TOKYO – Mitsui O.S.K. Lines, Ltd. (“MOL”; President Kunio Suzuki) today announced MOL and The Government of the Sultanate of Oman (“GOSO”) concluded a comprehensive service support contract with Oman Shipping Company and Oman Shipmanagement Company aimed at developing the ocean shipping industry in Oman. MOL President Suzuki and Oman Minister of National Economy Ahmed Macki signed the contract at the MOL head office in Tokyo on May 14.
Oman is well known as an oil-producing nation. Production of liquefied natural gas (LNG) has steadily grown since 2000, when Oman’s LNG plant was completed. In 2002, Oman produced about 6.6 million tons of LNG. Oman plans to produce about 10 million tons of LNG per annum when additional plants are completed in 2006.
In addition, GOSO places a high priority on the development of the ocean shipping industry, aiming to transport its own LNG to LNG buyers. In 2002, GOSO participated in a joint venture with MOL on two LNG carriers (the Sohar LNG and another LNG carrier that is under construction). Furthermore, GOSO has worked to establish shipowning and ship management companies, with the final goal of a full-scale ocean shipping industry that includes ship management, manning, and operation, as well as ownership.
MOL opened its Muscat office in April 2002 to develop Oman-based shipping business. With the above-mentioned contract, MOL can use its decades of accumulated know-how in the LNG transport business to offer a wide range of support services concerning newly-built LNG carriers for expanded LNG plants, vessel ownership, ship management and ship operation. At the same time, MOL will train Omani personnel in various aspects of shipping, including crews for the vessels.
The new contract involves MOL in a wide range of ocean shipping industry development projects in Oman, as well as in the transport project with the LNG carriers mentioned above.
For further information, please contact:
Shizuo Takahashi, General Manager
LNG Carrier Division A, LNG Group C
Tel:
03-3581-7627
Fax: 81-3-3581-7569
E-mail: lgcmo@mail.mol.co.jp