Angola LNG receives final investment decision
Angola LNG will become the latest African export project as the partners have taken the final investment decision to start deliveries in early 2012.
LONDON, Dec. 10 -- Angola LNG Ltd. will become the latest African export project as the partners have taken the final investment decision to start deliveries in early 2012 to the Gulf LNG's Clean Energy regasification terminal in Mississippi.
The 5.2 million tonne/year onshore liquefaction plant in the Soyo region in Zaire province will commercialize gas from Blocks 0, 14, 31, 15, and 18; gas from nonassociated fields; and gas that is otherwise flared. Related gas liquids products will also be produced from the 1 bcfd of gas that will be sent to the plant. Angola LNG is expected to supply as much as 125 MMcfd of gas to state-owned Sonangol for domestic use.
Cabinda Gulf Oil Co. Ltd., a wholly owned subsidiary of Chevron Corp., has a 36.4% interest in Angola LNG, which has entered into an investment contract with the Angolan government and Sonangol to develop the project. Italy's Eni SPA also joined the consortium on Dec. 10 by taking a 13.6% from Sonangol. "The involvement of Eni in the Angola LNG consortium is part of the strategic cooperation established between Sonangol and Eni, signed in December 2006, and aiming at the development of gas resources," Eni said.
This new development means the Angola LNG shareholders are Sonagas 22.8%, Chevron Corp. 36.4%, Eni 13.6%, Total SA 13.6%, and BP PLC 13.6%.
Regasified LNG will be sold to the US affiliates of the partners. Total Gas & Power North America will buy and market Total's 13.6% share, around 100 MMcfd.
Contact Uchenna Izundu at firstname.lastname@example.org.