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Energy Watch : 13 April 2007
in-en.com  2007-4-13 11:26:22  

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 Eni to use Angolan LNG for U.S. marketItalian energy group Eni is looking to supply African liquefied natural gas to the United States after it buys a 13.6 percent interest in the Angola LNG project and a stake in a regasification terminal. Eni acquired a stake in Angola LNG from state group Sonangol after Exxon Mobil Corp. pulled out of the project.

The Angolan government has approved construction of a $4 billion LNG plant in Soyo, which could have the capacity to produce 5 million tons of gas annually. The plant is located in the north of the capital, Luanda.According to local reports, Eni said it will ship Angolan LNG to the U.S. market once the Soyo plant is built.

Eni said it is also seeking re gasification capacity in a Pascagoula, Miss., terminal to import 5 billion cubic meters of gas annually.Other energy firms also expressed an interest to ship their LNG to the U.S. market, including to Chevron, while Paris-based Total is interested in shipping LNG to France and BP is looking at Britain since it has capacity at the Grain LNG terminal. EU nations to boost re gasification capacity Members of the European Union expect to double re gasification capacity in the next years with the burgeoning demand for imported liquefied natural gas.

Available capacity of new re gasification terminals, both planned and those under construction, will grow from 74.8 billion cubic meters annually to around 142 billion cubic meters annually by 2010, according to Brussels Energy Commissioner Andris Piebalgs. North Sea offshore support vessel rates double The North Sea experienced a doubling of its support vessel rates in the past week due to tow work, which took up more tonnage from an already tight market, according to local reports.

Markets in Britain and Norway were surprised by the rig movements as oil companies completed their latest batch of wells and moved to begin other loads. An increase in chartered vessels over the second quarter could also create further scarcity of North Sea tonnage available on the spot market and open the way for ship-owners to raise rates.Closing oil prices, April 12, 3 p.m. London Brent crude oil: $68.73West Texas Intermediate crude oil: $62.73


 
Author:ANDREA R. MIHAILESCU  From:UPI  Edit:nicole
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