Total S.A.
02 August 2006
Total Acquires Interest in Nigeria's Brass LNG Project
Paris - August 2, 2006 - Total has acquired today Chevron's interest in the
Brass LNG project in the Niger Delta, 90 kilometres west of Bonny Island,
Nigeria. Its current partners are NNPC, Eni and ConocoPhillips.
Project sanction for the first two trains of Brass LNG is expected by year-end,
with production scheduled to start up in 2011, Initially, two trains will be
built, with a capacity of 5 million metric tons per year each, with most of the
LNG intended for export to Europe and the U.S. The feed gas will be supplied
from the partners' productions, with Total accounting for a third, or 570
million cubic feet per day, over a period of at least 20 years.
The Brass LNG project will enable Total to step up the monetization of its
Nigerian gas resources from onshore fields, offshore clusters under development
and Oil Mining Leases (OML) 112 and 117, in which the Group recently acquired a
40% interest. The project is a further building block in Total's strategy of
growing and diversifying its production in Nigeria.
The interest is in addition to Total's 15% stake in NLNG, whose capacity was
recently expanded to nearly 18 million metric tons per year with the
commissioning of Trains 4 and 5 earlier this year. Train 6, with a capacity of 4
million metric tons per year, is under construction and scheduled to come on
stream in 2007.
A top-tier global LNG operator with equity sales of 7.7 million metric tons in
2005, Total is targeting average LNG production growth of 12% a year through
2010. The Brass LNG project will support the Group's post-2010 LNG expansion and
diversification.
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Total is one of the world's major oil and gas groups, with activities in more
than 130 countries. Its 95,000 employees put their expertise to work in every
part of the industry - exploration and production of oil and natural gas,
refining and marketing, gas trading and electricity. Total is working to keep
the world supplied with energy, both today and tomorrow. The Group is also a
first rank player in chemicals, www.total.com
This information is provided by RNS
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