Total S.A.
13 February 2007
Total Gas & Power Limited and Nigeria LNG Sign LNG Sale
and Purchase Agreement
Paris, February 13 2007 - Total announces that its wholly owned gas and power
trading and marketing company Total Gas & Power Limited (TGPL) and Nigeria LNG
Ltd (NLNG) have signed today a Sale and Purchase Agreement (SPA) for
1.375 million tonnes per annum (MTPA) of liquefied natural gas to be produced by
NLNG train 7 for a period of 20 years.
The LNG is expected to be delivered to the United States and Mexico to meet the
increasing demand for natural gas in those countries, and in particular to
Total's regasification capacity at the Sabine Pass and Altamira LNG terminals.
'With this LNG purchase, Total is delighted to further expand the scope of its
cooperation with Nigeria, which is an important part of Total's portfolio and a
key producer in the LNG industry', declares Yves-Louis Darricarrere, president
Gas and Power, Total.
With five trains already in operation and Train 6 expected to commence
operations at the end of 2007, NLNG is a market leader in the LNG industry. The
Train 7 expansion project, with an 8.4 MTPA capacity, will bring the capacity of
the Bonny LNG plant to nearly 30 MTPA. Total holds a 15% stake in NLNG.
With the signing of this agreement, long-term purchases of LNG contracted by
Total are expected to grow to over 10 MTPA.
Total and LNG
A trailblazer in the LNG industry since 1964, Total has interests in six of the
world's largest liquefaction plants. The total capacity of these six plants
represents around 40% of global LNG production capacity. Approximately 30% of
the gas produced by Total in 2006 was dedicated to the LNG industry.
Total is strengthening its position across the LNG chain, as illustrated by the
recent signatures to acquire a stake in Brass LNG in Nigeria, in the Ichthys LNG
project in Australia and in the Qatargas 2 project in Qatar. After entry into
the South Hook terminal, Total also holds now interests in five regasification
terminal projects to ensure additional markets for products from the Middle
East, the Gulf of Guinea and, in the near future, Northern Europe.
2, place de la Coupole
La Defense 6
92 400 Courbevoie France
Tel: 33(1)47 44 58 53
Fax: 33(1)47 44 58 24
Jerome SCHMITT
Laurent WOLFFSHEIM
Philippe HERGAUX
Sandrine SABOUREAU
Robert HAMMOND (U.S.)
Tel.:(1)201 626 3500
Fax.:(1)201 626 4004
TOTAL S.A
Capital 5 981 907 383 euros
542 051 180 R.G.S. Nanterre
www.total.com
**********
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
The company news service from the London Stock Exchange
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