Keppel Shipyard Pens Conditional Deal with Golar LNG for FLNGV Conversion

Keppel Corporation referred Wednesday to an announcement dated June 24 by Golar LNG Limited (Golar LNG) on the launch of the offering of its common stock and wish to confirm that Keppel Shipyard Ltd (Keppel Shipyard), a wholly-owned subsidiary of its unit Keppel Offshore & Marine Ltd, has signed a conditional contract with Golar Hilli Corporation, a subsidiary of Golar LNG, to perform the world’s first-of-its-type conversion of an existing Moss LNG carrier, the Hilli, into a Floating Liquefaction Vessel (FLNGV).

This contract will become effective upon the fulfilment of several conditions precedent, including the receipt by Keppel Shipyard of the initial milestone payment.

We will make a further announcement when the contract becomes effective.

The aforementioned contract is not expected to have any material impact on the earnings per share and net tangible asset per share of Keppel Corporation Limited for the current financial year.

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