Total: No Decision Yet on Brass LNG
Wed, Mar 4, 2009 | News
Total Says No Decision Yet on Nigeria Brass LNG
AFX News Limited Thursday, February 26, 2009
French oil major Total has yet to make a final investment decision on Nigeria’s $8.5 billion Brass LNG project, but work is still progressing on its development, a company executive said on Thursday.
Shareholders were originally due to take a final investment decision by the end of 2006, but ConocoPhillips pushed for an indefinite postponement following a surge in militant attacks and kidnappings in the Niger Delta.
Total executives have said a decision would be made sometime this year.
“Brass is still on course even though the foreign investment decision hasn’t been made,” Charles Ngoka, business director for Total Nigeria, told Reuters on the sidelines of an oil and gas conference in Abuja.
Ngoka said Brass LNG officials were trying to determine locations to develop the liquefied natural gas plant.
Total has a 17 percent stake in the project. Other partners include Eni, ConocoPhillips and state-run Nigerian National Petroleum Corp.
Tags: brass, chevron, lng, nigeria, total
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