Angola LNG inks deal with EDF Trading
Chevron’s Angola LNG and EDF Trading, a unit of EDF, said they have entered into a sales deal for the delivery of liquefied natural gas.
Under the “flexible” deal, Angola LNG will deliver multiple cargoes on an ex-ship basis (DES) from 2016 through to 2018, the two companies said in a joint statement on Wednesday.
The Angola LNG export plant in Soyo, which sent its first ever cargo of chilled gas in June of 2013, was shut down in April 2014 after a major rupture on a flare line.
The Chevron-operated $10 billion LNG project started recommissioning process in January this year. The first cargo after the 2014 incident is expected to leave Soyo LNG export plant in the second quarter.
This deal marks “an important milestone for Angola LNG as it re-enters the market,” said Artur Pereira, CEO of Angola LNG Marketing.
John Rittenhouse, chief executive of EDF Trading said that, through this agreement, the company will be working “closely with Angola LNG to optimise the LNG through the European wholesale market”.
The LNG plant is a single-train facility able to produce 5.2 million tonnes per year. Angola LNG also has a dedicated fleet of seven LNG tankers.
Angola LNG is a joint venture between Chevron (36.4%), Sonangol (22.8%), BP (13.6%), Eni (13.6%), and Total (13.6%).