Tractebel signs Oman LNG deal

Published December 16th, 2002 - 02:00 GMT

Tractebel LNG, the energy division of Suez has secured medium term liquefied natural gas (LNG) supply volumes from Oman LNG, which will be transported in Tractebel LNG’s newly chartered carriers, the Hoegh Galleon and the Excalibur.  

 

Tractebel LNG will use these vessels to transport LNG from Oman to North America, Europe and the Far East, and sales agreements have been secured with various buyers. The combined LNG volume secured under these arrangements is approximately 600,000 metric tons, equivalent to 30 million mmBtu.  

 

These transactions are part of Tractebel LNG’s continuing business, which is to seek opportunities to conclude new LNG purchase and sales arrangements with a number of LNG suppliers. This activity is fully in line with its original business strategy to expand Tractebel’s LNG activities into other regions and develop new and diversified LNG supply sources.  

 

With the Excalibur, Tractebel has now added a sixth vessel to its working LNG fleet since the acquisition of the Hoegh Galleon time charter from Enron in July this year. The other LNG vessels are the Matthew, the Methania, the Mourad Didouche and the Moustafa Ben Boulaid. In addition, Tractebel has long-term charter agreements with the Norwegian shipping company Bergesen for two brand-new LNG vessels that are under construction in Korea, and scheduled for delivery in 2003.  

 

Tractebel LNG is part of Tractebel’s Electricity and Gas International business unit, and operates worldwide. Based in London, Tractebel LNG coordinates Tractebel’s current LNG shipping capacity, as well as managing the company’s 10 percent share of operations at the Atlantic LNG liquefaction company in Trinidad & Tobago.  

 

Tractebel, the energy division of SUEZ, is a global energy and services business offering solutions in energy and related services, on-site services, design and construction of installations and engineering. — (menareport.com) 

 

© 2002 Mena Report (www.menareport.com)


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