Afren, EDF, Gasol to form Africa LNG joint venture

Afren has signed a memorandum of understanding (MoU) with Electricité de France (EDF) and Gasol to examine establishing a gas aggregation joint venture to identify and develop onshore and offshore stranded gas assets in certain West African countries.

Offshore staff

LONDON -- Afren has signed a memorandum of understanding (MoU) with Electricité de France (EDF) and Gasol to examine establishing a gas aggregation joint venture to identify and develop onshore and offshore stranded gas assets in certain West African countries.

The proposed JV will develop gas to proven status, construct collection networks to aggregate, and deliver the gas to a central processing hub for domestic use and/or export as LNG.

It is envisaged that Afren and EDF will share participation in developing the exploration and production gas assets to proven status, and that EDF and Gasol will share participation in the collection of the gas, and its processing, liquefaction and monetization, the companies say.

09/23/2008

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