Chiyoda: Award of Gas Processing Plant in Qatar.

YOKOHAMA, Japan -- Chiyoda Corporation (TSE:6366) (ISIN:JP3528600004) has signed a contract for the engineering, procurement and construction (EPC) of Al Khaleej Gas Phase 2 Project (AKG-2) with RasGas Company Limited, which is acting on behalf of and as agent for ExxonMobil Middle East Gas Marketing Limited. This contract for the gas processing train, with capacity to support gas sales of 1,250 MSCFD of natural gas, was awarded on an exclusive negotiation basis and will be executed by a joint venture led by Chiyoda Corporation with Technip France (CTJV). The Front End Engineering and Design (FEED) work for the AKG-2 Project was also performed by Chiyoda.

After its completion in 2009, AKG-2 Project will produce sales gas to satisfy the increasing domestic gas demand in Qatar and eventually contribute to the further development of the infrastructure for Qatari industry. The AKG-2 train will also have the capability for ethane recovery. The value of the contract exceeds US $1.6 billion.

Chiyoda has extensive experience and expertise in processing acid gas coming from the North Field, Qatar, the world's largest non-associated gas reserve. In 2005, Chiyoda successfully completed the Al Khaleej Gas Phase 1 Project (AKG-1) with a gas sales capacity of 750 MSCFD which supplies feed gas to Qatar's first GTL project executed by Technip. CTJV is currently executing the world's 6 largest LNG trains, each with capacity of 7.8 MMTPA per train, in Ras Laffan, Qatar. The lessons learned from the AKG-1 Project and the ongoing LNG projects in the region will contribute to the success of the AKG-2 Project, thus realizing the earliest monetization of the gas reserve by fast-track project execution and the synergy effect afforded by simultaneous execution, in particular, with RasGas (3) LNG Trains 6 and 7. In addition, AKG-2 Project will enjoy the maximum benefit generated by CTJV's innovative execution approach of employing its Reliability Program.

Chiyoda Corporation, headquartered in Yokohama, Japan, provides services in the field of engineering, procurement and construction for gas processing, refineries and other hydrocarbon and industrial plant projects, particularly in Gas Value Chain areas, on a global basis including the Middle East, Russia, Africa and South East Asian regions. For more than 50 years, Chiyoda has constantly leveraged its extensive experience and far-reaching global network to give it an unrivaled advantage. The company will continue its EPC business, while innovating an expanded business model that includes Reliability Program and plant lifecycle engineering (PLE). This will enable Chiyoda to become a one-stop provider of everything its customers need in the way of plant development and operations.