EIC has signed a long-term agreement with Samsung Heavy Industries to supply LNG cargo pumps, spray pumps, fuel gas pumps and emergency pumps for a total of 15 ships with an additional 7 options to be named later. The agreement has the potential for over US$36 million in sales for the Ebara/Cryodynamics Division.

EIC recently was awarded an Outstanding Supplier award from Hyundai Heavy Industries for the many pumps supplied to HHI for their LNG carriers. HHI was quoted as saying that EIC produces the highest quality pumps in the industry and also noted EIC’s commitment to service. HHI claims to have over 4,000 suppliers in their vendor base, and the awards were given to only 100 of what they consider their best suppliers.

EIC Corporate Officers shown with the HHI award (from left: John Holt – VP/Human Resources; Mark Wimbush – CFO; Joel Madison – CEO; David Cameron – VP/Project Management; Steve Rush – VP/Sales & Marketing; Keijun Kamio – VP/Engineering)

Ebara International Corporation and Cheniere Energy Enter Into Cryogenic Pump Supply Alliance Agreement

Ebara International Corporation's Cryodynamics Division, located in Sparks, Nevada, announces that it has entered into an alliance agreement with Cheniere Energy, Inc. for the supply of cryogenic submersible pumps for Cheniere's three planned LNG receiving terminals Sabine Pass LNG, Corpus Christi LNG and Creole Trail LNG.

The agreement covers both the in-tank LNG pumps that are mounted inside the LNG storage tanks as well as the high pressure send out pumps which feed the LNG to vaporizers prior to the pipeline.

Ebara International Corporation's Cryodynamics Division, located in Sparks, Nevada, has broken ground on a $2 million expansion of their liquefied gas pump test facility. This expansion will allow an increased number of their submerged cryogenic pumps to be tested per year. The expansion includes the addition of two test tanks, bringing the total to five, and in-line heat exchangers into the suction lines to increase the efficiency of the closed loop system.

The Cryodynamics Division of Ebara International Corporation, located in Sparks, Nevada, has recently received orders for the LNG cargo pumps for 13 ships and 5 options to be declared later. These orders are from Hyundai and Daewoo in Korea, and with 13 pumps per ship, totals 169 pumps to be delivered to the ship yards. The delivery of the orders extends from late 2005 to early 2008. The LNG pumps provided for each ship are the 8 main cargo pumps which off-load the LNG to shore, 4 spray/stripping pumps for keeping the tanks cool when empty and stripping the tanks when necessary, and 1 emergency pump that can be installed into any of the ships tanks to remove the LNG if the ships power to the other pumps fails.