World's First CNG Ship Approved for Construction

World's First CNG Ship Approved for Construction

September 19, 2006

    CALGARY, Alberta, Sept. 19 /Xinhua-PRNewswire/ -- Sea
NG Corporation ( http://www.coselle.com ) announced today
that the American Bureau of Shipping ("ABS") has
approved for construction its Coselle compressed natural
gas ("CNG") ship.  This is the first ship and
cargo system in the world for the transport of CNG to be so
approved by ABS or any other international marine
classification society. 

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    Coselle CNG ships will be deployed to carry moderate
volumes of natural gas (30 to 500 mmscf) over medium
distances (200 to 2,000 km), a segment of the marine gas
transportation market that has not been economically served
by pipelines or liquefied natural gas.

    The Coselle is a unique, patented system, invented in
Canada, for storing high-pressure gas in a coil of small
diameter pipe.  Numerous Coselles are contained within the
specially-designed ship.  This storage system has
significant safety and cost advantages over conventional
large diameter pressure cylinders.  The Coselle CNG System
has been in development for a decade by a team of
experienced gas and marine engineers.  

    "It has been a tremendous achievement for our
multidisciplinary team to complete the detailed design and
marine approval process for a new class of ship.  Our
Coselle CNG ship will provide the market with a safe,
reliable and cost effective alternative means of
transporting natural gas by sea", said David Stenning,
President & CEO of Sea NG.  "We can now launch our
first project."

    A major advantage of the Coselle CNG System is that it
requires minimal on-shore facilities.  Gas can be loaded
and discharged at simple port-side pipeline facilities,
which greatly reduces environmental, land-use and financial
concerns.  Gas can also be trans-shipped at offshore buoys
if a port is not accessible.  The potential market for the
Coselle CNG ship is substantial.  

    "Sea NG has a unique CNG system that we believe
can open new gas markets in many regions, and we are
excited about its commercial potential in a wide range of
new project opportunities", said Clarence Tong of
Mizuho Corporate Bank in New York, which is supporting some
of the projects Sea NG is developing.

    Another strong proponent of the Coselle CNG System is
Marubeni Corporation, one of Japan's leading international
trading companies.  "We have identified numerous
potential projects around the world that can greatly
benefit from using the Coselle System, and look forward to
supporting its immediate application", said Tomohiko
Hirano at Marubeni in Tokyo.

    Based in Calgary, Canada, Sea NG Corporation is a
private company in the business of transporting CNG using
its proprietary Coselle System.  For further information,
see http://www.coselle.com

    For more information, please contact:

     Allan Keough, 
     Executive Vice-President 
     Sea NG Corporation
     Tel:   [phone]
     Email: [e-mail]

SOURCE  Sea NG Corporation