ExxonMobil Announces First LNG Cargo at Adriatic Terminal
IRVING, Texas--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE:XOM) today announced that the first liquefied natural gas (LNG) cargo arrived at theAdriatic LNG regasification Terminal located offshore of Porto Levante, Italy aboard the LNG carrier, Dukhan.
Terminale GNL Adriatico ("Adriatic LNG") is owned by Qatar Terminal Limited (45 percent), a Qatar Petroleum subsidiary, ExxonMobil Italiana Gas (45 percent) and Edison (10 percent). The Terminal is the first offshore Gravity Based Structure in the world for unloading, storage and regasification of LNG. It utilizes ExxonMobil proprietary technology and is designed around a large concrete structure, which houses two LNG storage tanks, a regasification plant, and facilities for mooring and unloading LNG vessels. When it reaches full operational capacity later in 2009, the Adriatic LNG Terminal will be able to deliver 775 million cubic feet of natural gas per day (8 billion cubic meters per year), or approximately 10 percent of Italy's current natural gas requirements.
"ExxonMobil is a global leader in developing and delivering advanced LN technology," said Neil Duffin, president of ExxonMobil Development Company. "ExxonMobil is proud to partner with Qatar Petroleum and Edison in developing the Adriatic LNG Terminal that will increase Italy's LNG import capacity and provide cleaner-burning natural gas to help meet consumer demand. Through advanced technologies, project execution expertise, and economies of scale, ExxonMobil is extending its ability to bring global LNG supplies to Italy and elsewhere around the world."
"The Adriatic LNG Terminal will further expand Qatar's global reach and provide a diverse and secure energy supply for Italy," commented Saad Al-Kaabi, Director Oil & Gas Ventures for Qatar Petroleum and Chairman of Adriatic LNG. "The arrival of the first LNG cargo marks a significant milestone in Qatar's world-leading LNG business and reflects our successful collaboration with ExxonMobil."
Facilitating the development of a global market for cleaner-burning natural gas, ExxonMobil is an industry leader in all aspects of the LNG value chain, including resource development, liquefaction, transportation, regasification terminals and gas marketing. In partnership with Qatar Petroleum, the company is employing new technology to build four of the largest LNG production facilities in the world, LNG regasification terminal projects in the UK, Italy and the US, as well as the industry's largest vessels to carry LNG to market. ExxonMobil is also participating in the development of LNG projects in Papua New Guinea and Australia.
CAUTIONARY STATEMENT: Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans and schedules, gas volumes, and the impact of new technology could differ materially due to changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments; timely completion of projects; technical or operating factors; and other factors discussed under the heading "Factors Affecting Future Results" in the Investors section of our website (www.exxonmobil.com) and in Item 1A of our most recent Form 10-K. References to quantities of gas include amounts that are not yet classified as proved reserves but that we believe will be produced in the future.
Note to editors: A downloadable image of the LNG carrier, Dukhan, at the Adriatic LNG terminal is available by selecting news releases at http://exxonmobil.com/news.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6026352&lang=en
Len D'Eramo, 713-656-4376
Rachael Moore, 713-656-4376
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