Hudong Membrane DFDE 174000 Q4-17 APLNG China Shipping Group H1720A TBD

/ Mitsui OSKElcano 2 Imabari TZ Mk. III MEGI 178000 Q4-17 Gas Natural Elcaon TBN ElcanoBG - Teekay NB4 Hudong GT No 96 DFDE 174000 Q4-17 0 Teekay/CETS/CLNG/BW 0 TeekayBW NB 1 DSME GT NO 96 MEGI 173000 Q4-17 BW Gas 0 BW GasGaslog NB 2131 Samsung TZ Mk. III MEGI 174000 Q4-17 GasLog 2131 CERESMOL - CSDC NB 2 2426 DSME GT NO 96 TFDE - Azipod 172410 Q3-17 Yamal LNG MOL/CSDC 2426 MOLSovcomflot NB 3 DSME GT NO 96 TFDE - Azipod 172410 Q4-17 Yamal LNG Sovcomflot 0 SovcomflotTeekay - CLNG NB2 DSME GT NO 96 TFDE - Azipod 172410 Q4-17 Yamal LNG Teekay/CLNG 2425 Teekay LNGBP NB1 MEGI DSME GT NO 96 MEGI 173400 Q1-18 0 BP 0 BP ShippingGaslog NB 2801 Hyundai Heavy TZ Mk. III MEGI 174000 Q1-18 GasLog 2801 CERESMitsui Cameron NB-1 Samsung TZ MK. III DFDE 174000 Q1-18 Cameron NYK 0 NYKMitsui Cameron-1 Mitsui Chiba Moss STRH 180000 Q1-18 0 MOL 0 MOLMitsui Cameron-2 Mitsui Chiba Moss STRH 180000 Q1-18 0 MOL 0 MOLMitsui NB-1 Kawasaki Moss DFDE 155000 Q1-18 Cameron MOL 2017 NYKBP NB2 MEGI DSME GT NO 96 MEGI 173400 Q1-18 0 BP 0 BP ShippingBP NB3 MEGI DSME GT NO 96 MEGI 173400 Q1-18 0 BP 0 BP ShippingBP NB4 MEGI DSME GT NO 96 MEGI 173400 Q1-18 0 BP 0 BP ShippingMitsui Cameron NB-2 Samsung TZ MK. III DFDE 174000 Q1-18 Cameron NYK 0 NYKBP NB5 MEGI DSME GT NO 96 MEGI 173400 Q2-18 0 BP 0 BP ShippingBW NB 2 DSME GT NO 96 MEGI 173000 Q2-18 BW Gas 0 BW GasMitsui NB-2 Kawasaki Moss DFDE 155000 Q2-18 Cameron MOL 2018 MOLMOL - CSDC NB 3 DSME GT NO 96 TFDE - Azipod 172410 Q2-18 Yamal LNG MOL/CSDC 2432 MOLTeekay - CLNG NB3 DSME GT NO 96 TFDE - Azipod 172410 Q2-18 Yamal LNG Teekay/CLNG 2430 Teekay LNGTEPCO NB-2 Mitsubishi H.I. Moss STRH 153000 Q2-18 0 NYK 2312 NYKTEPCO NB-3 Mitsubishi H.I. Moss STRH 153000 Q2-18 Ichtys LNG NYK 2313 NYKMitsui Cameron NB-3 Samsung TZ MK. III DFDE 174000 Q2-18 Cameron NYK 0 NYKSovcomflot NB 4 DSME GT NO 96 TFDE - Azipod 172410 Q2-18 Yamal LNG Sovcomflot 0 SovcomflotBP NB6 MEGI DSME GT NO 96 MEGI 173400 Q3-18 0 BP 0 BP ShippingSovcomflot NB 5 DSME GT NO 96 TFDE - Azipod 172410 Q3-18 Yamal LNG Sovcomflot 0 SovcomflotTeekay - CLNG NB4 DSME GT NO 96 TFDE - Azipod 172410 Q3-18 Yamal LNG Teekay/CLNG 2431 Teekay LNGSovcomflot NB 6 DSME GT NO 96 TFDE - Azipod 172410 Q4-18 Yamal LNG Sovcomflot 0 SovcomflotTeekay - CLNG NB5 DSME GT NO 96 TFDE - Azipod 172410 Q1-19 Yamal LNG Teekay/CLNG 2433 Teekay LNGTeekay - CLNG NB6 DSME GT NO 96 TFDE - Azipod 172410 Q1-19 Yamal LNG Teekay/CLNG 2423 Teekay LNG

