Middle East Economic Survey
VOL. XLVIII
No 49
5-December-2005
ALGERIA
Sonatrach Signs Joint-Venture Agreement With AET-Mitsui
Sonatrach on 27 November signed a joint-venture agreement with American Eagle Transport (AET)-Mitsui OSK Lines to acquire and charter three crude carriers: a 2mn barrels very large crude carrier (VLCC), a 1mn barrels SuezMax, and a 100,000 tons (equivalent to 785,000 barrels) AfraMax. Sonatrach holds 50% of the joint venture, while AET-Mitsui holds the remaining 50%. The...
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