OLT OFFSHORE TOSCAN LNG: OLT reassures the plant safety and confirms the progress of the project.

In light of recent remarks by certain political parties regarding the level of safety of the FRSU plant, OLT would like to reiterate that the Livorno regasifier meets the highest safety standards.

The Regional Technical Commission, a collegial body charged with evaluating and approving the Final Security Report, will express an opinion on this subject in the coming weeks. The Security Report has been drafted, and will be approved, in accordance with Legislative Decree No. 334 of 17 August 1999, Seveso – Bis: Ratification of EU Directive 96/82/EC.

OLT confirms its willingness to respond to any remarks made by the Commission with the aim of ensuring the maximum level of safety at the plant.

Lastly, it should be noted that in November 2003 OLT received approval of the Preliminary Safety Report before commencing construction of the Terminal according to a procedure not unlike that underway, as required by the cited Legislative Decree.

As previously stated, many of the requests for clarification received over the past few days were already evaluated in the 2003 Preliminary Safety Report.

OLT would also like to take the opportunity to confirm that the infrastructure work aimed at linking to the national distribution network is nearing completion.

Finally, conversion work on the gas tanker Golar Frost – currently in progress at the Drydocks World shipyard in Dubai – has shown significant progress in recent weeks with the installation of the regasification module.

Today the FRSU Project is a tangible reality and soon it will be able to be transferred onsite, definitively installed and commissioned.