Total hops aboard Qatargas II train
Posted: 11 December 2006
 Send this article
 Print this article
Total signed the final agreement formalizing the acquisition by Total of a 16.7% equity participating interest in the second train of Qatargas II. This agreement follows the signature of sale and purchase agreements under which Total will purchase up to 5.2 million metric tonnes of LNG per year from Qatargas II for a period of 25 years.
Taking advantage of Total˙s diversified and strong presence in the gas markets of the Atlantic basin, the LNG is primarily intended for deliveries in France , the United Kingdom and the Gulf of Mexico .
Qatargas II is an integrated project covering the development of two new LNG trains, each with an annual capacity of 7.8 million tonnes with the feed gas coming from Qatar ˙s giant North Field.
The sponsors of the Qatargas II project are now Qatar Petroleum, ExxonMobil and Total. Construction of the LNG trains at the Ras Laffan Industrial City in Qatar began in December 2004. The start-up of the second train of the Qatargas II project is presently targeted for winter 2008/2009.
Total will also hold an 8.35% interest in the South Hook LNG terminal located in Milford Haven, in South Wales ( United Kingdom ). The two-train facility is designed to process 15.6 million tonnes per year of LNG and is expected to begin operation with a first train in early 2008. Others partners are QP (67.5%) and ExxonMobil (24.15%).
A global LNG operator with equity sales of 7.7 million tonnes in 2005, Total is targeting average LNG production growth of 12% a year through 2010. The Qatargas II project will support the company's LNG expansion and diversification. |
