ConocoPhillips Purchases an LNG Cargo for Zeebrugge Terminal in Belgium
HOUSTON.- ConocoPhillips [NYSE: COP] announced today that the company has acquired its first LNG cargo for the Zeebrugge liquefied natural gas (LNG) terminal in Belgium. The cargo was delivered in mid-December, 2008. In February 2008, ConocoPhillips entered into an agreement with an affiliate of GDF SUEZ which provides ConocoPhillips long-term access to the Northwest Europe LNG market through GDF SUEZ’s regasification capacity at the Zeebrugge terminal. This arrangement has diversified ConocoPhillips’ LNG market access position in the Atlantic Basin by adding access in Northwest Europe to the company’s existing regasification capacity in the Freeport LNG terminal and planned capacity in the Golden Pass LNG terminal, both located in the U.S. Gulf of Mexico.
“ConocoPhillips has provided reliable natural gas supply to Northwest Europe for many years and is pleased to play a role in improving opportunities to supply natural gas in the form of LNG to this growing regional market,” says Todd Fredin, president, ConocoPhillips Commercial, Europe, Africa and Middle East region.
Under a separate earlier agreement, ConocoPhillips also agreed to provide GDF SUEZ market access through ConocoPhillips’ regasification capacity in the Freeport LNG terminal in Texas, expected to start in mid-2010.
ConocoPhillips is an integrated energy company with interests around the world. For more information, go to www.conocophillips.com.
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