Norsea Pipeline Group Seeks Approval for LNG Terminal at Teesside

ConocoPhillips' subsidiary, ConocoPhillips Petroleum Company U.K. Ltd., has received approval of the Norsea Pipeline Limited Shareholders to make an application on their behalf to obtain planning permission for a Liquefied Natural Gas (LNG) regasification facility and Combined Heat and Power (CHP) plant at their existing Oil Terminal site at Teesside, U.K.

Suitable land has been identified within the existing Norsea Oil Terminal for potential LNG and CHP facilities. The planning permission process is expected to be complete by the middle of 2007. Once a final investment decision to proceed with construction of the facilities has been made, and subject to planning permission and other approvals, the facilities could be operational within 3 to 4 years.