Project provides new source of LNG to help meet global demand
SOYO, Angola, June 16, 2013 /CNW/ - Angola LNG, the Soyo-based facility
built to create value from Angola's offshore gas resources, confirms
that production of liquefied natural gas (LNG) has safely commenced at
the Angola LNG plant in Soyo and that its first cargo has been shipped
today. This marks the first new LNG supply to come on-stream since
2010, and provides a new source to meet the increasing global demand
(Logo: http://photos.prnewswire.com/prnh/20130616/621759-a )
(Photo: http://photos.prnewswire.com/prnh/20130616/621759-b )
The first cargo was sold to Angola's state oil & gas company Sonangol
and is currently being shipped to Brazil by the SS Sonangol Sambizanga,
one of seven 160,000 m3 LNG vessels that are under long-term charter to the Angola LNG project.
Commenting on the first cargo Artur Pereira, CEO, Angola LNG Marketing
said: "Angola LNG is entering the market at an exciting time. The
world LNG market is expected to remain tight over the coming years,
with very limited new LNG capacity coming on-stream. We are delighted
to be producing and shipping our first LNG cargo."
A large number of master LNG sale and purchase agreements have been
executed with energy companies across the world, providing Angola LNG
with a robust and diverse portfolio of customers. Further agreements
are currently being negotiated.
Today's announcement marks a milestone in the continued development of
Angola's oil and gas resources. As the largest single investment in
the Angolan oil and gas industry the project is set to play a key part
in the financial prosperity of Angola.
"Angola LNG's vision is to be a reliable and competitive supplier, a
strong community partner, and a role model for the economic development
of Angola." added António Órfão, Chairman, Angola LNG Ltd. "The
project provides a solution to minimise flaring and environmental
pollution by gathering associated gas from Angola's offshore oil fields
to provide clean and reliable energy to our customers and a return on
investment for our shareholders."
Angola LNG is a partnership between Sonangol, Chevron, BP, ENI and Total
that will gather and process gas to produce and deliver LNG and NGLs.
The project has an expected life of at least 30 years.
Notes to editors:
Angola LNG will gather, process, sell and deliver 5.2 million tons per
year of LNG - plus natural gas, propane, butane and condensate - from
its plant in Soyo, Angola; one of the world's most modern LNG
processing facilities. Angola is the second-largest oil producer in
sub-Saharan Africa. Historically associated gas has been flared or
re-injected into the reservoirs, but Angola LNG provides a solution to
reduce emissions and establish a new source of clean energy.
Shareholders of Angola LNG are Sonangol (22.8%), Chevron (36.4%), BP
(13.6%), ENI (13.6%), and Total (13.6%).
At $10bn the Angola LNG project is one of the largest ever single
investments in the Angolan oil and gas industry. Offering a dedicated
fleet of seven LNG vessels and three loading jetties (LNG, liquids and
compressed butane) the project's mission is to eliminate flaring of
gas, provide clean and reliable energy to customers and maximize return
SOURCE: Angola LNG Marketing Ltd
For further information:
Angola LNG Marketing Ltd