A  $240 million agreement has been signed between Oman and two Japanese banks to finance two liquefied natural gas tankers, said officials.

The deal secured financing from Japan Bank for International Cooperation (JBIC) and Mizuho United Bank for two liquefied natural gas (LNG) tankers, the Nizwa and the Ibri, they added according to a report.
The Nizwa is leased to Itochu Company of Japan, said Ahmad Bin Abdul Nabi Macki, Oman's Minister of National Economy. The Oman Maritime Transport Company owns 60 per cent of the other tanker, the Nizwa, and Itochu and Mitsui OSK Lines of Japan own the remainder.
The Ibri will enter into service by mid-2006. The capacity of each vessel is 145,000 cubic metres of LNG. The Oman Maritime Transport Company has six LNG tankers, two of which are in service.
The remaining four are under construction, Macki said. All these vessels are involved in long-term contracts with Oman LNG and Qalhat Liquefied Gas, the report added.
The agreements signed by Oman LNG and Qalhat Liquefied Gas with a number of Japanese companies to sell and purchase liquefied gas are oriented towards the long term, Macki said.
The Oman Maritime Transport Company plans to develop Oman's ports and free trade zones, he added. Its cooperation with the Oman Oil Company will link the maritime transport sector with the petrochemical and aluminum industries, he said.
Meanwhile, Japanese city gas company Osaka Gas' wholly-owned subsidiary Osaka Gas International Transport has signed a shareholders' agreement to jointly own a new LNG carrier with partners Oman Shipping Co and Japanese shipping firms NYK Line and K Line.
OGIT, which was to hold an 85 per cent share in the vessel under an original agreement signed late last year, will now reduce its stake to 51 per cent to allow Oman Shipping Co to take a 34 per cent interest in the new 153,000 cu m ship, an Osaka Gas official says.
The ship's operator NYK Line will hold a 10 per cent stake, with the remaining five per cent going to K Line.
The new vessel, to be built by Japanese shipbuilder Kawasaki Shipbuilding, will be deployed for transporting LNG supplies from Oman's Qalhat LNG project to Osaka Gas, which will use the LNG for its foray into Japan's deregulating power market.
Osaka Gas has plans to build a 1,000MW (4x250MW) gas-fired power generation plant for completion in 2009 that will be fueled by LNG supplies from Oman.
Osaka Gas has a contract with Qalhat LNG for up to 800,000 tpy of LNG over the 2009-2026 period on an FOB basis to supply the power plant.
The initial volume lifted will be lower at around 500,000 tpy, before rising to the maximum 800,000 tpy in 2010 when the power plant ramps up to full capacity, the official said.
Osaka Gas also ordered another new 153,000 cu m LNG vessel from Kawasaki Shipbuilding for delivery in 2009.
This ship will be 60.1 per cent owned by OGIT and 39.9 per cent by NYK Line and could be used for transporting LNG from Indonesia if negotiations for a FOB supply contract are successful, the official said.
Osaka Gas will take delivery of a third new LNG vessel in 2006 for transporting LNG from Australia's North West Shelf venture.
Osaka Gas has an FOB supply contract with NWS for one million tpy over 30 years which started in 2004.
Osaka Gas currently has access to an existing LNG fleet of three vessels jointly owned with other Japanese LNG importers or shipping companies.