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Thu, 24 Mar 2016 12:15 - Updated Thu, 24 Mar 2016 12:15

Angola LNG, EDF Trading sign gas trade deal

Soyo - State-run Angola LNG Limited (ALNG) and EDF Trading Limited (EDFT) Wednesday in Soyo, northern Zaire province, signed a liquefied natural gas flexible trade accord.

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Angola is second crude oil producing country in Africa south of the Sahara

Photo: Inácio Sabino

The deal covers the delivery of various liquefied natural gas consignments in the period between 2016 and 2018.

The executive director of Angola LNG for marketing, Artur Pereira, considered the accord an important landmark for the company, as the firm is moving back into the market.

In his turn, the executive head of EDF Trading, John Rittenhouse, said the accord will lead to a closer cooperation with Angola LNG to optimise LNG into the European wholesale market.

Angola LNG will gather, process and trade about 5.2 million tons of LNG a year, in addition to propane, butane and  condensed elements from its Soyo plant.

Angola, with 1.8 million barrels a day, is one of Africa’s leading crude oil producing countries south of Sahara, only second to Nigeria.

Angola LNG Limited is shared by Angola’s Oil Company, Sonangol (22,8%), US Chevron (36,4%), British Petroleum (13,6%), Italian ENI (13,6%) and french Total (13,6%).

With a seven LNG tanker fleet and three loading quays, Angola LNG is there to lessen gas burning and ensure clean energy to customers and boost investment.

EDF Trading is a leading player across the global energy markets. It manages a portfolio of assets which give it the ability to source, supply, transport, store, blend, and convert physical commodities across the wholesale energy markets.

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