Chevron Pulls Out of $5B LNG Project

Wednesday, March 08, 2006
Chevron has pulled out of a $5-billion liquefied natural gas project in Nigeria because the government wants to use its gas for a competing project. Chevron, ConocoPhillips and ENI each have a 17% interest in the $5 billion Brass LNG project, along with state-run Nigeria National Petroleum Corp (NNPC) with 49%. But the California-based company also has an interest in a competing LNG project, the $6-billion Olokola plant, which is being fast-tracked by the government of President Olusegun Obasanjo. Chevron had planned to bring offshore gas to the Brass project, and the remaining Brass LNG investors are now in talks with other potential shareholders and gas suppliers, including France's Total. NNPC has fast-tracked the 20-million ton-per year Olokola project, where Chevron and NNPC have Royal Dutch Shell and BG as partners, and NNPC expects a final investment decision in the third quarter of this year. The final decision on 10-million ton-per-year Brass LNG is not expected until three months later.

Ports

Krishnapatnam Port, Maersk Launches Mainline Service for China

Krishnapatnam, the country’s largest all-weather; deep water port on the east-coast of India has marked another milestone towards operational excellence as it launched

India Shipping Ministry Enlarges Scope of Sagarmala

India's Ministry of Shipping has formulated a revised Central Sector Scheme to provide financial support to Major and Non-Major Ports as well as State Governments

MPA Academy’s Port Management Program Attracts Global Maritime Officials

The 3rd Port Management Programme (PMP), one of the flagship programmes developed by the MPA Academy for port masters, harbour masters and middle managers from

Energy

Jt Study by MOL, Yokohama University for Improving Ocean Shipping Market Forecast

Mitsui O.S.K. Lines, Ltd. today announced that the company and its subsidiary MOL Information Systems, Ltd. have signed a contract with Yokohama National University

DNV GL Launches New Approach to Manage Uncertainty in Risk Assessment

There is increasing emphasis from regulators on addressing uncertainty in risk assessments to improve safety. DNV GL’s new paper, ‘Enabling confidence – addressing uncertainty in risk assessments’,

Gasum, Wärtsilä Join Forces to develop Gas Value Chain

New joint co-operation between Gasum and Wärtsilä aims to develop the utilization and distribution of natural energy gases in marine and land markets. Gasum,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Salvage Ship Repair Ship Simulators 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: 0.0741 sec (14 req/sec)