ConocoPhillips, Essent mull LNG terminal in the Netherlands

By OGJ editors
HOUSTON, June 24 -- ConocoPhillips and Essent Energie BV of the Netherlands signed a memorandum of understanding to study the feasibility of developing an LNG import terminal at the Port of Eemshaven, the Netherlands.

The companies have executed a land option agreement with the 100-acre site owner Groningen Seaports. The initial study is expected to be complete by yearend, after which a decision will be made whether to proceed into the next, more-detailed engineering phase.

A final investment decision could be made as early as 2007, and the operation of the terminal could start in 2010 subject to economics and permit approvals.