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| Marathon delivers first LNG cargo from Equatorial Guinea project  Marathon Oil Corporation and its partners announced the delivery of the first cargo of liquefied natural gas (LNG) from their Train 1 LNG project on Bioko Island, Equatorial Guinea. The $1.5 billion project was completed on-budget and six months ahead of the original schedule of late 2007. The LNG plant is located on the northwest side of Bioko Island at Punta Europa, near Equatorial Guinea's capital city of Malabo. Approximately three trillion gross cubic feet of dry gas from the Marathon-operated Alba Field offshore Equatorial Guinea will be processed through the LNG plant.Marathon and the other EG LNG Co shareholders commenced preliminary construction of the Train 1 project in December 2003, and completed the project ahead of schedule with an outstanding safety performance of more than eight million man hours worked without a lost time incident. Bechtel was the primary engineering, procurement and construction contractor. The shareholders in EG LNG Co are Marathon, which holds a 60 percent interest; Sonagas, the National Gas Company of Equatorial Guinea, with a 25 percent interest; as well as Mitsui & Co., Ltd. and Marubeni Gas Development Co., Ltd. which hold the remaining 8.5 percent and 6.5 percent interests, respectively. During 2006, Marathon and the other EG LNG Co shareholders awarded a front end engineering and design (FEED) contract for initial work related to a potential second LNG train on Bioko Island. The scope of the FEED work for the potential 4.4 mmtpa Train 2 LNG project included feed gas conditioning, liquefaction, refrigeration, ethylene storage, boil off gas compression, product transfer to storage and LNG product metering. The FEED work was recently completed and a final investment decision is expected in 2008. write your comments about the article :: © 2007 Construction News :: home page |