Total in ADGAS till 2019

Jul 23, 1997 02:00 AM

July 3, 1997 French Total has signed an agreement with the Government of Abu Dhabi and the Abu Dhabi National Oil Co. (ADNOC), extending its interest in the Abu Dhabi Gas Liquefaction Co. (ADGAS), until the year 2019. Alongside Mitsui and British Petroleum, Total has been an ADGAS partner since 1974. The three trains at ADGAS' Das Island liquefaction plant currently produce more than 5 million tons of LNG per year.
Total said that in addition to extending the contract, Abu Dhabi increases its interest in the first two liquefaction trains from 51 to 70 %. As a result, the investment structure for each of the three ADGAS trains is identical, with Total holding a 5 % interest.

Total is also operator in the Yemen LNG project and owns shares in Oman LNG and Qatargas. It says that by 2000 it will be the leading supplier of gas to the Bontang plant, in Indonesia, the world's largest liquefaction complex.

Source: not available
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