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Two U S firms to import Soviet gas and build vast pipeline
El Paso Natural Gas and Occidental Petroleum sign a letter of intent with the Soviet Ministry of Foreign Trade to import over a billion dollars of natural gas annually for 25 years. The plan envisions a 1000 mile Yakutsk to Vladivostok pipeline, a liquefaction plant, and a fleet of 80 cryogenic tankers. Financing likely from U S banks and Eximbank with potential Japanese participation, price negotiations to come.
MENTIONED IN THIS ARTICLE
Hammer
Yakutsk
Vladivostok
United States
Occidental Petroleum
Howard Boyd
Sl Paso
Ted
Boyd
el Paso
Nikolai G. Osipay