LNG

Feb 8 (LNGJ) - Norwegian energy group Statoil said development of natural gas in the Snohvit gas field in the Barents Sea for LNG exports was still a key part of its strategy. It pointed to changing dynamics in the LNG market, including exports to Asia. Statoil also holds assets in the Marcellus shale in the US which could be part of an LNG export project from Cove Point in Maryland. The basics of the strategy were outlined with its latest earnings that saw fourth-quarter profits almost double from the year-ago period to the equivalent of about $4.5 billion as it sold some assets and benefited from higher energy prices.