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Gold/Mining/Energy : LNG -- Ignore unavailable to you. Want to Upgrade?

To: Copperfield who wrote (134)	7/31/2004 9:26:49 AM
From: Dennis Roth	Respond to of 919

Nigeria LNG plant expansion gets go-ahead reuters.com Fri Jul 30, 2004 01:32 PM ET (Updates with KBR background in paragraph 10-11) By Tom Ashby LAGOS, July 30 (Reuters) - Multinational shareholders in a huge Nigerian liquefied natural gas (LNG) plant sanctioned a $1.25-billion expansion plan on Friday that will make it the largest industrial project in Africa. The sixth phase of Nigerian Liquefied Natural Gas (NLNG), which is going ahead despite corruption probes into contracts for two previous expansions, will raise capacity by 4.1 million tonnes to 22 million tonnes per year by 2007. "The board of directors and shareholders of Nigeria NLNG Limited today gave the go-ahead for the construction of NLNG's sixth train," spokeswoman Siene Allwell-Brown said in a statement. NLNG -- owned by state-run Nigerian National Petroleum Corp., Royal Dutch/Shell (RD.AS: Quote, Profile, Research) (SHEL.L: Quote, Profile, Research) , Total (TOTF.PA: Quote, Profile, Research) and ENI (ENI.MI: Quote, Profile, Research) -- takes gas produced along with oil in Nigeria's violence-torn delta, freezes it and ships it to Europe and the United States where it is used mostly for power generation. Its sixth phase is due to start up in 2007 and will produce of 4.1 million tonnes of LNG per year and one million tonnes of condensate and cooking gas. Royal Dutch/Shell subsidiary Shell Gas BV said it had sealed agreements to buy three million tonnes of LNG from train six to supply customers in North America and Europe. Total will buy the remaining one million tonnes annually. TSKJ, a multinational consortium, will be awarded the $1.25 billion engineering, procurement and construction contract for the latest expansion, the spokeswoman said. TSKJ officials are under investigation by authorities in the United States, France and Nigeria over alleged bribery related to earlier contracts. No one has been charged with any crime. "The investigations are on, but no one has taken TSKJ to court. We have a job to do and we will get on with it," Allwell-Brown said. TSKJ is a Portugal-registered consortium equally owned by Halliburton Inc. (HAL.N: Quote, Profile, Research) unit KBR, Technip SA (TECF.PA: Quote, Profile, Research) of France, ENI SpA (ENI.MI: Quote, Profile, Research) affiliate Snaprogetti Netherlands, and JGC Corp. (1963.T: Quote, Profile, Research) of Japan. Halliburton Inc last month severed ties with the former chairman of its KBR unit, A. Jack Stanley, accusing him of receiving "improper personal benefits" over the NLNG contract. © Reuters 2004. All Rights Reserved.

To: Copperfield who wrote (134)	1/13/2005 2:53:09 PM
From: Dennis Roth	Read Replies (1) \| Respond to of 919

Nigeria to build second LNG plant by 2008: official turkishpress.com 01-13-2005, 11h45 LAGOS (AFP) - Oil and gas-rich Nigeria plans to build a second multi-billion-dollar liquefied natural gas (LNG) plant in the southwestern state of Ondo, officials said. The new plant is the second in the west African country of some 130 million people after the Nigeria Liquefied Natural Gas (LNG) at Bonny Island, Rivers State, began commercial production in October 1999. A spokesman for the state-run Nigerian National Petroleum Corporation (NNPC) quoted the company's managing director Funso Kupolokun as saying on Wednesday that the new plant will be sited at Olokola in Ondo state. He said the project will cost six billion dollars and will be financed by the NNPC, ChevronTexaco and and the British Gas West African Limited. The spokesman said the plant, to be known as OK-LNG, will produce 30 metric tonnes of liquefied natural gas per annum, but that the project will be executed in three phases, with the first phase producing 10 metric tonnes by 2008. He said a final decision to invest in the first phase of the project will be taken in 2006 to ascertain the financial involvement of the three partners, while other partners will be needed for the remaining phases. He said the new plant is designed to meet Nigeria's target of 70 metric tonnes of LNG by 2009. The first LNG -- the Nigeria Liquefied Natural Gas (LNG) -- is the single largest industrial investment in Africa, exporting LNG to buyers in Europe and America. It is owned by the NNPC, Anglo-Dutch Shell Gas, TotalFinaElf and Italy's Agip under a joint venture partnership.