HHI Partners With EnerSea Transport

Thursday, June 27, 2002
EnerSea Transport LLC (EnerSea) and Hyundai Heavy Industries Co., Ltd. (HHI) are partnering together to complete vessel design and obtain 'class approval in principle' certification for EnerSea's breakthrough VOTRANS(TM) compressed natural gas (CNG) marine transport vessels. Upon completion of that process, HHI will build the first VOTRANS fleet of vessels for EnerSea's transport services projects. "The joining of forces between EnerSea and Hyundai is a defining moment in the commercialization of CNG marine transport," stated Paul Britton, EnerSea's Managing Director. "This alliance will bring together one of the world's premier shipbuilders with the industry's most advanced CNG technology. Yesterday's stranded gas is much closer to market today." Hyundai's D.Y. Han, Executive Vice President and Chief Marketing Officer for the Shipbuilding Division, said "This alliance is the culmination of several months of cooperation and discussions, and we are most pleased to be working with EnerSea. The CNG market has tremendous potential, and we look forward to contributing as part of the leading technology and team in this emerging industry. This alliance will support EnerSea's capability to execute large CNG projects."

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