Awilco LNG

M&A Activity • Jul 1, 2015

Awilco LNG ASA - Sale of WilPower

Awilco LNG ASA - Sale of WilPower

PRESS RELEASE: NO. 1/2015

Place: Oslo, Norway

Date: 1 July 2015

Awilco LNG ASA (Awilco LNG or the Company) has on 1 July

2015 entered into an agreement (the Transaction) to sell

the 1983 built 125,000 cbm 2nd generation LNG carrier

WilPower (the Vessel). The agreement requires that the

identity of the buyer is not disclosed. WilPower has been

in cold lay-up since May 2013.

The delivery of the Vessel is according to the agreement

expected to take place within August 2015. Settlement of

the sales proceeds is due upon delivery of the Vessel. The

sale will contribute with an estimated loss of USD 3

million in Awilco LNG's 2015 financial results.

For further information please contact:

Jon Skule Storheill:

Chief Executive Officer

Telephone: (47) 22 01 42 09

Mobil: (47) 91 34 43 56

Snorre Krogstad

Chief Financial Officer

Telephone: (47) 22 01 42 49

Mobil: (47) 90 85 83 93