Africa Oil Business News

Sat03292014

Last update02:56:27 PM

Angola LNG to Produce and Trade 5.2 Million Tons of Liquefied Gas

The Angola LNG Company will collect, process and trade, each year, about 5.2 tons of liquefied natural gas, besides producing also propane, butane and condensed gas, at the firm's premises in Soyo Municipality, in the northern Zaire Province.

Angola LNG is one of the greatest and most modern investments of the Angolan government (USD 10 billion), reads a note from the institution, which reached ANGOP last Wednesday.

This project is intended to be a solution for the reduction of carbon emission and it is considered a source of clean energy.

According to the document Angola LNG Company shareholders are Sonangol (22.8%), Chevron (36.4%), BP (13.6%), ENI (13.6%) and Total (13.6%).

Angola is sub-Saharan Africa's second main producer of crude-oil.

 

Angola Press

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