Chevron’s Angola LNG strikes flexible sales deal with EDF Trading
LONDON, March 24 (Reuters) -- Angola LNG, which is partly owned by Chevron, said it had agreed to a flexible sales deal with EDF Trading to supply liquefied natural gas (LNG).
The sales agreement covers multiple cargoes for delivery on an ex-ship basis (DES) from 2016 through to 2018, Angola LNG and EDF Trading said in a statement.
The Angola LNG export project restarted in January, after a rupture on the flare line forced a shutdown in April 2014.
"This marks an important milestone for Angola LNG as it re-enters the market," said Artur Pereira, CEO of Angola LNG Marketing.
John Rittenhouse, CEO of EDF Trading, said the company would be working closely with Angola LNG to "optimize the LNG through the European wholesale market."
Earlier this month, Chevron said the plant was due to resume exports in the second quarter of this year and most of the first production would be sold on the spot market.
Chevron has a 36.4% share in the plant, while Angolan state oil firm Sonangol has 22.8%. Other stakeholders include Total, BP and Eni.
(Reporting by Sarah McFarlane; Editing by David Evans and Alexander Smith)
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