Port of Bordeaux and 4Gas Plan Construction of LNG Terminal in Le Verdon Bordeaux, France

Bordeaux, France - The Port of Bordeaux announced today an agreement with 4Gas of the Netherlands which would allow the development of a new LNG import facility to be located in Le Verdon. The two companies signed an option agreement for a site located at the mouth of the La Gironde.

General Director of the Port of Bordeaux, Philippe Deiss, said, "We have been working for some years to attract LNG activities to le Verdon. We are pleased to welcome 4Gas as an important step in realizing our objective and improving energy supply to the region."

The Port of Bordeaux is amongst the largest ports in France and has already generated important energy projects. The Port already provides approximately 97% of the regional demand of petrol and gas. Due to its vast experience in the oil sector and its ability to take in large vessels, the Port of Bordeaux is an ideal location for an LNG import terminal.

4Gas CEO, Paul Q.J. van Poecke stated: "This development again demonstrates the global opportunities for 4Gas as an independent terminal developer and operator. Le Verdon is strategically located to serve the French and Iberian gas markets both of which are growing and are currently served by LNG."

4Gas will immediately commence extensive environmental, safety and engineering studies required for the permit application. The Port has agreed to renovate the existing jetty and work with 4Gas on all marine aspects. The construction of the terminal is proposed for 2008 with a start-up in 2011. The project would require an investment of approximately 400 million euros.

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About the Port of Bordeaux

The Port of Bordeaux is a maritime port located on the largest estuary in Europe. This gives it the advantage of being able to serve a vast region located over 100 km from the sea with maritime transport. Currently, the port handles over approximately 8.5 million tons of cargo each year. For more information about the independent Port of Bordeaux, please visit www.bordeaux-port.fr/

About 4Gas

Following Petroplus’ successful development of the Dragon LNG project in Milford Haven, Wales, its shareholders de-merged all LNG activities to establish a new company exclusively dedicated to LNG under the name 4Gas.

4Gas focuses on developing and operating LNG terminals around the world. The project in Le Verdon is 4Gas’ fourth LNG terminal project currently under development and the company’s third project in Europe, after Milford Haven, Wales, and Rotterdam, the Netherlands. The Dragon LNG terminal in Milford Haven is currently under construction and expected to become operational in 2007. The LionGas terminal in Rotterdam is the first LNG project in the Netherlands to successfully conclude the key stages of the Environmental Impact Assessment (EIA) procedure. The LionGas terminal is expected to come online in 2010. In Nova Scotia, Canada, an LNG terminal project is developed to serve both the U.S. and Canadian markets as of 2010. 4Gas has also established its presence in the Asian market with an office in Hong Kong, in addition to existing offices in the U.K. and the Netherlands.

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