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2009

26/11/2009

Announcement of business developments

The Groups of MOTOR OIL and MYTILINEOS hereby announce the establishment of a joint company, whereby the partners will participate with an equal stake, which will engage in importing and trading activities of all kinds of Natural Gas (LNG, CNG, etc.).

The Natural Gas will be used for the needs of the industrial facilities and the power production plants of the two Groups, as well as for sale to third parties, in Greece or abroad.

Within the context of the above, the partners agreed to take delivery and sell jointly a 65,000 cubic meter LNG cargo, expected to arrive at Revythousa on December 2nd.

Additional information regarding the legal name of the new company, the share capital, the location of the headquarters and the management will be announced in due course.

 

Maroussi, 26 November 2009

 

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