26 May 2007 - 11:06
  • News Code: 105553

Marathon Oil Corp. and its partners in Equatorial Guinea LNG Co. Ltd. have shipped their first cargo 6 months ahead of the original schedule.

The cargo was shipped from Train 1 on Bioko Island after the $1.5 billion project was completed within budget.

 

BG Gas Marketing Ltd. owns the cargo under a 17-year agreement calling for the plant"s full capacity of 3.4 million tonnes/year.

 

The first cargo was destined for Lake Charles, La., although BG has the option to divert the cargo elsewhere.

 

Interest holders in the plant are Marathon 60%, state-owned Sonagas 25%, Marubeni Gas Development Co. Ltd. 6.5%, and Mitsui & Co. Ltd. 8.5%.

 

PIN/OGJ.COM

News Code 105553

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