Centrica, StatoilHydro and CCC sign MOU for Nigerian LNG consortium

Offshore staff

BERKSHIRE, UK -- Centrica, StatoilHydro ASA, and Consolidated Contractors Co. have signed a MOU to form a consortium to assess the feasibility of developing LNG projects in Nigeria.

Centrica and StatoilHydro each have a 37.5%, with CCC holding 25%. The agreement is for an initial 18-month period with an option to extend. The feasibility study cost is expected to be about $10 million and will include analysis of potential feed gas, LNG plant locations including local infrastructure, and end markets.

"As part of our broader search for new sources of gas to supply our customers, this agreement provides us with an option to assess the viability of developing LNG projects in Nigeria, working alongside experienced partners," says Sam Laidlaw, CEO of Centrica.

11/7/2007