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First LNG cargo for the USA

September 2, 2003, 10:00 CEST

A first cargo of liquefied natural gas (LNG) is being delivered to Statoil today, 2 September, at the Cove Point terminal in the USA.

Purchased spot from Repsol, this cargo corresponds to roughly 80 million cubic metres of regassified natural gas.

“It represents a milestone for our LNG business in the USA and marks the start of sales with this commodity in this important market,” says Otto Granli, vice president for LNG sales and shipping.

The group is due to receive a further spot cargo later in September from another supplier. Final negotiations are also under way on long-term LNG deliveries to Cove Point.

“These will secure supplies until the Snøhvit field in the Barents Sea comes on stream in 2006,” says Mr Granli.

Statoil signed an agreement with El Paso Merchant Energy last year which gives it the right to one-third of Cove Point’s import capacity over 20 years.

Under a separate contract with El Paso Global LNG Company, the group has taken over a purchase contract covering 2.4 billion cubic metres of LNG annually from Snøhvit in the period 2006 to 2023.

Cove Point lies in Maryland, south-east of Washington DC.