Solvang ASA has today terminated the Joint Venture Agreement dated 16 June 2009 with Evergas  with respect to Evergas Solvang KS and the operation of the ethylene tonnage.  

The reason for the termination is that a deadlock has occurred under the terms of the Joint Venture Agreement and the parties have not been able to resolve the deadlock after following the procedure set forth in the Joint venture Agreement. Solvang has therefore required that the Joint Venture is dissolved. It is important to highlight that Solvang will fulfill all of its existing contractual commitments towards third parties. Initially Solvang will market and operate its ethylene tonnage independently while evaluating options.