A finance agreement valued at US$240mn has been signed between Oman, Japan Bank for International Cooperation (JBIC) and Mizuho United Bank to finance the ownership deal of the LNG transport vessels, Nizwa and Ibri.
Nizwa, which is leased to Japan’s Itochu as per a long-term contract to transport gas to Japan, will join service in December.
The Oman Maritime Transport Company owns 60% of the tanker Nizwa, while Itochu and Mitsui Osk own the remaining percentage.
Ibri, which is leased to Mitsubishi Gas Transport Commercial Company for 20 years, will join service by the middle of 2006.
The capacity of each vessel is estimated at 145,000 cubic metres of LNG