Atlantic LNG Co. of Trinidad & Tobago has scheduled construction of a $1 billion liquefied natural gas export plant at Point Fortin, Trinidad.
The 3 million metric ton/year plant will process gas from fields off Trinidad operated by Atlantic LNG's major interest holder, Amoco Corp.
Atlantic has signed contracts to begin LNG sales in October 1999-60% to Cabot LNG Corp. of Boston and 40% to Enagas SA of Spain. Subsidiaries of the two buyers are also Atlantic LNG shareholders.
Atlantic LNG let contract to Bechtel Corp., Houston, for engineering, procurement, construction, start-up, and initial operation of the plant. Site preparation has begun and initial equipment orders have been placed.
Amoco said a licensing agreement has been signed with Phillips Petroleum Co. to base the plant on proprietary Optimized Cascade process technology.
The plant will be built to allow for construction of additional production trains if demand for LNG allows.
Amoco is to supply about 450 MMcfd of gas to the plant during a 20 year contract. The company has not confirmed which fields will be developed to feed the LNG scheme or how much gas reserves are proved to date.
Amoco has a number of producing fields and discoveries off Trinidad and in 1993 began a program to step up exploration and production southeast of the island (OGJ, Mar. 22, 1993, p. 38).
The company will develop two offshore gas fields and lay a pipeline to shore and across the island to feed the plant. Amoco figures total cost of the LNG plant, field developments, and pipeline at $6 billion.
Atlantic LNG shareholders are Amoco 34%, British Gas Trinidad LNG Ltd. 26%, Spain's Repsol SA 20%, Cabot 10%, and state firm NGC Trinidad & Tobago LNG Ltd. 10%.
British Gas sees potential for development of a second LNG export unit at the plant to tap its gas discoveries in the North Coast Marine Area. British Gas says its discoveries there could hold reserves of more than 5 tcf of gas.
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