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PDVSA Sees Shell, Mitsubishi LNG JV Deal

Maritime Activity Reports, Inc.

September 9, 2003

PDVSA expects to sign a final JV deal with Royal Dutch/Shell Group and Mitsubishi Corp. to develop the $2.7B Mariscal Sucre LNG project by the end of Nov.2003. PDVSA recently decided to use Shell's gas liquefaction technology in the project.