Amerada Hess, Poten & Partners to form Hess LNG

Amerada Hess Corp. and an affiliate of Poten & Partners Inc. are forming a joint venture company Hess LNG to pursue investments in LNG terminals and related supply, trading, and marketing ventures. The joint venture will be based at Amerada Hess' New York headquarters.

June 9, 2004

By OGJ editors

HOUSTON, June 9 -- Amerada Hess Corp. and an affiliate of Poten & Partners Inc. are forming a joint venture company Hess LNG to pursue investments in LNG terminals and related supply, trading, and marketing ventures. The joint venture will be based at Amerada Hess' New York headquarters.

Amerada Hess Chairman and CEO John Hess said Hess LNG would assume development of the proposed Poten & Partners-sponsored Weaver's Cove LNG terminal project at Fall River, Mass. A terminal at that site, a former Shell Oil Co. refinery used as an oil tank farm since the 1920s, would have an initial capacity to offload 400 MMcfd of LNG.