Oman LNG (OLNG) recently announced that a Master Ex-ship Agreement has been signed to sell nine cargoes each of 139,000 cubic meters of Liquefied Natural Gas to Gaz de France. The cargoes are loaded at the Oman LNG terminal in Qalhat and delivered to the Montoir-de-Bretagne terminal in France.
The delivery of nine cargoes to Gaz de France commenced in March 2002 and the last cargo is scheduled to be delivered at the end of this year. GDF is usually a Free on Board (FOB) buyer but the deal with OLNG was negotiated on an ex-ship agreement and on a related confirmation notice. As an ex-ship deal, it has been agreed that OLNG will provide shipping in delivering the nine LNG cargoes.
In addition to this agreement, OLNG and Gaz De France also signed a Master FOB Agreement for further potential deliveries.
Headquartered in Paris, Gaz De France is a national French company for import, transportation and distribution of gas. It imports around eight million tons per year of LNG, mainly from Algeria and Nigeria. The Company is one of the major suppliers of gas to industrial and residential sectors in Europe.
OLNG is a joint venture 51 percent controlled by the government of Oman, 30 percent by the Royal Dutch/Shell Group, 5.5 percent by TotalFinaElf with the remaining shares distributed between Korea LNG, Partex, Mitsui and Itochu. The company’s plant is located in Qalhat in the province of Sur. — (menareport.com)
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