Gulf Oil and Gas accountACCOUNT

Mitsubishi Corporation and Qalhat LNG sign LNG Sale and Purchase Agreement

Source: 6/30/2004, Location: Middle East

On 1st July 2004, Mitsubishi Corporation and Qalhat LNG are to sign a long term LNG supply agreement in Osaka, Japan. The agreement shall be signed by Mr. Hisanori Yoshimura, Executive Vice President of Mitsubishi Corporation and His Excellency Dr. Mohammed Al Rumhy, Minister of Oil & Gas - Sultanate of Oman as Chairman of Qalhat LNG.

Qalhat LNG is constructing natural gas liquefaction facility with production capacity of nearly 3.7 million tonnes of LNG per year. The construction of the facility is due to be completed by the end of 2005 and the first LNG cargo is anticipated to sail from the Qalhat terminal in early 2006. The Qalhat LNG project is mainly owned by the Government of the Sultanate of Oman and it is the second LNG project in Oman. The first LNG project was Oman LNG which started LNG production in 2000. Both projects are located in the same vicinity in the eastern part of Oman. The project is aimed at strengthening the economic diversification policy of the Sultanate of Oman and boost its international energy business activities.

Under this agreement, Qalhat LNG will supply Mitsubishi Corporation about 800,000 tonnes of LNG per year starting from 2006 for the period of 15 years with 5 year extension. The agreement is on FOB basis and Mitsubishi Corporation will be responsible to arrange the LNG vessel to lift LNG cargoes from Qalhat LNG.

Mitsubishi, who has wide experiences in various LNG projects as Buyer's agent in Japan and an equity shareholder of liquefaction ventures for more than 30 years, is expanding its business activities across the entire LNG value chain from upstream to downstream including a new venture of an LNG receiving terminal project in Long Beach of the United States. Through this agreement, Mitsubishi will be able to strengthen global LNG trading activities in the emerging markets such as the United States.

LNG Carriers News in Oman >>

Qatar >>  6/30/2020 - Qatargas Operating Company Limited (Qatargas) announced the delivery of the first cargo of liquefied natural gas (LNG) on a Q-Flex LNG carrier to the ...
Argentina >>  6/25/2020 - EXMAR has received written notification of force majeure from YPF S.A. (the “Notice”) under the Charter Agreement and Services Agreement for the TANGO...

France >>  6/23/2020 - TMS Cardiff Gas has taken delivery of another LNG tanker built by South Korea’s shipbuilder Hyundai Heavy Industries. The newest addition to the shipp...
Finland >>  6/22/2020 - On June 18th, Hamburg based LNG supplier Nauticor, a subsidiary of the Nordic energy company Gasum, has conducted the initial ship-to-ship LNG bunkeri...

South Korea >>  6/22/2020 - On June 10, 2020, Excelerate Energy L.P. (Excelerate) took delivery of its tenth floating storage regasification unit (FSRU) the Excelerate Sequoia fr...
United States >>  6/17/2020 - Quality Liquefied Natural Gas Transport (Q-LNG) is to take delivery of its first newbuild vessel from shipbuilder VT Halter Marine. The New Orleans-ba...

Related Categories: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

Related Articles: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

Oman Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |

Oil & Gas Projects in Oman >>

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.