NEW HEADS AT ATLANTIC LNG

The Chairman was pleased to report that Atlantic’s shareholders have approved the selection of Oscar Prieto as CEO as the successor to Mr Cape. Mr Prieto currently holds the position of President, BG Egypt, where he has overseen the construction, commissioning and successful operation of the first two trains of Egyptian LNG, all achieved in record time; Egyptian LNG’s two LNG trains are of the same design as Atlantic LNG trains 2 and 3. Born in Argentina, Mr Prieto joined the BG Group in 1998 to manage the transition from public to private ownership of Brazil’s largest gas distribution company, Comgas. Prieto holds a degree in Electrical Engineering from the Universidad Nacional de Rosario, Argentina and is fluent in English, Spanish and Portuguese.

Andrews also announced that a new position of Chief Operating Officer has been created to facilitate additional executive support for the operating, technical and commercial functions of the company, and to facilitate the CEO’s focus on corporate leadership, reputation and governance

Carlos Portela, a seasoned leader of technical and operations functions across his 29-year industry career who is currently responsible for operations in BP Colombia has been selected as Chief Operating Officer. He holds an MBA and a degree in Petroleum Engineering from distinguished universities in his native Colombia, plus a Masters in Petroleum Engineering from the prestigious Colorado School of Mines in the USA.

Prieto and Portela are due to take up their posts on September 1, 2006.

The company looks forward to welcoming these two accomplished executives into the Atlantic family, and to their leadership in the continued growth and development of the company.

Andrews expressed his confidence in the management team of Atlantic to lead an effective transition. “With the recent internal appointments of Andrew McIntosh as Vice President of Operations and of Carl Ramlakhan as Vice President of Technical Services, the Atlantic management team remains a strong experienced team, well prepared to facilitate the transition to new executive leadership,” the Chairman said.

Andrews said further that it was a tribute to Cape, who joined Atlantic at a critical period of its history and saw it through some challenging years of change and growth with the completion and commissioning of trains 2 and 3 and the record breaking construction of train 4. On behalf of the company and Trinidad and Tobago, Mr Andrews expressed his appreciation for Mr Cape’s stewardship and wished him well in his new assignment as Vice President Compliance and Ethics of BP America.

Atlantic LNG began operations in 1999 and now operates a 4-train facility in Point Fortin.