Re Contract

RNS Number:5379E
Bergesen d.y. ASA
1 June 2001



BERGESEN EXPANDS ITS LNG-ACTIVITIES

In November 2000, Bergesen exercised an option to build a second LNG-carrier of
138.000 cbm at Daewoo Shipbuilding 81 Marine Engineering Co. Ltd, Korea, for
delivery in second quarter 2003. The contract price was about USD 155 million.


Bergesen has now concluded a minimum 20 year charter contract for the vessel
with Cabot LNG, LCC. The charterer has an option to extend the charter contract
by maximum 9 years. Bergesen has earlier concluded a charter contract with Cabot
LNG for its first LNG-newbuilding at Daewoo. Cabot LNG is a subsidiary of
Tractebel. Tractebel has guaranteed the obligations of Cabot LNG under the
charter contract.

Tractebel, a global energy and services business, is the energy arm of Suez.
Bergesen has offered Tractebel an option to participate with a 49% ownership
share in the vessel, i.e. the same ownership share as Tractebel has in
Bergesen's first LNG-newbuilding at Daewoo.

Bergesen has decided to exercise an option to build a third LNG-carrier of
138.000 cbm at Daewoo, for delivery in third quarter 2004. The contract price is
about USD 160 million. The vessel is of the same type as the first two vessels.

In connection with the contracting of the third vessel, Bergesen has obtained a
new option, to contract a fourth LNG-carrier at Daewoo, for delivery in 2005.

Altogether, Bergesen has contracted a series of three LNG-carriers at Daewoo,
with an option to contract a fourth vessel.

Oslo, 01 June 2001 
BERGESEN D.Y. ASA

Contact person: Svein Erik Amundsen, Managing Director, 
Telephone: + 47 22 12 05 13

Other information about Bergesen is available at: www.bergesen.no

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