Shell and Statoil Seek Capacity Agreements for Cove Point LNG Terminal
Posted on Mar 15, 2006 in E&P, Liquefaction, Markets and Competition, Regas Terminals & Capacity | Comments Off on Shell and Statoil Seek Capacity Agreements for Cove Point LNG Terminal
Today’s World Gas Intelligence reports that Shell and Statoil’s negotiations with suppliers have not produced new contracts for imports into the Cove Point LNG terminal in Maryland. Shell’s two-year contract with Repsol has ended, but a Shell official says the company “currently utilizes its Cove Point capacity for spot cargoes and is working on the development of mid- and long-term supply agreements.” Statoil’s contracts with Sonatrach and Suez are slated to end in 2006, leaving Statoil without supply until the 550 MMcf/d Snohvit project in the Barents Sea is completed in 2008. [Subscription required]