LNG SIGNS NGL SUPPLY DEAL WITH MITSUBISHI

Info-Prod Research (Middle East), June, 2003

According to "Oman Observer", Oman LNG has signed an agreement with Mitsubishi Corporation (MC) represented by Petro-Diamond Singapore to supply 180,000 tons of natural gas liquid (NGL) over a two-year period. The agreement was signed on the sidelines of the World Gas Conference at Tokyo by Nasser al Jashmi, Under-Secretary at the Ministry of Oil and Gas and Chairman of OLNG, and Masatoshi Mishizawa, MC's Senior Vice-President and COO of Petroleum Business Division.

This is the first time MC is lifting NGL cargoes from Oman where it is a stakeholder in OLNG. MC is known for its worldwide distribution network to handle naphtha and condensate and is the dominant player handling 90 per cent of condensates in the Japanese market.