Angola LNG, Vitol sign multi-year LNG sales agreement‍
- Deal will see cargoes delivered to trading house Vitol globally

Angola's only LNG export project Angola LNG entered into a multi-year sales agreement that will deliver cargoes to Vitol around the world, Angola LNG Limited said on Monday.

"Vitol has already purchased many LNG cargoes from Angola LNG, and we look forward to continuing our successful relationship," said Artur Pereira, Angola LNG Limited's CEO.

“We are delighted to have entered into this agreement with Angola LNG. It is an exciting initiative for Vitol, we have a long history of investment and partnership across Africa and are pleased to add these LNG purchases to our portfolio," said Pablo Galante Escobar, Head of LNG at Vitol.

Angola LNG project is worth around $10 billion.

The project built to create value from offshore gas resources, is one of the largest ever single investments in the Angolan oil and gas industry.

Offering a fleet of seven LNG vessels and three loading jetties the project aims to produce and deliver 5.2 million tonnes of LNG per year to the global market.

Chevron has a 36.4 percent share in the project while Angola's state company Sonangol has 22.8 percent. Other stakeholders are Total, Eni and BP.

By Murat Temizer

Anadolu Agency


04 Sep,2017