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Algerian oil company Sonatrach has signed two deals with Japanese shipwrights Itochu and Mitsui for the purchase of two methane tankers of a capacity of 75,000 cubic metres (m3) of liquefied natural gas (LNG).

The agreement for financing this purchase was inked between Sonatrach, SNTM Hyproc (National Company for Maritime Transport of Hydrocarbons and Chemicals) and French bank Caylon.

The project’s cost has been estimated at US$160mn, financed up to 75% by Caylon.

The two deals are related to the Medmax (Mediterranean Maximum) project.