Statoil ASA Updates on Temporary LNG Production Stoppage at Snoehvit-Reuters

Reuters reported that Statoil ASA has temporarily stopped production at its Snoehvit liquefied natural gas (LNG) plant in the Barents Sea after water leaked into the gas dryers as of July 10, 2012. The Company has informed that while efforts are being made to get the gas liquefaction plant back on line, it was too early to say how long the stoppage would last. The Company's share of Snoehvit's output is approximately 50,000 barrels of oil equivalent per day. Alongside the Company which has a 33.53% stake in Snoehvit, the other partners in the field are GdF Suez (12%), Hess (3.26%), Total (18.40%), RWE Dea (2.81%) and Norwegian state-owned firm Petoro.