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Oman seals Chinese liquefied natural gas deal

01 October 2008

Oman has signed a deal to sell liquefied natural gas to China National Offshore Oil Corporation (CNOOC) an Omani daily newspaper has reported. Qalhat LNG has apparently signed a master sale and purchase agreement but further details were not forthcoming.

Qalhat LNG has capacity to produce around 3.3 million tonnes per year, a third of Oman's 10 million tonne/yr LNG capacity. Some of that capacity has lain idle as the country has prioritised meeting domestic demand above export commitments.

Qalhat LNG is 46.84% owned by the government of Oman, 36.8% owned by Oman LNG and 7.36% owned by Union Fenosa Gas. Japanese companies hold the rest.

Oman, like its neighbours in the world's top oil-exporting region, has seen gas demand surge as an economic boom feeds both power consumption and industrial growth.

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