Name Yard Design Prop. CBM Delivery Trade Route Ship Owner Hull Operator

19 February 2015 LNG Shipping News NEWS " 9

10 small carriers TBN?** 5000? LNG 2015 Bimantara GroupAkebono Maru 3,556 LNG 2011 Japan Yes Chuo KaiunAman Bintulu 18,928 LNG 1993 Malaysia - Japan Yes Perbadanan/NYKAman Hataka 18,800 LNG 1998 Malaysia - Japan Yes Perbadanan/NYKAman Sendai 18,928 LNG 1997 Malaysia - Japan Yes Perbadanan/NYKCETS TBN 30,000 LNG 2015 China Yes CETS (CNOOC)Coral Anthelia 6,500 LNG/Ethylene 2013 Anthony VederCoral Energy 15,600 LNG Ice Class 1A 2012 Northwest Europe/Baltics Yes Anthony VederCoral Methane 7,551 LNG/LPG/Ethylene 2009 Northwest Europe/Baltics Yes, sometimes Anthony VederCoralius 5,800 LNG Ice Class 1A Feb 2017 Northwest Europe/Baltics Yes, for Skangass Anthony VederDalian TBN 27,500 LNG March 2015 China Yes Dalian Inteh GroupEvergas TBN 27,500 LNG/Ethylene 2015 Markus Hook - Rafnes Ethane, for Ineos EvergasEvergas TBN 27,500 LNG/Ethylene 2015 Markus Hook - Rafnes Ethane, for Ineos EvergasEvergas TBN 27,500 LNG/Ethylene 2016 Markus Hook - Rafnes Ethane, for Ineos EvergasEvergas TBN 27,500 LNG/Ethylene 2016 Markus Hook - Rafnes Ethane, for Ineos EvergasEvergas TBN 27,500 LNG/Ethylene 2016 Markus Hook - Rafnes Ethane, for Ineos EvergasEvergas TBN 27,500 LNG/Ethylene 2016 Markus Hook - Rafnes Ethane, for Ineos EvergasEvergas TBN 27,500 LNG/Ethylene 2017 Markus Hook - Rafnes Ethane, for Ineos EvergasEvergas TBN 27,500 LNG/Ethylene 2017 Markus Hook - Rafnes Ethane, for Ineos EvergasJahre TBN** 6,200 LNG 2015? Norway Yes Donsotank/Jahre Marine ASJX Energy TBN 2,500 LNG 2013 Japan Yes JX EnergyKakurei Maru 2,536 LNG 2008 Japan Yes Hogaki ZosenKakuyu Maru 2,500 LNG 2013 Japan Yes Tsurumi SunmarineKayoh Maru 1,517 LNG 1988 Japan Yes DaiichiLNG Barge TBN 3,000 LNG Barge 2015 US Coast Yes LNG AmericaLNG bunker barge 1? 2,250 LNG 2015 China Yes Anhui Huaqiang Natural GasLNG bunker barge 2? 2,250 LNG 2015 China Yes Anhui Huaqiang Natural GasLNG bunker barge 3? 2,250 LNG 2015 China Yes Anhui Huaqiang Natural GasLNG Inland bunker** 800 LNG 2015 Germany Yes VekaLNG Prime 2,250 LNG Inland Barge 2016 Northwest Europe Yes Veka Deen LNGLNG-Oil combi** 2,000 LNG 2014? Germany Yes VekaNavigator TBN 35,000 Ethane/Ethylene April 2016 Markus Hood - Stenungsund Ethane, for Borealis NavigatorNavigator TBN 35,000 Ethane/Ethylene 2017 US Ethane NavigatorNavigator TBN 35,000 Ethane/Ethylene 2017 US Ethane NavigatorNavigator TBN 35,000 