LONDON Oct 9 Noble Clean Fuels on
Tuesday became the latest energy company to expand its presence
in Britain's growing liquefied natural gas (LNG) market as it
signed an agreement to import spare LNG at the country's South
Noble joins Total Gas & Power, ConocoPhillips
, EGL, Chevron and Trafigura
in securing access to spare importing slots at
Britain's largest LNG terminal, which is owned by a joint
venture between Qatar Petroleum International,
holding 70 percent, and ExxonMobil.
"This contract adds to Noble's portfolio of flexible assets
across the shipping, supply, regasification and marketing
elements of the LNG value chain in both the Atlantic and Pacific
basins," said Alejandro Sanchez Gestido, global head of LNG at
The agreements do not involve financial transactions but
offer an option for companies to use importing slots when they
are not used by the shareholders.
South Hook Gas is in talks with other parties interested in
securing spare LNG import capacity at its terminal, a spokesman
said without detailing who the company was speaking with.
Britain is increasingly dependent on gas imports as its
domestic supply is dwindling, while demand is projected to rise.
Recent expansions of Britain's LNG facilities mean the
country is importing more and more of the super-cooled fuel from
its main exporter Qatar, a dependence which can leave it
vulnerable to changes in the global LNG market.
Over the first seven months of this year, Qatar sent 96
percent of Britain's total LNG imports, government data showed.