US will be main export market for Angola’s natural gas

11 November 2011

Moscow, Russia, 11 Nov – The United State of America will be the main export market for the natural gas produced by the Angola LNG project, the head of the production department of the Oil Ministry, Alcides Santos said Thursday in Moscow, Russia.

Cited by Angolan news agency Angop, Santos said, at the Angola-Russia economic forum, that according to projections, annual exports are estimated at US$5.2 billion.

Explaining the choice of the United States as the main market for Angola’s natural gas, Santos said that the US had been the first country to show interest in purchasing the gas and also had terminals ready to receive it, as well as the fact that US group Chevron is the main shareholder of Angola LNG.

“The LNG Angola project, which ahs been underway for over two years in an area of 2,000 hectares in Soyo municipality, Zaire province, will produce, through a single line, 5.2 billion tons of natural gas,” he said.

In order to complete the project in 2012, Chevron, BP, Total, ENI and Sonangol have invested US$9.1 billion.

As well as the United States countries in Europe and Asia, notably South Korea and Japan, are interested in importing the natural gas from Angola.

The Angola-Russia economic forum, which has the theme of “Angola in the 21st Century: A Growing Economy,” began Thursday in the Russian capital and features speeches by members of the Angolan government and Russian officials. (macauhub)