Ahmed bin Abdul-Nabi Macki, Oman's Minister of National Economy and Deputy Chairman of the Financial Affairs and Energy Resources Council, signed in Tokyo Monday with a Japanese Company agreements related to long term charter of the LNG carrier “Nizwa”.
As per the agreements, the vessel will be chartered for 20 years. The Japanese company will hold 20% of the vessel ownership while the Omani shipping company will have 60% stake and Mitsui O.S.K. lines will hold the rest.
According to ONA, the agreements also cover provision of voyage services by an Omani company being incorporated into a Japanese company as well as all that related to operating the ship besides training Omanis on board such carriers and creating job opportunities in relevant marketing and management in the Sultanate.
The agreements were signed in implementation of a contract for the purchase and sale of LNG from Qalhat plant reached this month between the Sultanate and the Japanese company. The vessel is currently being built by a Japanese ship builder and will be commissioned in January 2006. (menareport.com)
© 2004 Mena Report (www.menareport.com)
