Jan. 2005

(Freeport, Texas) - ZCC, in joint venture with Technip and Saipem, has been awarded an EPC contract for Freeport LNG Development's new liquified natural gas receiving terminal. The Freeport LNG terminal, to be located in Quintana Island near Freeport, Texas, will have a capacity of 1.5 billion cubic feet per day.

There terminal is being developed in response to the growing need for new natural gas supplies for commercial, industrial and residential customers in Texas.

The lump-sum turnkey contract includes engineering, procurement, construction, pre-commissioning, commissioning and start up. The project is schedule for completion in 2008 and has already received the necessary Federal Energy Regulatory Commission approvals.

(Source: Technip press release)

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