News Release
April 22, 1998

DUKE ENERGY LNG SALES BUYS SPOT LNG SHIPMENT

HOUSTON - - Duke Energy LNG Sales, Inc., a unit of Duke Energy International, has signed an agreement to purchase three cargoes of liquefied natural gas (LNG) from the North West Shelf LNG Project in Australia and has arranged the sale of these volumes in the United States.

The volume to be delivered is approximately 8.9 trillion British thermal units of natural gas. The shipments will come from North West Shelf’s liquefaction facilities located at Withnell Bay in the port of Dampier in Australia. The shipments are scheduled to load in May, July and October with arrival at Duke’s Trunkline LNG receiving terminal located in Lake Charles, La., in June, August and November.

Transportation of the cargoes will be by the LNG tanker Lake Charles, which is owned by. LACHMAR, an affiliate of Duke Energy.

"Our ability to market these LNG cargoes is strong evidence of Duke Energy’s unique array of trading and risk management capabilities and physical assets," said Bruce Williamson, chairman of Duke Energy LNG Sales. "The purchase of these LNG cargoes also demonstrates that imported LNG to the U.S. Gulf Coast can be competitive when the energy market risks are creatively managed. As a result, Duke Energy LNG continues to actively seek additional volumes of LNG."

These cargoes of LNG from North West Shelf are separate from, and in addition to, deliveries received by Duke Energy LNG under its long-term agreement with Sonatrading, the marketing company for Sonatrach, the national oil and gas company of Algeria.

Duke Energy Corporation (NYSE:DUK) is a global energy company with $20 billion in assets. Duke Energy companies provide electric service to approximately 2 million customers; operate pipelines that deliver 12 percent of the natural gas consumed in the United States; and are leading marketers of electricity, natural gas and natural gas liquids. Globally the companies develop, own and operate energy facilities and provide engineering, management, operating and environmental services. Contact Duke Energy on the World Wide Web at http://www.duke-energy.com.

Contact: John P. Barnett
Phone: 713/627-4072
24 Hour Phone: 704/382-8333
Email: media_relations@duke-energy.com