Total S.A.
18 September 2003
LNG Sales & Purchase Agreement signed with Nigeria LNG
Paris, September 18, 2003 -Total announces that its wholly owned subsidiary
Total Gas & Power Ltd (TGP), and Nigeria LNG Ltd (NLNG) signed yesterday in
London a sales and purchase agreement relating to the supply of 1.2 billion
cubic metres per year of liquefied natural gas produced at the Bonny LNG plant.
The LNG deliveries will start in 2007 for a duration of 20 years.
'This agreement marks an important step in developing Total's downstream LNG
activities in the Atlantic Basin,' said Yves-Louis Darricarrere President of
Total Gas and Power.
Through TGP, the gas and electricity trading and marketing arm of Total, the LNG
will be distributed to various gas markets in Europe and North America.
With three trains in operation, two trains under construction and one additional
train under development, the Bonny liquefaction plant operated by NLNG is set to
become one of the world's largest LNG plant. Total holds a 15% stake in NLNG.
Total, already active in the fast growing spot LNG trade, intends to support the
future growth of its LNG activities by continuing to expand its own portfolio of
LNG sources and outlets.
****
Total is the fourth largest oil and gas company in the world with operations in
more than 120 countries. Total's activities cover the whole energy chain of the
petroleum industry: exploration, oil and gas production, refining and marketing,
trading and power generation. The Group is also a major player in chemicals
through its chemicals branch, Atofina. Total has 121,000 employees worldwide.
More information can be found on the company's website: www.total.com
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.