Angola signs MoU to develop a liquefied natural gas plant



12-06-2019
Read : 7 times
Construction Review Online
Source

The government of Angola through the Ministry of Mineral Resources and Petroleum, Ministry of Energy and Water and Ministry of Finance signed a memorandum of understanding (MOU) with New Fortress Energy LLC for the development of a liquefied natural gas (LNG) terminal to supply natural gas for power generation. The MoU was signed in Luanda by New Fortress Chairman and CEO Wes Edens and Hon. Diamantino Azeved, Minister of Mineral Resources and Petroleum. The President of Angola also approved the deal made.

Under the agreement, New Fortress would fund, build, and operate an LNG import and regasification terminal and supply gas to power industrial facilities across Angola and work with the Ministry of Mineral Resources and Petroleum to explore the development of additional indigenous natural gas resources and a domestic liquefaction facility.

According to New Fortress Chairman and CEO Wes Edens, the partnership will provide cleaner, affordable natural gas to Angola, creating significant economic and environmental benefits.

“With Angolas transition to a gas economy, significantly lower fuel costs will encourage further investment and directly benefit Angolans. We commend President Lourenço and the government of Angola for their leadership and look forward to building this historic partnership,” said the CEO.

“The signing of this MOU is the first step in moving Angola to become a gas economy. This unprecedented event involves the approval of three ministries and is supported by the President of Angola to move the country in a new direction,” acknowledged Hon. Diamantino Azeved, Minister of Mineral Resources and Petroleum.

Sign up for Free Daily Building and Construction News