Japan Looks to Oman for LNG

With Japanese LNG imports looking to reach at least 91bn cubic metres (bcm) by 2010 according to BMI forecasts, Japanese firms are scouring the globe for stable sources of the liquid gas, with Mitsubishi and Itochu recently investing in the Omani LNG segment. The two firms, along with major Japanese gas supplier Osaka Gas, will each buy a 3% stake in Oman's state-run Qalhat LNG facility. The deal will see the Omani government's stake in Qalhat reduced to 46.84%, while Omani company Oman LNG will continue holding 36.8% and Spain's Union Fenosa 7.36%.

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