By OGJ editors
HOUSTON, Aug. 7 -- Total SA acquired Chevron Corp.'s 17% interest in the Brass LNG project in the Niger Delta, 90 km west of Bonny Island, Nigeria. Terms of the transaction were not disclosed.
Current partners are Nigerian National Petroleum Corp. (NNPC), 49%; Italy's ENI SPA, 17%; and ConocoPhillips, 17%. Project sanctions for the first two trains of Brass LNG are expected by yearend, with production scheduled to start in 2011.
Initially, two trains will be built, with a capacity of 5 million tonnes/year each, with most of the LNG intended for export to Europe and the US. Feed gas will be supplied from the partners' production, with Total accounting for 570 MMcfd of gas for at least 20 years.
The interest is in addition to Total's 15% stake in Nigeria LNG (NLNG), a joint venture company whose capacity was expanded to nearly 18 million tonnes/year with the commissioning of Trains 4 and 5 earlier this year. Train 6, with a capacity of 4 million tonnes/year, is under construction and scheduled to come on stream in 2007.
