[SHI-built 145,000㎥ FSRU delivered to Hoegh LNG in 2009]

◇ SHI won a newbuilding contract for a 170,000㎥ FSRU with Norway''s Hoegh LNG

 - Capacity with 70,000ton LNG storage, the contract comes with 3 optional vessels

◇ FSRU market expected to grow with cost advantage over onshore regasification facilities

 - 4-5 newbuild orders per year expected to 2020 with focus in developing countries

SHI has won an order to build a 170,000㎥ FSRU(Floating Storage and Regasification Unit) for Hoegh LNG in Norway.

FSRUs are vessel-like offshore facilities that can regas LNG on the water and supply to the onshore directly. The new FSRU has capacity to store and supply 70,000tons of LNG, roughly equals South Korea''s daily LNG usage. The newbuilding contract comes with option for three more.