Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Dennis Roth who wrote (784)	2/18/2006 6:04:14 AM
From: Dennis Roth	Respond to of 919

Chevron confirms pulling out of Nigerian Brass LNG project Lagos (Platts)--17Feb2006 Chevron Friday confirmed it has pulled out of the planned $3.5-bil Brass River LNG project in Nigeria. "We have a mutual understanding with the Nigerian government to that effect," a company spokesman told Platts. The government told Platts last week that it was already looking for other partners to join the project, which has already agreed LNG sales deals. Chevron had a 17% stake in the project with partners Eni, ConocoPhillips and state-owned NNPC. The final investment decision on the project is to be signed in the fourth quarter of 2006, with the first LNG expected to be delivered in the fourth quarter of 2009. The FID was originally billed for last year, but was shifted back until after the completion of feasibility studies. The plant will convert associated gas from nearby Eni and Chevron oil fields into LNG, primarily for shipment to US markets. It is to have an initial capacity of 10-mil mt/year and will be built near the Brass oil terminal in Bayelsa state, in southeastern Nigeria. "Remember, we are leading in the OK LNG and will still lead in the gas supply," the Chevron spokesman said. The OK LNG project is the outcome of a proposal from Chevron and BG, and another from Shell, to develop LNG projects in Olokola Free Trade Zone in western Nigeria.

To: Dennis Roth who wrote (784)	3/15/2006 6:38:46 AM
From: Dennis Roth	Read Replies (1) \| Respond to of 919

Suez signs memo for supply from Brass LNG ogj.pennnet.com By OGJ editors HOUSTON, Mar. 14 -- Suez LNG Trading SA has signed a memorandum of understanding with Brass LNG to buy 2 million tonnes/year of Nigerian LNG for 20 years. First delivery of LNG is expected in 2010. Brass LNG includes Nigerian National Petroleum Corp., which holds 49%, and partners Eni SPA, ConocoPhillips, and Chevron Corp., which hold 17% each. The LNG is destined primarily for North America, including the Suez Neptune project 22 miles off Boston, planned for 2010 operations. Suez Neptune will consist of a buoy system for mooring specially designed LNG ships equipped to store, transport, and vaporize LNG and discharge the natural gas through a subsea pipeline into the existing pipeline system (OGJ, Oct. 24, 2005, Newsletter). The US Coast Guard deemed the deepwater port application complete in October 2005, Suez said. Suez also has the option to divert cargos to other locations. The LNG supply will come from Brass LNG's new 10 million tonne/year, two-train liquefaction plant.