EPC Contract for Chiyoda Joint Venture

Chiyoda's joint venture of Chiyoda Corporation and Snamprogetti has been awarded a contract for engineering, procurement and construction of LNG Train 5 Plant Project, and other related facilities from Ras Laffan Liquefied Natural Gas Company Limited (II) (RasGas II: Qatar Petroleum 70% and Exxon Mobil 30%) in the State of Qatar.

This LNG Train 5 project will be built adjacent to the existing LNG Train 3 completed in December 2003, and Train 4 now being executed, both by the Joint Venture of Chiyoda and Snamprogetti. This project will utilize the natural gas resources from the world's largest non-associated gas reserve (900 TCF) in Qatar's North Field and produce 4.7 million tons per annum of LNG, the world largest single train capacity. LNG Train 5 will be completed by the end of 2006 and start delivering LNG cargoes in the first quarter of 2007.