Oman LNG and Union Fenosa Gas sign major gas deal

Nov 25, 2002 01:00 AM

Oman LNG signed a deal with Spain's Union Fenosa Gas to deliver 1.8 bn cm of LNG to the Spanish company between 2004 and 2005, the Omani company announced. Oman will transport the LNG on the Omani-owned Lakshmi freighter, the company said.
Oman LNG made its first LNG delivery in April 2000 to South Korean firm Kogas as part of a 25-year contract. On November 4, Oman LNG agreed to sell six cargoes of LNG to French energy giant TotalFinaElf destined for western markets.

Oman LNG also has long-term supply contracts with India's Dabhol Power Co. and Japan's Osaka Gas. Exports of spot cargoes have also already started to customers in the United States and Spain.
The government owns 51 % of Oman LNG, the Anglo-Dutch giant Shell holds 30 %, TotalFinaElf 5.54 %, Korea LNG 5 %, Partex of Portugal 2 %, and Japan's Mitsui, Mitsubishi and Itochu the rest.

Oman, a small non-OPEC oil producer, has said its annual production capacity of LNG is 6.6 mm tons.

Source: AFP
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