The Hilli Episeyo is the world’s first FLNG vessel developed as a conversion project from an LNG carrier. The transfers of LNG cargo from the Hilli Episeyo establish Cameroon as the world’s 20th LNG exporter and demonstrate FLNG’s growing advantage in moving natural gas supply to key markets. The primary contract for the FLNG vessel conversion was executed with Singapore's Keppel Shipyard Limited in July 2014. Keppel simultaneously entered into a sub-contract with Black & Veatch, which provided its licensed PRICO® technology, performed detailed engineering and process design, specified and procured topside equipment, and provided commissioning support for the FLNG vessel topsides and liquefaction process. Black & Veatch’s PRICO© technology uses a single-mixed refrigerant loop for natural gas liquefaction. That process provides several key benefits, including requiring minimal equipment and a compact process footprint that makes it ideal for offshore liquefaction. “The first dispatches of cargo prove that the concept of converting an LNG carrier to an LNG production platform is commercially viable,” said Bob Germinder, Black & Veatch Senior Vice President and Managing Director of Floating Oil & Gas Solutions. “These transfers are powerful confirmation that our technology provides clients with a major advantage in LNG production and shipment.” FLNG solutions are a cost-effective and rapid-delivery alternative to traditional onshore facilities, which is particularly crucial in natural gas’ current low-price environment. Commercial viability was named by survey respondents as the top driver for making FLNG investment decisions, followed by implementation costs, according to Black & Veatch’s most recent Strategic Directions: Natural Gas Industry Report. Cost and speed of delivery are top priorities for investors. Black & Veatch has grown its relationship with Golar since 2011, going from concept to front-end design to design and delivery of FLNG vessel conversions. Editor’s Notes: Black & Veatch has supported LNG infrastructure developments for more than 50 years, combining technology and know-how on LNG production, storage, regasification and send out facilities with seamless solutions for design, procurement, fabrication and construction. Black & Veatch recently delivered the regasification system for the world’s first barge-based FLNG regasification and storage unit. The barge-based floating storage and regasification unit (FSRU) was delivered in December 2017 from a shipyard in Nantong, China for global oil and gas shipper Exmar. Black & Veatch was recently named EPC Contractor of the Year, an award presented at the LNG USA Summit 2018 in Houston. The honor recognized the company’s advanced capabilities in executing complex projects and coincides with increasing investor interest in flexible, cost-effective LNG solutions that can more quickly move supply to end users. Media Contact Information: CHRISTOPHER CLARK | +1 913-458-2778 P | +1 816-674-0572 M | ClarkCA@bv.com 24-HOUR MEDIA HOTLINE | +1 866-496-9149 0 About Black & Veatch Black & Veatch is an employee-owned, global leader in building critical human infrastructure in Energy, Water, Telecommunications and Government Services. Since 1915, we have helped our clients improve the lives of people in over 100 countries through consulting, engineering, construction, operations and program management. Our revenues in 2017 were US$3.4 billion. Follow us on www.bv.com and in social media. Related Insights FLNG Solutions Prove To Be Much More Than Potential It was roughly a decade ago when the initial introduction of floating liquefied natural gas (FLNG) solutions sought to help bring uneconomic gas reserves offshore, such as those in remote locations, to the market. Over the past few years, however, we’ve watched as offshore FLNG capabilities have moved closer to the mainland, offering a very flexible and economical solution to operators looking to offload their supply around the world. Four Big Trends in Gas-to-Power Hold Promise for U.S. Market Major energy shifts are afoot, and the United States will play a critical role going forward. The EIA projects that by 2022, the U.S. will become a net energy exporter, according to its newly released Annual Energy Outlook 2018. For natural gas, this shift will happen even earlier, around 2020, the EIA says. Market Strives to Deliver Over Pipeline Challenges As if the persistent low-price environment wasn’t enough, rampant natural gas production in the Appalachian and Permian Basins is ramping up concern that pipeline take-away capacity can’t keep up. This comes as the United States natural gas industry prepares to enter one of its strongest growth periods to date, driven by increasing global demand for low cost natural gas supplies and growing domestic demand for cleaner energy sources. Southeast Asia’s Journey Toward a Cleaner Energy Future Strong economic growth, low gas prices and environmental goals are transforming natural gas demand in Southeast Asia. Liquefied Natural Gas Continues Growth Trajectory While Challenges Linger In the United States, it’s become somewhat of a modern gold rush: drillers racing to free deeply trapped natural gas to quench rising global demand, fueled by an accelerating migration away from coal and the desire for cleaner-burning, greener power options.