allAfrica.com: Shell Plans to Double LNG Sales: "Our LNG sales will double between now and the end of the decade," Shell chief executive, Jeroen van der Veer said. (ShellNews.net) 14 Dec 04
This Day (Lagos)
Posted to the web December 14, 2004
Anglo/Dutch oil giant, Shell, says it planned to double its Liquefied Natural Gas (LNG) sales by the end of this decade to retain its leading role in the growing market.
The Shell plan announced late last week, came just as the director of Gas and New Business development, Shell Petroleum Development Company of Nigeria Limited (SPDC), Mr. Steve Ratcliff, has been transferred to Iran after five years in SPDC.
Ratcliff was in-charge when Shell along with other two foreign multinationals, teamed up to launch the Nigeria LNG project into a world class, and fasted growing LNG project in the world.
"Our LNG sales will double between now and the end of the decade," Shell chief executive, Jeroen van der Veer said.
Shell is the top private supplier of LNG with sales of about 10 million tonnes a year.
"We are determined to keep our leadership in the expanding LNG business, investing in new supply projects and linking them to markets by developing import terminals and securing sales," van der Veer said.
Shell and TransCanada in November proposed a $700 million LNG terminal for Long Island Sound, New York, the latest of several LNG projects to help meet surging gas demand in the US.
The oil giant is teaming up with Iran national oil company and another oil multinational to float a new LNG plant in the Gulf country.
According to Ratcliff, who spoke at a send forth dinner held for him by the Nigerian National Petroleum Corporation (NNPC) in Lagos at the over the weekend, he would be using the experience gained in progressing Nigeria's Bonny LNG plant from two trains to six trains, in the developing the Iranian LNG plant.
" I hope that in 10 years time, the Iranian LNG project will achieve the success recorded by the Nigeria LNG in the past five years and in another five years to come," he said.