Middle East Economic Survey

VOL. XLVIII

No 13

28-March-2005

ALGERIA

Sonatrach Acquires Medmax 2 LNG Carrier

Sonatrachs shipping subsidiary Hyproc on 9 March agreed to establish a joint venture with Japans Mitsui OSK Lines and Itochu to construct a second Medmax LNG carrier that will be chartered to Sonatrach on a long-term-basis. The Skikda LNG Transport Corporation (SLTC) joint venture selected Universal Ship Building Corporation to construct the 75,500 cu ms carrier for $139mn. The project will...