Statoil to Expand US LNG Capacity

Wednesday, February 11, 2004
A non-binding letter of intent has been signed by Statoil with US-based Dominion energy company. This gives Statoil the exclusive right to negotiate a deal which will secure access for the group to extra capacity at the Cove Point liquefied natural gas (LNG) terminal in Maryland. If the agreement is concluded, Statoil will take the entire capacity increase for a 20-year period. The group will thus more than quadruple the amount of capacity available to it at the terminal. Dominion is planning to expand the capacity at the terminal, where LNG is stored and regasified before being piped to customers. The expansion includes two new storage tanks with a total capacity of approximately 195 million cubic metres. Regasification and pipeline capacity for onward transport to customers will also increase by an annual quantity totalling approximately 7.7 billion cubic meters. The new plant is scheduled to become operational in November 2008. The group already markets significant amounts of natural gas from LNG through Cove Point, which lies in Maryland south-west of Washington DC. It currently controls a third of LNG reception capacity at the Cove Point terminal, representing an annual capacity of approximately 2.4 billion cubic metres. Between 2006 and 2023, Statoil is due to deliver 2.4 billion cubic meters of LNG annually to this facility from its Snohvit development in the Barents Sea. Until production from this field begins, the group is buying LNG from other producers in Algeria and Trinidad and Tobago. Cove Point is one of four LNG terminals in the USA, and was reopened last August after being mothballed since 1980.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

LNG

NASSCO Delivers First ECO Class Tanker for SEA-Vista

On Thursday, April 28, 2016, General Dynamics NASSCO delivered the first ship in a series of three ECO Class tankers currently under construction for SEA-Vista LLC.

Crowley to Christen 3rd LNG-ready Product Tanker

Crowley Maritime Corp. announced it will hold a christening ceremony Thursday, May 5 in New Orleans for the newly built Louisiana, the company’s third of four new Jones Act product tankers.

India Seeks Stake in Iran LNG Terminal

Indian Petroleum Minister Minister Dharmendra Pradhan says India has expressed interest in setting up an LNG terminal at Chahabar port in Iran to ship back home natural gas from Persian Gulf nation,

 
 
Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0617 sec (16 req/sec)