Sonatrach awards Itochu-Mitsui LNG carrier contract

By OGJ editors

HOUSTON, Nov. 3 -- Algeria's state-owned oil and gas company Sonatrach has awarded a $160 million contract to Japanese shipyards Itochu Corp. and Mitsui & Co. Ltd. to build a 75,000 cu m capacity Medmax LNG carrier, with an option for a second like vessel, reported OPEC News Agency.

Separately, Sonatrach signed an agreement with French bank Caylon for financing 75% of the carrier's cost, reported OPECNA. Sonatrach recently acquired two other LNG carriers, Berge-Arzewa and Lalla Fatma N'Soumer, and plans to increase its gas export capacity to 85 billion cu m in 2010 and to 100 billion cu m by 2015.

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