MEDCARRIER selects Sea NG for marine transportation of compressed natural gas



    CAIRO and CALGARY, June 26 /CNW/ - MEDCARRIER S.A.E. announced today that
it has selected Sea NG Corporation to provide the transportation service for
its proposed project to deliver natural gas to the island of Crete.
    This announcement comes one week after Public Power Corporation of Greece
(PPC) approved a Memorandum of Cooperation (MoC) with MEDGAS S.A. to further
evaluate the long-term supply of Crete's existing and new power generation
units with marine compressed natural gas (CNG), as an alternative solution to
the supply of liquefied natural gas (LNG). MEDGAS is the marketing partner of
MEDCARRIER in this project.
    MEDCARRIER will be using Coselle(TM) CNG ships operated by Sea NG to
transport natural gas from Egypt to markets in the Mediterranean region. The
Coselle(TM) CNG ships will provide customers with a continuous supply of
natural gas.
    "We have completed our extensive evaluation of marine CNG transport and
are pleased to announce the selection of Sea NG as the provider of marine CNG
transportation for the project. The MoC between PPC and MEDGAS allows
MEDCARRIER and Sea NG to proceed with the final feasibility study and the
coordination of resources for the project to transport CNG from Egypt to the
island of Crete," said Hisham Radwan, Vice Chairman & Managing Director of
MEDCARRIER.
    "Sea NG with our strong alliance partners and fully approved technology
will provide MEDCARRIER and its customers with economic, reliable, and safe
delivery of clean natural gas," said David Stenning, President & COO of Sea
NG.

    MEDCARRIER S.A.E. is a joint venture Egyptian company with ownership by
Egyptian Natural Gas Holding Corporation (EGAS), Arabia Gaz of Egypt, and the
Copelouzos Group of Greece. The company's main business is the processing,
loading, and transport of CNG from Egypt to locations in the Mediterranean
region.

    Sea NG Corporation, based in Canada, transports natural gas using its
proprietary Coselle(TM) technology. Coselle(TM) CNG ships serve new markets
for natural gas that cannot be effectively supplied by pipelines or LNG.
Coselle(TM) CNG ships enable economic gas delivery to smaller gas markets such
as island communities and industrial consumers. Sea NG's marine transportation
services also enhance the value of many marginal and otherwise stranded gas
fields. www.sea-ng.com





For further information:

For further information: Adam Hedayat, Vice President, Mediterranean,
Middle East & Africa, Sea NG Corporation, Calgary, Canada, (403) 539-9700,
Ahedayat@sea-ng.com; Hisham Radwan, Vice Chairman & Managing Director,
MEDCARRIER S.A.E., Cairo, Egypt, +202 2266 6351, hradwan@medcarrier.com.eg

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