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Chevron Announces Approval for Angola LNG Project

Posted on: Wednesday, 12 December 2007, 06:00 CST

Chevron, which owns a 36.4% interest in Angola LNG Limited through its fully owned subsidiary Cabinda Gulf Oil Company, has announced that the investors in the Angola LNG project have agreed to move the project forward to the construction phase.

Cabinda Gulf Oil has entered into an investment contract with the Angolan government and Sonangol to develop the project. The Angola LNG project plans to commercialize dedicated Angolan natural gas resources by collecting and transporting gas located offshore Angola to an onshore liquefaction plant located in the Soyo region, Zaire province.

The project is designed to receive approximately one billion cubic feet of associated natural gas a day and produce approximately 5.2 million metric tonnes a year of LNG and related gas liquids products.

It is expected to supply up to 125 million cubic feet a day of natural gas to Sonangol for domestic use in Angola. The company said that the first LNG from the project is anticipated in early 2012. The LNG is planned to be delivered to Gulf LNG's clean energy regasification terminal in Mississippi for sale in the US.

George Kirkland, executive vice president of Chevron, said: "Chevron's experience in executing technically and commercially complex projects is demonstrated by the progress of Angola LNG, which will establish Angola as a competitive source of LNG to the emerging global natural gas market."

Source: Datamonitor

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