Sample News Story
Oman Oil Company gets 7.5% share of Spanish regasification plant
15/11/2004
Oman Oil Company (OOC) has bought a 15% stake in Infraestructuras de Gas – which owns a 50% share in the Spanish regasification plant in Sagunto near Valencia. As a consequence OOC will acquire a 7.5% stake in the regasification plant.
Elias Velasco, president of Unión Fenosa, and Ahmed Al Wahaibi, managing director of OOC, signed the deal in Madrid on Friday.
Al Wahaibi said that OOC’s participation in the Sagunto plant was part of the company’s strategy to invest in international energy projects with experienced companies. In September this year, Unión Fenosa Gas bought a 7.36% share in Qalhat LNG – a new liquefaction plant in Oman.
The sale follows collaboration agreements signed in May 2002 between the Oman government and Unión Fenosa Gas (see “Unión Fenosa to build LNG plant with Oman and signs supply deal”, Gas Matters Today, May 31, 2002). Oman agreed to supply Unión Fenosa Gas with 2.2 Bcm/year of gas from Qalhat LNG for 20 years, starting in 2006.