2nd Aug 2006 09:55
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 theBrass 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 bebuilt, with a capacity of 5 million metric tons per year each, with most of theLNG intended for export to Europe and the U.S. The feed gas will be suppliedfrom the partners' productions, with Total accounting for a third, or 570million 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 itsNigerian gas resources from onshore fields, offshore clusters under developmentand Oil Mining Leases (OML) 112 and 117, in which the Group recently acquired a40% interest. The project is a further building block in Total's strategy ofgrowing and diversifying its production in Nigeria. The interest is in addition to Total's 15% stake in NLNG, whose capacity wasrecently expanded to nearly 18 million metric tons per year with thecommissioning of Trains 4 and 5 earlier this year. Train 6, with a capacity of 4million metric tons per year, is under construction and scheduled to come onstream in 2007. A top-tier global LNG operator with equity sales of 7.7 million metric tons in2005, Total is targeting average LNG production growth of 12% a year through2010. The Brass LNG project will support the Group's post-2010 LNG expansion anddiversification. ****** Total is one of the world's major oil and gas groups, with activities in morethan 130 countries. Its 95,000 employees put their expertise to work in everypart of the industry - exploration and production of oil and natural gas,refining and marketing, gas trading and electricity. Total is working to keepthe world supplied with energy, both today and tomorrow. The Group is also afirst rank player in chemicals, www.total.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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