Japanese majors win US LNG contract
A GROUP of Japanese majors is reported to have jointly won a long-term contract to transport LNG from Qatar to North America.
MOL, NYK, K-Line, Iino Lines and trading house Mitsui are believed to have secured a 25-year contract beginning in 2008 to ship around 5.2M tonnes of LNG a year in eight LNG tankers for Qatar Gas-owned Ras Laffan LNG.
This is the first major LNG transport contract to serve North America. Qatar has prompted huge newbuilding orders in the LNG trade to cope with its forthcoming production. Egypt, Iran, and Oman are other countries in the region involved in the development of LNG for export.