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Angola LNG inks deal with RWE

LUANDA, September 12, 2017 – Angola LNG announced an LNG sales agreement with RWE Supply & Trading on Monday. 

A week earlier, Angola LNG secured a sale contract with Vitol. The details of both contracts remain undisclosed.

 

Beset by problems since it was commissioned in 2013, the Angola LNG facility restarted operations in December 2016. It is expected to produce 3.5 million tonnes for export in 2017, a steep increase from 770,000 tonnes in 2016.

“Angola LNG is operating safely and reliably. This agreement is a further demonstration of Angola’s increasing role in global LNG, providing LNG all over the world and establishing relationships with a series of important international LNG market players,” the company said in a statement. 

When construction began in November 2008, the initial plan for the plant was for all the output to be delivered to the Pascagoula import terminal in Mississippi, USA. However, like other projects targeting the USA when it was expected to become one of the world’s largest consumers of LNG, Angola LNG abandoned its long-term commitments to North America in response to low US gas prices sparked by the shale boom in the country. Instead, it focused on what the then Chevron vice-chairman George Kirkland described at the time as a “good, robust spot market for natural gas,” eyeing Europe and Asia.

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