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Morocco, the North African state which produces only small volumes of oil and natural gas, is set to go ahead with the construction of an LNG reception terminal to import supplies and aid economic growth.
Gazprom has opened its first major natural gas development in more than five years and at the same time announced it had shortlisted several companies for a Baltic LNG project and would choose two equity partners in July.
The Passamaquoddy Tribe of Native Americans in the state of Maine has signed a contract to sell a 308-acre parcel of land to Quoddy Bay LNG near the town of Perry to help support the construction and early operation of a proposed LNG facility in Washington County.
Qatar Gas Transport Co. (Nakilat), the largest Middle East LNG shipper, said first-quarter net profit rose 20 percent to 23.2 million riyals ($6.4 million).
Gazprom, the Russian natural gas giant, has completed the purchase of its controlling stake in the Shakalin II LNG project in the Far East of Russia.
Australia's Woodside Petroleum, the operator of Australia’s North West Shelf LNG venture, said it planned to sell more spot cargoes to boost revenues after LNG income fell in the first quarter of 2007.
A ground-breaking ceremony has taken place at the Olokola Free Trade Zone in Nigeria to launch the OK LNG project, with Nigerian President Olusegun Obasanjo saying that the venture would help the country to boost its LNG earnings to $10 billion per annum by 2011.
Woodside Energy, the operator of the Australian North West Shelf venture, said sales revenue from its one-sixth share of the project dropped as LNG production of 33,660 tonnes per day was lower than the previous quarter’s 35,493 tonnes per day due to reduced output, warmer seasonal conditions and output restrictions as a result of tropical cyclones.
Dubai's LNG Hub developers will begin construction of the $2 billion storage and trading facility in early 2008 and will aim for capacity of 1.8 million cubic metres of LNG.
Salans, the international law firm, said it advised Italian power and energy companies Enel and Eni, on their acquisition for $5.83 billion earlier this month of natural gas assets formerly owned by Russian company Yukos and with LNG potential.
