Press Esc to close

WorldOil

World Oil News Center



Angola, Trafigura JV seek to establish LNG trading group

LUANDA -- Angolan state oil firm Sonangol and a joint venture part-owned by energy trading house Trafigura are planning to jointly create a liquefied natural gas trading company, Trafigura said in a statement Thursday.

"We have an excellent opportunity to build a world class LNG-focused trading business by combining the strengths of our two companies," said Rute David, president of Sonaci, Sonangol' s trading arm.

"We intend to source products on the international market as well trading the volumes earned from Angola LNG Market Company' s tenders," she said.

The new company will hire teams in Geneva and Singapore, the statement said.

Angola is preparing to start exporting from its first LNG plant later this year.

The plant, a 5.2 million metric tons a year venture between Sonangol and Chevron, was supposed to begin commercial shipments at the beginning of 2012. However, the start of exports has been delayed several times, with first exports now expected in the second quarter of this year.

Dow Jones Newswires

02/28/2013

 

Bookmark and Share


WO DATA HUB

EngineeringTablesIcon-Large

Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.

WO SUPPLEMENTS

2013 Fracturing Technology

2013 Fracturing Technology

MEDIA CENTER

By Digital Publisher

Drill Bit Classifier World Oil published its renowned Drill Bit Classifier in September 2013. The Drill Bit Classifier is a comprehensive listing of major manufacturers' d...

ENERGY EVENTS

Upcoming Events