Statoil sells LPG to Japanese and Chinese customers from Kaarstoe

Jan 24, 2003 01:00 AM

Statoil has signed contracts for the sale of LPG to Japanese and Chinese customers from its terminal at Kaarstoe near Stavanger. Statoil has sold a total of 600,000 tons of LPG through three contracts worth around NOK 1,5 bn.
The Japanese industrial concern Mitsui will buy 400,000 tons, the Japanese company Marubeni 100,000 tons, and Caltex, a subsidiary of Chevron Texaco, 100,000 tons for delivery to China.

LPG consist mainly of butane and propane, and is much used for cooking, heating and public transport. A Japanese tanker left Norway with the first load of 40,000 tons of LPG.
Norway is the world's third largest exporter of LPG, next to Saudi Arabia and Algiers.

Source: The Norway Post
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