Neptune wins approvals for first East Coast offshore LNG facility

Pipeline & Gas Journal, May, 2007

SUEZ Energy North America's subsidiary, Neptune LNG, announced that the Neptune offshore LNG facility has received its Deepwater Port License. Neptune is the first offshore LNG project on the East Coast of the U.S. to reach this milestone. The license will allow Neptune LNG LLC to build, own, and operate the Neptune offshore LNG delivery system in Massachusetts Bay.

The Maritime Administration is responsible for issuing a Deepwater Port License under the Deepwater Port Act of 1974.

SUEZ has received the firm commitment from Hoegh LNG AS, Mitsui O.S.K. Lines, Ltd. (MOL) and Samsung Heavy Industries that the two specially designed LNG Regasification Vessels (SRV) will be delivered at the targeted start-up date. The Neptune project is expected to fill a growing need in Massachusetts and New England for future natural gas demand that is expected to increase over the next two decades.

The Neptune project is being developed to provide between 11.3-21.2 million [m.sup.3] of natural gas per day - enough to serve 1.5-3 million homes daily.

Neptune LNG anticipates having a fully operational project--including construction of a lateral pipeline connection to HubLine, the existing sub-sea pipeline specially designed ships, and the LNG supply to serve customers in Massachusetts and the rest of New England--by 2009.