Ethane/Ethylene 2017 US Ethane NavigatorNorgas Bahrain Vision 12,000 LNG/LPG/Ethylene 2011 Worldwide No Norgas CarriersNorgas Conception 10,000 LNG/LPG/Ethylene 2011 Worldwide No Norgas CarriersNorgas Creation 10,000 LNG/LPG/Ethylene 2010 Worldwide No Norgas CarriersNorgas Innovation 10,000 LNG/LPG/Ethylene 2010 Worldwide No Norgas CarriersNorgas Invention 10,000 LNG/LPG/Ethylene 2011 Worldwide No Norgas CarriersNorgas TBN** 17,000 LNG/LPG/Ethylene 2015 Worldwide Norgas CarriersNorgas TBN** 17,000 LNG/LPG/Ethylene 2015 Worldwide Norgas CarriersNorgas Unikum 12,000 LNG/LPG/Ethylene 2011 Worldwide No Norgas CarriersNorth Pioneer 2,500 LNG 2005 Japan Yes Japan Liquid GasNYK Bunker barge TBN 5,100 LNG 2016 Northwest Europe Yes NYKOcean Yield TBN 36,000 Ethane/Ethylene 2016 US - Teeside Ethane, for Sabic Gaschem ServicesOcean Yield TBN 36,000 Ethane/Ethylene 2016 US - Teeside Ethane, for Sabic Gaschem ServicesOcean Yield TBN 36,000 Ethane/Ethylene 2016 US - Teeside Ethane, for Sabic Gaschem ServicesPetroChina TBN 30,000 LNG March 2015 China PetroChinaPioneer Knutsen 1,100 LNG 2003 Norway Yes KnutsenSeagas 187 LNG Barge 1974 Sweden Yes AGAShell Bunker Barge TBN 1 6,500 LNG Barge 2016 Northwest Europe Yes Anthony Veder? / Shell?Shell Bunker Barge TBN 2 6,500 LNG Barge 2016 Northwest Europe Yes Anthony Veder? / Shell?Shell Bunker Barge TBN 3 6,500 LNG Barge 2016 Northwest Europe Yes Anthony Veder? / Shell?Shell Bunker Barge TBN 4 3,000 LNG Barge 2016 Northwest Europe Yes Anthony Veder? / Shell?Shinju Maru No.1 2,540 LNG 2003 Japan Yes ShinwaShinju Maru No.2 2,540 LNG 2008 Japan Yes ShinwaShort Sea LNG Tanker ** 4,000 LNG 2014? Germany Yes VekaSun Arrows 19,531 LNG 2007 Malaysia - Russia - Japan Yes MitsuiSurya Aki 19,475 LNG 1996 Indonesia - Japan Yes MCGCSurya Satsuma 23,096 LNG 2000 Indonesia - Japan Yes MCGCTBN 14,000 LNG Aug 2015 China Yes Zhejiang HuaxiangTBN 1 27,500 LNG 2015 China? Danyang?TBN 2 27,500 LNG 2015 China? Danyang?TBN 3 27,500 LNG 2015 China? Danyang?Yuan He 1 30,000 LNG 2015 China Yes CSR

WORLD SMALL SCALE LNG FLEET*

Name CBM Cargo Type Built Trading area Trading in LNG? Ship Owner / Operator

For more information please visit http://small-lng.com*Includes multi-gas, ethylene and LNG bunker ships with 40,000 cubic metres LNG cargo capacity or lessTBN = To Be Nominated indicates ships are still at construction/planning stage** = project shelved ?=Data to be verified Data last updated = January 16, 2015