$700M LNG Timecharter Awarded

Maritime Activity Reports, Inc.

December 27, 2005

Petronet LNG Ltd (PLL) has awarded the $700 million time chartering contract for an LNG vessel to the Mitsui-led consortium of Shipping Corporation of India (SCI), NYK and SK Lines, according to a report on www.financialexpress.com. This 25-year contract is for carrying 2.5 million tonne per annum (mtpa) of LNG from RasGas of Qatar to PLL’s LNG re-gasification terminal at Dahej in Gujara.

Bids for the contract were opened on December 24 where the Mitsui-led consortium emerged as the lowest bidder, outbidding the Exmar Marine led consortium of Varun Shipping and another consortium of Teekay Shipping and GE Shipping.

(Source: www.financialexpress.com)

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