Management and operation of Oman LNG Projects

The Oman Project Unit is engaged in proceeding operations for the Omani LNG Projects that Mitsubishi Corporation (MC) has stakes. Such activities include supporting their marketing activities of the liquid natural gas (LNG) produced by the projects and management of investments. MC has a 2.77% share in Oman LNG L.L.C., the first project in Oman. This is also the first LNG project that MC has developed in the Middle East. A total sales of about 5.5 million tons per year have been secured under long-term contracts with Korea Gas Corporation, Osaka Gas Co., Ltd. and ITOCHU Corporation. In addition, MC purchases 800,000 tons per year from Qalhat LNG, the second project in Oman in which MC has a share of 4%, including indirect contribution. A total sales of about 3.3 million tons per year have been secured for this project under long-term contracts with Union Fenosa (Spain), Osaka Gas Co., Ltd. and MC. Taking advantage of its location in the Middle East, MC is actively working to supply LNG, not only to the Asia-Pacific region, but also to the Atlantic region.