Partners to Proceed with Angola LNG Project

Total announces the Final Investment Decision for the Angola LNG Project. Total owns a 13.6% share of Angola LNG Limited alongside Sonagas (36.4%), Chevron (36.4%) and BP (13.6%).

The project shareholders have authorized Angola LNG Limited to proceed with the construction and implementation of the Project following receipt of approvals from the Angolan authorities on 10 December 2007.

The Angola LNG project will process approximately 1 billion cubic feet of associated gas per day from offshore producing blocks, particularly from Blocks 17 and 32 (operated by Total E&P Angola, a wholly owned subsidiary of Total), from Blocks 0, 14 and 31, in which Total E&P Angola has interests, from Blocks 15 and 18 as well as gas from non-associated gas fields dedicated to Angola LNG Limited.

The offshore gas will be collected and transported to an onshore liquefaction plant to be built near the town of Soyo in the Zaire Province. The plant will produce 5.2 million tons per year of LNG together with related gas liquids products. It will also process and treat up to 125 million cubic feet per day of gas for the domestic market.

First LNG from the project is expected in early 2012. LNG will be shipped by project-chartered vessels to the Gulf LNG Energy regasification terminal, which will be developed near Pascagoula, Mississippi. Regasified LNG will be sold to the US gas marketing affiliates of the partners. Accordingly, Total Gas & Power North America will buy and market Total's 13.6% share, around 100 million cubic feet per day.

The project will minimize exposure to natural gas flaring and greenhouse gas emissions from offshore oil producing areas, facilitate continued offshore oil development, and enable the establishment of a domestic gas business within Angola.

The construction and operational phases of the project will contribute to the local employment, particularly in Soyo and the Zaire province, and should also enable the development of a sustainable activity for Angola.