Phillips, Nigerian government to study LNG facility - September 23, 2001

Providing coverage of Alaska and northern Canada's oil and gas industrySeptember 2001

Vol. 6, No. 9

Week of September 23, 2001

Phillips, Nigerian government to study LNG facility

Petroleum News Alaska Staff

Phillips Oil Co. (Nigeria) Ltd., a wholly owned subsidiary of Phillips Petroleum Co. and its co-venturers, the Nigerian National Petroleum Co. and Nigerian Agip Oil Co., along with the government of the Federal Republic of Nigeria, have signed a memorandum of understanding to develop a new liquefied natural gas facility in Nigeria.

Phillips said the MOU establishes a study team to evaluate an offshore LNG facility with a 5 million metric ton a year capacity using 850 million cubic feet per day of natural gas. The facility would be offshore in the Niger Delta near the existing Brass River crude terminal at a water depth adequate for LNG tankers.

The facility would be on stream by 2007 and would use gas from substantial reserves in existing onshore oil and gas fields operating by an existing joint venture among the companies (Phillips 20 percent; Nigerian National Petroleum 60 percent; Nigerian Agip Oil Co. (operator) 20 percent).

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