Angola LNG Partners Prefer Terminal at Pascagoula

Sonangol, Chevron and their co-venturers in the Angola LNG Project, BP, ExxonMobil and Total, say as part of the development activities of the Angola LNG Project, the partners have recently agreed to initiate a period of exclusive negotiations with Gulf LNG, developer of the Clean Energy regasification facility near Pascagoula, regarding a TUA (Terminal Use Agreement) based on their submission during a competitive bid process. The successful negotiation of this agreement will allow for 100% of the LNG produced by the Angola LNG project to be received at the Mississippi Gulf Coast regasification facility.

The Angola LNG Project is set to be a joint development between the state oil company of Angola -- Sonangol (22.8%) -- and local affiliates of Chevron (36.4%), ExxonMobil (13.6%), Total (13.6%) and BP (13.6%).