Edit ModuleShow Tags

Statoil to Expand US LNG Capacity


Published:

A non-binding letter of intent has been signed by Statoil with US-based Dominion energy company, giving 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 terminal in Maryland, U.S.A.

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 meters.

Regasification and pipeline capacity for onward transport to customers will also increase by an annual quantity totaling approximately 7.7 billion cubic meters. The new plant is scheduled to become operational in November 2008.

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 U.S.A., and was reopened last August after being mothballed since 1980.

Edit ModuleShow Tags

Archive »Recent Articles

Roberto Chellini

It is with great sadness that we report the passing of Roberto Chellini recently in Florence, Italy. He was 82 years old.

Nat Gas Output Expected To Grow 62%

Worldwide natural gas production is expected to increase 62% by 2040, according to the U.S. Energy Information Administration’s (EIA’s) International Energy Outlook 2016 and Annual Energy Outlook 2016.

Capstone Puts Its Signature On New Order

Capstone Turbine Corp. received an order for two Signature Series microturbines (the C1000S and C600S) for an oil and gas platform off the California coast.

A New Way For Bently

New Way Air Bearings has acquired the assets of Bently Pressurized Bearing Co., Minden, Nevada.

Siemens Invests in Additive Manufacturing

Siemens has acquired 85% of Materials Solutions Ltd., a specialist in additive manufacturing (AM) processing and production, located in Manchester, U.K. The remaining 15% will be held by the founder of the company, Carl Brancher.