New LNG Vessel to Serve Tractebel's Atlantic Basin Customers

Tuesday, June 17, 2003
Tractebel LNG North America LLC, operator of the United States' first LNG import terminal in Everett, Massachusetts, and Bergesen, based in Oslo, Norway, announced the launch of Berge Everett, a new 138,000 cubic meter liquefied natural gas (LNG) carrier that will begin making deliveries for Tractebel under an exclusive, long-term charter. Tractebel LNG North America ("TLNGNA") will use the vessel to transport LNG primarily from Trinidad to the company's Everett LNG receiving terminal, to the EcoElectrica facility in Puerto Rico, and to other LNG facilities in the Atlantic Basin. Constructed at the Daewoo Shipbuilding Yard in South Korea, the Berge Everett is 100% owned by Bergesen. "LNG is increasingly viewed as an important part of the energy supply mix in the United States and, with the addition of a new ship to our fleet of LNG carriers, we're more prepared than ever to address customers' growing demands for natural gas," said Richard L. Grant, president and CEO of TLNGNA. Bergesen CEO Svein Erik Amundsen said, "The Berge Everett further strengthens our position as a clear market leader in the larger gas carrier segments, and we look forward to continuing our collaboration with Tractebel." With the Berge Everett, Tractebel has expanded its LNG shipping portfolio to seven vessels that are either owned or under long-term charter. The Berge Everett is the second new vessel to join TLNGNA's dedicated fleet in the last 12 months. The first new vessel, Berge Boston, jointly owned by Bergesen (51%) and Distrigas S.A. (49%), entered service for TLNGNA in January of 2003 under a long-term charter agreement identical to that of the Berge Everett. TLNGNA also owns the 125,000 cubic meter carrier Matthew.

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