Middle East Economic Survey

VOL. XLVII

No 25

21-June-2004

ALGERIA

Algeria Forms JV With Japanese Partners For Medmax LNG Carrier

Sonatrach and its shipping subsidiary Hyproc agreed on 11 June to establish a joint venture with Japans Mitsui OSK Lines and Itochu to construct a new Medmax 75,500 cu ms LNG carrier to be chartered to Sonatrach on a long-term basis. The four partners, who will each hold 25% in the joint venture, have selected Universal Shipbuilding Corporation for one ship to be...