September 11, 2017 / 3:45 PM / 10 months ago

Angola LNG agrees sales deal with RWE Supply & Trading

LONDON, Sept 11 (Reuters) - Angola’s sole liquefied natural gas (LNG) export plant said it has entered into an agreement to sell cargoes to RWE Supply & Trading.

The announcement follows a multi-year sales deal Angola LNG struck with Swiss commodity trader Vitol this month as output from the plant stabilises after years of setbacks.

“Angola LNG is operating safely and reliably,” Angola LNG Marketing Ltd said in a statement on Monday.

It did not say when shipments would start flowing to RWE Supply & Trading.

Angola has been selling all of its LNG via competitive tenders into the spot market, partly because the plant’s original plan to ship LNG to the United States fell through following the U.S. shale gas boom.

Concerns over the plant’s reliability as well as limitations on feed gas supplies from offshore fields also prevented the Chevron-led project from previously locking in an LNG sales deal.

Angola LNG production is on track to hit up to 3.5 million tonnes in 2017 compared with 0.77 million tonnes in 2016. (Reporting by Oleg Vukmanovic; Editing by Susan Fenton)

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