Oman: New agreements signed for Sohar LNG tanker finance
Several agreements on re-scheduling finance and re-structuring the administration of Sohar LNG tanker and establishing a new gas transport company were signed at the Finance Ministry Wedneday.
Ahmed bin Abdul-Nabi Macki, Oman's National Economy Minister and Deputy Chairman of the Financial Affairs and Energy Resources Council and Chairman of Oman Maritime Transport Company signed for the company, while Dr. Khalid al-Fayez, Executive President of the Gulf International Bank signed for the bank and the Executive President of Mitsui Oskaline Company signed for his side.
According to the agreements, a new company will be established under the name “Energy Spring” to transport LNG. Ownership of Sohar LNG Tanker will be transferred from Greenfield maritime transport to the new company registered in Panama. Oman Maritime Transport Company owns 50% of Sohar LNG Tanker and Mitsui Company owns the remaining 50%.
The Gulf International Bank has offered loans valued US$ 155 million to finance the project.
Macki stressed the government’s keenness to invest in maritime transport to develop it with the aim of diversifying resources of the national income.
He noted that in addition to Sohar LNG tanker, the government now owns 5 more tankers, four of which will be operational during the upcoming two years. (menareport.com)