PDVSA executives recently met with banks and financial institutions in New York to seek a financial coordinator for the project, the source said. "The first step is to hire an advisor and that decision will be made soon at a corporate level," Aboub said.
According to a previous report, PDVSA executives met with Citigroup, ABN Amro, Merrill Lynch, JP Morgan Chase and the US Export Import Bank (Ex-Im). PDVSA expects to sign a 35-year joint venture deal with UK-Dutch company Shell and Japan's Mitsubishi to develop Mariscal Sucre by end-November. The partners plan to award a construction contract for the liquefaction plant by late 2005 and start construction by early 2006, ready to start production of about 4.7 million metric tons of LNG a year in 2008.
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