Amir of Qatar in the Presence of HM The Queen Inaugurates South Hook LNG Terminal
ExxonMobil CEO attends inauguration of the world's largest liquefied natural gas receiving terminal, South Hook, Wales, UK
South Hook Terminal is a major link in an efficient and innovative process to bring safe, cleaner-burning natural gas to world markets The project helps increase the availability and affordability of natural gas South Hook Terminal will diversify the world's energy portfolio and strengthen energy security in the United Kingdom and throughout Europe
LEATHERHEAD, United Kingdom--(BUSINESS WIRE)-- May 12 marks the official inauguration of the South Hook Liquefied Natural Gas (LNG) receiving terminal at Milford Haven, Pembrokeshire, Wales. The ceremony takes place today in the presence of HM The Queen of the United Kingdom and His Highness Sheikh Hamad bin Khalifa Al Thani, Amir of the State of Qatar, as well as other members of both royal families.
The South Hook terminal represents a technological milestone as a part of the Qatargas 2 LNG value chain project that will make additional supplies of cleaner-burning natural gas available to the UK and the rest of Europe.
South Hook LNG Terminal Company Ltd. is owned by Qatar Petroleum (67.5%), ExxonMobil (24.15%) and Total (8.35%). It is part of the larger Qatargas 2 joint venture which supplies gas to the UK from Qatar's North Field. The natural gas comes from the North Field off the coast of Qatar, and is brought ashore to be processed and liquefied at Ras Laffan Industrial City in Qatar. It is then loaded onto a fleet of world-class Q-Max and Q-Flex LNG ships and transported to the UK.
The terminal adds to the UK's LNG import capacity and energy diversity with the ability to deliver up to 2 billion cubic feet of gas daily into the natural gas grid when it reaches full operational capacity by the end of 2009. The terminal, which is being completed in two phases, includes five LNG storage tanks, a regasification plant, ship unloading systems and a jetty to allow berthing of the world's largest LNG vessels.
"The inauguration of the terminal is a significant milestone in the Qatargas 2 project," said His Excellency Abdulla bin Hamad Al-Attiyah, Deputy Premier and Minister of Energy & Industry. "ExxonMobil has been a strong partner with Qatar Petroleum, offering innovative technologies and expertise that have helped transform our regional gas resource into a global supply of clean-burning energy."
Rex W. Tillerson, chairman and chief executive officer of Exxon Mobil Corporation, said: "In the years ahead, the world will continue to face many energy challenges as we meet the growing energy needs of the global economy in a safe, efficient, and environmentally responsible way. South Hook, as a vital part of the Qatargas 2 project, stands as a shining example of how this can be achieved. Working together with Qatar Petroleum in open markets and under stable policies, South Hook is a striking example that international teamwork and technology can provide the energy needed to fuel economic growth, improve environmental performance, and build a brighter future for all."
Liquefied Natural Gas (LNG) is one of the fastest growing sources of energy supplies. Global LNG demand is expected to reach approximately 470 million tons per annum (MTA) by 2030, an increase of over 200 percent since 2005. View ExxonMobil's corporate advertisement on LNG.
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to find better, safer and cleaner ways to provide energy to support development and improved living standards around the world. ExxonMobil holds an industry-leading inventory of resources, is the largest refiner and marketer of petroleum products and its chemical company is one of the largest in the world.
CAUTIONARY STATEMENT: Statements in this release relating to future plans, expectations, events or conditions are forward-looking statements. Actual results, including project plans, capacities, timing and outcomes and future demand growth could differ materially due to changes in long-term oil or gas prices or other market conditions affecting the oil and gas industry; political events or changes; timely completion of development projects; the outcome of commercial negotiations; and other factors discussed under the heading "Factors Affecting Future Results" on the "Investors" section of our website (www.exxonmobil.com) and in Item 1A of ExxonMobil's 2008 Form 10-K. References to volumes of natural gas include amounts that are not yet classified as proved reserves but that we believe will ultimately be produced.
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Source: Exxon Mobil Corporation
Released May 12, 2009