Assembly of natural gas production unit in Angola to begin this year

27 April 2007

Barcelona, Spain, 27 April – The assembly of the liquid natural gas (LNG) production unit is scheduled to be launched this year and its capacity will be increased at a later date, a director of the consortium building the factory said in Barcelona Thursday.

The project, which represents an investment of US$4 billion, is led by US oil company Chevron, with 36.4 percent of the consortium, and its partners are Sonangol (22.8 percent), BP and Total (13.6 percent each).

On April 2, Italy’s ENI said it had signed a memorandum of understanding to acquire a 13.6 percent stake in Angola LNG.

On the sidelines of the 15th International Conference and Exposition on LNG, held from April 24 to 27 in Barcelona, the director of Angola LNG for governmental relations, Modesto Laurentino da Silva, said that a final decision on the project would be taken next June.

“Clearly, a decision must be made before we can begin construction of the production unit which, everything points to its beginning to be built this year,” he said.

According to Angola LNG, the production unit will have a production capacity of 8 million metric tons of LNG per year. (macauhub)