STATE-RUN ANGOLA LNG SIGNS GAS TRADE DEAL WITH EDF TRADING
SOYO, ANGOLA State-run Angola LNG Limited (ALNG) and EDF Trading Limited (EDFT), a leading player across the global energy markets, have signed a liquefied natural gas (LNG) flexible trade agreement in this town in the northern Angolan province of Zaire.
The agreement signed here Wednesday covers the delivery of various liquefied natural gas consignments between 2016 and 2018.
The Executive Director of Angola LNG for Marketing, Artur Pereira, described the agreement as an important landmark for the company, as the firm returns to the market, while the head of EDF Trading, John Rittenhouse, said the accord would lead to closer co-operation with Angola LNG to optimise LNG deliveries to the European wholesale market.
Angola LNG will gather, process and trade about 5.2 million tons of LNG a year, in addition to propane, butane and condensed elements from its Soyo plant. Angola, with an output of 1.8 million barrels per day, is one of Africa’s leading crude oil producers, second only to Nigeria in sub-Saharan Africa.
Angola LNG Limited is 22.8 per cent owned by Angola’s national oil company, Sonangol, while Chevron of the United States has a 36.4 per cent stake, British Petroleum 13.6 per cent, Italy’s ENI 13.6 per cent) and France’s Total 13.6 per cent.
With a seven-LNG tanker fleet and three loading quays, Angola LNG was developed to reduce the flaring off of gas from Sonangol’s oil fields and ensure the supply of clean energy to customers and boost investments.
EDF Trading manages a portfolio of assets which give it the ability to source, supply, transport, store, blend, and convert physical commodities across the wholesale energy markets.