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We discuss coherent optical orthogonal frequency division multiplexing (CO-OFDM) as a suitable modulation technique for long-haul transmission systems. Several design and implementation aspects of a CO-OFDM system are reviewed, but we especially focus on phase noise compensation. As conventional CO-OFDM transmission systems are very sensitive to laser phase noise a novel method to compensate for phase noise is introduced. With the help of this phase noise compensation method we show continuously detectable OFDM transmission at 25.8 Gb/s data rate (20 Gb/s after coding) over 4160-km SSMF without dispersion compensation.