Angolan LNG project seeks alternatives to United States market

30 November 2011

Perth, Australia, 30 Nov – The Angola LNG company is due to start exporting its first liquid natural gas (LNG) in mid 2012 and plans to find alternative markets to the United States where there has been a sharp drop in gas prices, the chairman of the company said Monday in Perth, Australia.

“Four years ago our project had sales to the United States as its basis but, given that there has been a drop in prices due to increased production, we are seeking alternative buyers,” António Órfão, chairman of Angola LNG, told financial news agency Reuters on the sidelines of a conference held in Perth.

The Angola LNG project, which intends to process 5.2 million tons of natural gas each year, and is led by US company Chevron, which has a stake of 36.4 percent, and also has state oil company Sonangol, with 22.8 percent, and the ENI, Total and BP groups, each with 13.6 percent, as its partners.

Órfão also said that Angola LNG was setting up a new company that will be charged with selling the natural gas in the most interesting market, which he did not name. (macauhub)