Statoil wins gas deals in China and Japan

Jan 29, 2003 01:00 AM

Statoil said it had won gas deals in China and Japan worth NOK 1.5 bn ($ 217.9 mm). Statoil said it had sold 600,000 tons of LPG under three deals including 400,000 tons for Japanese industrial group Mitsui.
A further 100,000 tons would be taken by Japan's Marubeni and ChevronTexaco subsidiary Caltex would buy 100,000 tons for delivery to Japan, Statoil said. Statoil called the deals a "breakthrough" for its LPG sales in Asia.

Gas has become increasingly important for Statoil as prospects for oil discoveries off the Norway diminish. The company said that China and Japan are among the world's most significant LPG markets.
Norway is the world's third biggest exporter of LPG after Saudi Arabia and Algeria, and Statoil's exports of 5 mm tpy account for the bulk of the country's sales, Statoil said.

Source: Aftenposten Nettutgaven
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