Maersk LNG activities transfer to Maersk FPSOs

On 1 April 2009 the responsibility for the LNG activities within the AP Moller - Maersk Group will be transferred from Maersk Tankers to Maersk FPSOs.

LNG will then come under the responsibility of Paul Carsten Pedersen, CEO of Maersk FPSOs. LNG activities within the AP Moller – Maersk Group include a fleet of five LNG carriers with a newbuilding programme of three more vessels for delivery in 2009. According to a statement issued by Maersk, the reason for incorporating the LNG business under Maersk FPSOs is that the business model applied in the LNG industry is based on long-term contracts, which is in line with Maersk FPSOs. The consolidation combines relevant technical resources and supports the growth strategy for both business areas. The transfer will, over time, encompass both commercial and technical management, and all employees involved in LNG will move to Maersk FPSOs’ office premises in Lyngby, North of Copenhagen.

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