Sonatrach signs deals with Japanese shipwrights

Nov 04, 2004 01:00 AM

Algerian oil company Sonatrach signed in Algiers two deals with Japanese shipwrights Itochu and Mitsui for the purchase of two methane tankers of a capacity of 75,000 cm of LNG.
The agreement for financing this purchase was inked between Sonatrach, SNTM Hyproc (National Company for Maritime Transport of Hydrocarbons and Chemicals) and French bank Caylon.

The project's cost has been estimated at $ 160,000 mm, financed up to 75 % by Caylon, the bank’s representative told.
The two deals, signed by SNTM Hyproc CEO, in the presence of Energy and Mining Minister Chakib Khelil and Sonatrach CEO Mohamed Meziane, are related to the "Medmax" (Mediterranean Maximum) project.

Source: LiquidAfrica
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