Market Overview

Wison Offshore & Marine Awarded FEED Contract for a Floating Liquefaction Project from Western LNG LLC


Wison Offshore & Marine ("Wison") and Western LNG LLC ("Western")
announced today that they have entered into a Technical Service
Agreement ("TSA") in relation to a new floating liquefied natural gas
("LNG") project that Western is developing in British Columbia, Canada.
Pursuant to the TSA, Wison will develop the basis of design ("BOD") and
carry out front-end engineering design ("FEED") for the proposed FLNG to
be sited at the proposed facility. Western has also agreed to the
appointment of Wison as the EPC service provider for the floating
liquefaction plant upon project FID.

Under the terms of the TSA, Wison will provide a cost competitive FEED
package utilizing its experienced in-house design team and execution
methodology that has been optimized based on the successful delivery of
the Caribbean FLNG. The FEED is expected to be completed in less than 40
weeks after the BOD is finalized.

Western's initial project in British Columbia, Canada will bring
abundant, low-cost Canadian natural gas from the Montney, Horn River,
and other Western Sedimentary Basins to rapidly growing markets in
northeast Asia. The company's development activities are supported by
certain funds managed by affiliates of Apollo Global Management, LLC
(together with its consolidated subsidiaries, "Apollo") (NYSE:APO), a
large, internationally recognized global alternative investment manager
with more than $245 billion in assets under management. Award of the TSA
is a significant step towards commercialization of the project based on
joint studies by Western and Wison, who also expect to leverage this
high value solution for a number of additional FLNGs.

Last year, Wison Offshore & Marine successfully delivered the Caribbean
FLNG on an EPC basis after liquefaction performance testing for the
facility in its yard in China.

"Wison is a leader in providing floating LNG solutions with a proven
record of delivering low cost, high quality facilities," said Duane
Bertrand, the company's Vice President of Business Development in
Americas. "The strategic relationship with Western has been fostered in
recognition of our integrated capabilities from concept to delivery."

Mr. Ying CUI, CEO of Wison Offshore & Marine, commented, "Given the
challenging market condition, cost effectiveness and reliability of
liquefaction infrastructure are key to the viability of developing LNG
projects, and this is where Wison meets the requirements from project
owners. We are keen to work alongside clients to monetize gas resources
with satisfactory investment returns."

"We are very pleased to have reached this milestone with Wison," said
Davis Thames, Western's President and CEO. "It was clear to us last year
that Wison's highly successful Caribbean FLNG project, constructed on
time and on budget, marked a milestone in the development of low cost,
mid-scale liquefaction solutions. The team at Western, with the support
of Apollo, is looking forward to continuing work with Wison and our
other partners to successfully deliver a mid-scale greenfield LNG export
facility with costs per tonne in line with much larger brownfield
facilities on the US Gulf Coast. Combined with the availability of
abundant, low cost gas in western Canada and geographic proximity to the
largest LNG market in the world, Western's delivered costs will compare
favorably to other low-cost LNG suppliers from around the world."

About Wison Offshore & Marine

Wison Offshore & Marine is a leading LNG solutions provider and tailored
offshore & marine EPCIC service provider, delivering cost-effective
infrastructure solutions and integrated turn-key projects to global
energy and maritime industry. Company's product portfolio spans from
floating facilities across LNG value chain from liquefaction to power
generation, module fabrication and commissioning for onshore and
offshore plants, offshore platforms, to high-spec vessels and cranes.
Building upon proven track records, our experienced teams apply their
wealth of expertise and leverage world-class yard facilities in China to
deliver EPCIC and fabrication services adhering to the highest of
international quality and HSE standards.

Find out more at

About Western LNG, LLC

Western is a Houston-based company engaged in the development of North
American liquefied natural gas (LNG) export facilities. Western is
seeking to deploy innovative, low cost, mid-scale floating liquefaction
technology at locations that have existing pipeline access to natural
gas basins that are becoming stranded behind burgeoning shale production
in North America. Western was founded by Davis Thames, former Senior
Vice President of Cheniere Energy, Inc., which pioneered the development
of LNG exports from the "Lower 48" of the United States at its Sabine
Pass LNG terminal. Mr. Thames is joined by co-founder Andrew Goldman,
Chief Investment Officer of Hildred Capital Partners and a long-term
investor in the liquefied natural gas sector, and a seasoned team of
executives experienced in the LNG and related energy infrastructure
industries. The company's development activities are supported by
certain funds managed by affiliates of Apollo Global Management, LLC
(NYSE:APO), a large, internationally recognized global alternative
investment manager with over $245 billion in assets under management.

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