APL Receives Purchase Order for LNG Ship

Advanced Production and Loading (APL) has received a purchase order for the design, engineering and supply of a ship set for a Submerged Turret Loading System (STL) from Daewoo Shipbuilding & Marine Engineering (DSME). The value of the contract is approximately US $8 million.

This contract represents APL's fourth order for a ship set to a LNG regasification vessel (LNGRV) to DSME. The ownership structure for the vessel, LNGRV Explorer, will be a 50-50 participation between the Belgian ship-owner Exmar and US based Excelerate Energy. APL's final delivery will take place during Spring 2007.

The LNG regasification vessels are capable of regasifying their LNG cargoes onboard and delivering gas through a STL, to be piped ashore.

Excelerate Energy anticipates use of the vessel to deliver regasified LNG to its deepwater port Gulf Gateway in the Gulf of Mexico. In addition it will be used to support its application to construct a similar facility called the NorthEast Gateway in Massachusetts Bay, near Boston, New England.

Exmar and Excelerate Energy have also confirmed an option for a fifth LNGRV newbuilding at DSME. APL is currently in negotiations with this contract as well as further options with the shipyard.

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