14 December 2020

Very Large Gas Carrier BW Gemini Successfully Completes Transpacific Voyage and Loading at Enterprise Terminal; BW LPG Commits Three More Vessels for Retrofitting, Bringing Total to 15

(Singapore, 14 December 2020)

BW LPG Limited ("BW LPG", the "Company", OSE ticker code: "BWLPG.OL") announces today that BW Gemini, the world’s first Very Large Gas Carrier (VLGC) to be retrofitted with pioneering LPG dual-fuel propulsion technology, had successfully completed her historic crossing of the Pacific Ocean on LPG propulsion, and completed her loading at Enterprise Terminal in Houston today.

BW Gemini is carrying a record load of 49,000 metric tons of LPG on a single keel. As the vessel refuelled while loading and no additional bunkering was needed, she has proceeded on her voyage. This turnaround translates to an increase in the vessel’s commercial availability for customers.

On the back of BW Gemini’s successful retrofitting and first voyage, as well as the Company’s belief in the future of LPG, BW LPG has committed an additional three VLGCs for retrofitting, bringing the total commitment to 15 vessels and a combined cost of approximately USD 130 million.

Says Anders Onarheim, BW LPG CEO, “We are taking the lead and advancing technology that will allow us to decarbonize and maximize the value of an asset with a 20-year lifespan as we prepare for a zero-carbon solution.” He adds, “Building new ships can provide the benefits of operating with LPG but comes at a heavy cost. Counting total emissions, a new ship represents about 70,000 tons of carbon dioxide in the materials and building process. Compared to 2,000 tons of carbon dioxide for retrofitting, the sustainability outcome is much better from retrofitting than from building new vessels.”

LPG propulsion technology is a necessary and complementary step towards the use of zero-carbon fuels such as ammonia. More information on the benefits of LPG propulsion is available at https://www.bwlpg.com/our-fleet/pioneering-lpg-propulsion.

For further information, please contact:

Pontus Berg
Executive Vice President, Technical and Operations
E-mail: pontus.berg@bwlpg.com

Lisa Lim
Head of Corporate Communications
Tel: +65 9732 9596
E-mail: lisa.lim@bwlpg.com

About BW LPG

BW LPG is the world's leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping and experienced seafarers and staff, BW LPG offers a flexible and reliable service to customers. More information about BW LPG can be found at www.bwlpg.com.

BW LPG is associated with BW Group, one of the world's leading shipping groups. BW Group controls a fleet of over 360 ships which includes product tankers, LNG and LPG carriers, floating storage and regasification (FSRU) units, dry cargo carriers, crude oil supertankers and floating production storage and offloading (FPSO) units.

This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.