- Valuable reward for 12 years' endeavor since the project
participation in 1997 … Became the stable·long-term profit source -

Yemen LNG project, which Hyundai Corporation is in, has started its commercial production. After 12 years from project joining in 1997, Hyundai Corporation's waiting finally born fruit. Yemen LNG project will bring us 20~30 billion wons of dividend yield yearly for 20 years. It is surely the huge contribution to company's profit.

According to the administrator of Yemen LNG project, they started commercial LNG production from 15th (local time). There are two liquefaction plants for Yemen LNG project. One was completed and started LNG production, and the other one will be done in 2010. Hence, it will be possible to produce 6.7 million tons of LNG in 2010. The produced gas will be distributed to Asia and Atlantic countries through Korea Gas Corporation, GDF-Suez, and Total gas & power.

The first LNG shipping will be in early of this November. Yemen LNG project, which is with an investment of around 4.5 billion dollars, is one of the largest projects in Yemen. It consists of supplying gas from Marib region in central Yemen, through a 320 kilometers dedicated pipeline to the LNG plant located atthe port of Balhaf on the southern coast of the country. There, two liquefaction plants will be constructed and produce 6.7 million tons of LNG per a year.

Including Hyundai Corporation, the project shareholders are TOTAL (39.6%), Yemen Gas Company (16.7%), Hunt Oil Company (17.2%), SK (9.6%), Korea Gas Corporation (6.00%), and etc.