Angola LNG and Glencore sign LNG sales agreement
Angola LNG Limited ("ALNG") and Glencore Energy UK Limited ("Glencore") have executed a multiyear LNG sales agreement, under which ALNG will deliver LNG cargoes to Glencore at destinations around the world.
Angola LNG Marketing Ltd said: "Following on from the other sales agreements recently announced by ALNG, this is another step in building a strong sales portfolio with some of the most important players in the global LNG market. We look forward to our relationship with Glencore. These sales are all underpinned by the safe and reliable operations at ALNG's plant in Soyo."
Glencore commented: "Glencore is delighted to establish this long-term contract with ALNG. The agreement provides security of supply for both companies in their expanding portfolios and we look forward to a successful partnership."
For more information contact:
Angola LNG Marketing Ltd
T +44 20 3697 5497
T: +41 41 709 2462
Notes to editors:
About Angola LNG
The Angola LNG Project is an integrated gas utilization project. It includes an onshore LNG processing Plant, a marine terminal and loading facilities, and potential Non-Associated Gas (NAG) development.
Angola LNG contributes to the development of the Angolan oil and gas industry, and reduces emissions of greenhouse gases by establishing a new source of clean energy. Angola LNG's mission is to contribute to the elimination of gas flaring, provide clean and reliable energy to customers and provide economic benefits to Angola, local communities and its shareholders.
Angola LNG draws its gas supply from a diverse range of oil-producing blocks in Angola. Currently the gas pipeline network transports feedstock from offshore Blocks 0/14, 15, 17, 18 and 31 to the onshore plant. Angola LNG gathers, processes, sells and delivers up to 5.2 million tons per year of LNG - plus natural gas for local use and liquids (propane, butane and condensate) - from its plant in Soyo, Angola.
Angola LNG competes effectively in the market with its dedicated shipping fleet and flexible sales strategy, which enables it to provide attractive supply opportunities to buyers.
Shareholders of Angola LNG Limited are Sonangol (22.8%), Chevron (36.4%), BP (13.6%), Eni (13.6%), and Total (13.6%).
Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities. The Group's operations comprise around 150 mining and metallurgical sites, oil production assets and agricultural facilities.
With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of more than 90 offices located in over 50 countries.
Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, oil and food processing sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 155,000 people, including contractors.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.