Investment to double in Angola LNG project


News from Luanda in Angola, suggests that total investment in the Angola LNG project may double to $8b, the project’s Director Paulo Oen is cited as saying by Angolan newspaper Jornal de Angola.

At a ceremony to mark the symbolic act of receiving 240 hectares of land prepared for construction of the gas factory by engineering company Bechtel, Oen is stated as saying that the increased investment was due to some unforeseen issues – linked to dredging and preparing the land for construction of the facility.

Angola LNG handed the area over to Bechtel for the construction of the factory, to be completed by 2012. The project involves 1,500 workers of various professions, of which 1,000 are of Angolan nationality.

The factory reported as having a planned capacity of 5.2 million tonnes-per-year (tpy) for natural gas, part of which will be will be provided to Angolan oil and gas management company, Sonangol, for domestic use and export, mainly to the American continent and Europe.

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