Conoco, Mitsubishi to Develop Gas Terminal
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From Bloomberg News
ConocoPhillips, the largest U.S. oil refiner, and Mitsubishi Corp., Japan’s biggest trading company, finalized an agreement to jointly develop a terminal in Long Beach to capitalize on growing demand for natural gas imports.
The terminal would have yearly capacity to import about 5 million tons of liquefied natural gas, Houston-based ConocoPhillips said.
The terminal is expected to be completed in 2009 and cost about $450 million.
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