ERHC Energy Inc (ERHE)

[Nightdaytrader]

Liquefied natural gas plant on Bioko Island

Posted by: Nightdaytrader Date: Saturday, October 10, 2009 11:32:38 PM
In reply to: None Post # of 185655

Liquefied natural gas plant on Bioko Island

The island of Bioko is home to Equitorial Guinea's capital city, Malabo.... They have a relatively new LNG production facility.

Maybe the JDZ block 2 can ship gas there....

ND9
***********************************************
Liquefied Natural Gas

Marathon is a pioneer in liquefied natural gas (LNG) production and has a major stake in one of the longest, continuously running LNG plants in the world — the first to be built in the United States. The Company has established an Atlantic Basin LNG business that encompasses both ends of the LNG process - the liquefaction, or source side, and the regasification, or marketing side. This builds upon a long running Alaska LNG business where Marathon, along with its partner ConocoPhillips, has owned an LNG liquefaction plant and associated shipping for almost 40 years.

Equatorial Guinea
Operations in Equatorial Guinea are a key component of Marathon’s integrated gas strategy. LNG from this West African country promises to play an increasingly important role in meeting the growing energy needs of the Atlantic Basin.

Marathon and its partners' LNG Train 1 facility on the northwest side of Bioko Island encompasses a 3.7 mmtpa liquefaction plant that is aligned with, and integrated into, Marathon's Equatorial Guinea gas processing operations. Natural gas is purchased from the Alba Field participants (Marathon, Noble Energy, Inc. and a government-owned entity) under a long-term gas supply agreement. Approximately 3 gross tcf of dry gas from the Alba Field will be processed through the LNG facility under a 17-year offtake agreement with BG Gas Marketing Ltd. Marathon and its partners expect to source additional gas in the region to supply the train following expiration of the contract.

Marathon holds a 60 percent interest in the LNG project, along with partners Sonagas (25 percent), Mitsui & Co. (8.5 percent) and a Marubeni Corporation subsidiary (6.5 percent).

http://www.marathon.com/Global_Operations/Integrated_Gas/Liquefied_Natural_Gas/