ALTCO TOOK DELIVERY OF FIRST LNG CARGO FROM IDKU PLANT IN EGYPT

PETRONAS’ subsidiary, Asean LNG Trading Company Ltd (ALTCO) yesterday took delivery of the first LNG cargo from PETRONAS’ joint venture Egyptian LNG (ELNG) project in Idku, Egypt.The delivery was ELNG’s first cargo commitment under the project’s Train 1 early completion sale and purchase agreement signed with ALTCO. Under the agreement, ALTCO will lift approximately three cargoes of LNG throughout the plant’s early completion period.

The LNG was loaded yesterday into Puteri Zamrud Satu, an LNG vessel owned by PETRONAS’ subsidiary Malaysia International Shipping Corporation Bhd.

The ELNG project comprises the development and operation of a two train LNG liquefaction plant and related infrastructure approximately 50 kilometres east of Alexandria. The plant receives its feed gas from the West Delta Deep Marine (WDDM) Concession Area where PETRONAS holds a 50 per cent working interest.

Issued by
Media Relations Department

May 30, 2005OffshoreMan

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