Entering into Master Agreement and Generic FEED Contract for Floating LNG Facilities

On 29 July 2009, Samsung Heavy Ind. (“SHI”) and Technip of France signed a master agreement with Shell Gas & Power Development BV (“Shell”) for the design, construction and installation of multiple floating liquefied natural gas (FLNG) facilities over a period of up to fifteen years.

SHI - Technip and Shell also signed a contract for execution of the front end engineering and design (FEED) for Shell’s 3.5million tone per annum (mtpa) FLNG solution.