Marathon Oil Corporation and its partners have announced they have executed a Heads of Agreement (HoA) with the Government of the Republic of Equatorial Guinea and necessary third parties.
The agreement establishes a framework for the processing of third-party natural gas volumes through the Alba Plant LLC’s LPG processing plant and EG LNG’s LNG production facility, both located in Punta Europa, EG. Marathon Oil, through its wholly owned subsidiaries, is the majority shareholder in both Alba Plant LLC and EG LNG.
With the Punta Europa facilities becoming a hub for the potential development of local and regional natural gas, the project will sustain the operating rates of the Alba Gas Plant and prolong the life of the EG LNG plant, both of which are proven integrated gas assets with high reliability and low capital demands. The existing processing facilities require only minor modifications to accommodate the third-party gas. New volumes from the third party are anticipated early in the next decade.
Read the article online at: https://www.lngindustry.com/liquefaction/11052018/marathon-oil-to-process-third-party-gas-volumes-through-existing-equatorial-guinea-infrastructure/