Mobil eyes LNG plan for Portugal

Mobil Corp. has proposed selling Portugal liquefied natural gas and building an LNG regasification terminal there. The deal would provide Portugal with an LNG source other than that currently supplied by Algeria's Sonatrach. Mobil has equity stakes in LNG export projects in Qatar and Nigeria and says that, given the projected high growth in gas demand in Portugal, it will keep its offer open for the next few years.

Feb. 16, 1998

Mobil Corp. has proposed selling Portugal liquefied natural gas and building an LNG regasification terminal there.

The deal would provide Portugal with an LNG source other than that currently supplied by Algeria's Sonatrach. Mobil has equity stakes in LNG export projects in Qatar and Nigeria and says that, given the projected high growth in gas demand in Portugal, it will keep its offer open for the next few years.

"We will be very competitive with the price charged by Algeria," Alexander Dodds, Mobil's vice-president for LNG, was quoted in the local press as saying. Dodds said Mobil has no great interest in acquiring stakes in local gas companies, such as Transgas, which runs Portugal's gas trunk pipeline, although he was quoted as saying that Mobil would consider such a possibility if demanded by the government as part of any deal (see related article, p. 41).