09 September 2010 09:12 [Source: ICIS news]
LONDON (ICIS)--Total has signed an agreement with ?xml:namespace>
Australian oil and gas exploration and production company
Total said that pursuant to the agreement it would join the whole integrated LNG chain, with production from coal seam gas fields in
The French producer would through the agreement have the commitment to offtake 1.5m tonnes/year of LNG from the plant.
The Gladstone LNG liquefaction plant will consist of two trains with a total production capacity of 7.2m tonnes/year.
With the final investment decision expected in the next few months, the forecast start-up date for the first train would be in 2014, said Total.
Yves-Louis Darricarrere, president of Total Exploration and Production, said the acquisition reflected the group’s commitment to the development of the LNG business and would give it access to major long-term resources at a competitive price of around $2/bbl.
“Following the acquisition of an interest in the Ichthys LNG project in 2006, for which a final investment decision shall be taken by the end of 2011, the GLNG project is a new milestone for Total in
Total also said it would join forces with
($1 = €0.79)
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