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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