Technip has signed with Qatar Liquefied Gas Company Limited (3) (“Qatargas 3”) and the sponsors of the Qatargas 4 Project (“Qatargas 4”) a contract for two of the world’s largest liquefied natural gas (“LNG”) trains. This contract will be executed by a joint venture created by Technip and Chiyoda. The value of the contract is around USD$ 4 billion.

Under this contract, the Technip/Chiyoda joint venture will carry out the engineering, procurement and construction of Trains 6 and 7 at the Qatargas plant in Ras Laffan City, adjacent to Trains 4 and 5 currently being executed by the Technip/Chiyoda joint venture within the framework of the contract signed with Qatargas II. Each train is designed to produce 7.8 million tonnes per annum (“MTPA”) of LNG.

Qatargas 3 (68.5% Qatar Petroleum; 30% ConocoPhillips; 1.5% Mitsui) owns Train 6 and will deliver LNG primarily to US markets commencing in 2009. Qatargas 4 (70% Qatar Petroleum; 30% Shell Gas B.V.) will own Train 7 and will deliver LNG to North American markets commencing around the end of the decade.

The Technip/Chiyoda joint venture has extensive experience in Qatar, including the successful Qatargas debottlenecking project as well as the award and execution of Qatargas II and RasGas (3) projects. With the signing of the contract with Qatargas 3 and Qatargas 4, the Technip/Chiyoda joint venture is now responsible for building the world’s six largest LNG trains, all of which are key to Qatar’s strategic plan to become the largest global LNG supplier.