Statoil Plans New LNG Plant

According to the Norway Post the world's first floating LNG production and offloading plant is being planned by Statoil after they discovered gas reserves in the Nnwa (antilope) field off the coast of Nigeria. The estimated costs for the development plant is NOK 40 billion. The gas will need to be liquified and exported to the U.S market as the market for gas in Nigeria is limited. Statoil is ready to proceed with the engineering of the plant and they are expecting that the plant may start production with approximately 5,1 million tonnes LNG annually in 2007.