Keppel Secures Contract for Qatargas LNG Carriers

Keppel Shipyard has entered an Alliance Service Agreement for the drydocking of a fleet of Moss Rosenburg type of Liquefied Natural Gas carriers chartered by Qatar Liquefied Gas Company Ltd.

The five-year agreement was signed with MO LNG Transport Co., Ltd (MOL), Nippon Yusen Kaisha Ltd (NYK) and Kawasaki Kisen Kaisha Ltd (K-Line).

The vessels under the fleet agreement are Al Zubarah, Al Khor, Al Rayyan, Al Wajbah, Broog, Zekreet, Al Wakrah, Doha, Al Bidda, and Al Jasra. Keppel Shipyard has been servicing this fleet of LNG carriers from Qatargas since 1999.

The scope of work involves drydocking for survey, maintenance and repair.

The first two vessels scheduled to call at Keppel Shipyard under this agreement are Al Wakrah (72,453 dwt) and Zekreet (72,316dwt) in early May this year. It is the third dry- docking in Keppel Shipyard for both vessels.

"There is a growing demand for natural gas worldwide, particularly in Asia and the US. Keppel Shipyard is well-positioned to support the growing LNG carriers market which is expected to treble by 2020," said Mr. Nelson Yeo, Executive Director, Keppel Shipyard.

Keppel Shipyard, a leading LNG/LPG shiprepair yard in Asia outside of Japan, As of February 2006, Keppel has carried out 71 LNG Carrier repairs since 1990. The company is a wholly-owned subsidiary of Singapore-listed Keppel Corporation through Keppel Offshore & Marine. The Group has a network of 17 yards worldwide including the Asia Pacific, Gulf of Mexico, Brazil, Caspian Sea, Kazakhstan, Middle East and the North Sea.

The contract is not expected to have material impact on the net tangible assets and earnings per share of Keppel Corporation for the financial year 2006.