EU Commission Clears Angolan LNG JV

EU Commission Clears Angolan LNG JV

The European Commission has cleared the proposed acquisition of joint control over the Angolan company Angola LNG by BP of the UK, Chevron Global Energy of the US, Eni of Italy, Sonangol of Angola and Total of France.

The joint venture will be active in the production of LNG in Angola and the worldwide supply of LNG. The Commission found that the transaction would not raise competition concerns because of the joint venture’s moderate anticipated market share, the presence of a number of credible competitors in the market concerned and competitors’ unchanged ability to access re-gasification terminals.

The joint venture would transform natural gas, obtained as a by-product from oil production and transported along pipelines to its liquefaction plant in Angola, into LNG. The LNG would then be sold to customers around the world for re-gasification.

The parties’ activities overlap in the market for the wholesale supply of LNG in the EEA. Given the JV’s moderate anticipated market share and the presence of a number of credible competitors, the Commission found that the joint venture and its parent companies will continue to face sufficient competitive constraints on the market for the wholesale supply of LNG. Although three of the parent companies (Total, Eni and BP) hold capacity rights in re-gasification terminals in the European Economic Area (EEA), they will not be able to shut out third parties from accessing them because EU law ensures third party access to gas import infrastructures, including re-gasification terminals. Thus, the creation of the joint venture does not lead to any change as regards competitors’ ability to access gas import infrastructures.

The Commission therefore concluded that the transaction would not impede effective competition in the EEA or any substantial part of it.

LNG World News Staff, May 16, 2012; Image: Bechtel

Share this article

Follow LNG World News

Events>

<< Jul 2016 >>
MTWTFSS
27 28 29 30 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

The 7th Annual Floating LNG USA 2016

The 7th Annual Floating LNG USA 2016 will bring together over 65 speakers from every part of the FLNG value chain…

read more >

LNGgc London

LNGgc 2016 has established itself as a prestigious LNG industry platforms in UK and Europe…

read more >

World LNG & Gas Series: 8th Asia Pacific Summit

The 8th Annual World LNG & Gas Series: Asia Pacific Summit is back in September…

read more >

Gas to Liquids

The volatile oil price has had a dramatic impact on the Gas to Liquids market and some large-scale projects’ operators have struggled to adapt to this unsteady landscape. Over the last 12 months, we have witnessed a few promising projects halt or even shut down altogether. However, whilst some doors have had to close, other doors are opening with interesting emerging markets on the new GTL field. A few companies have discovered ways to significantly reduce operating costs and prove to be commercially viable despite the current economic climate.

Against this backdrop, SMi’s 19th annual Gas to Liquids conference will discuss how GTL companies can work with the tumbling oil price and how they can build robust strategies and create effective alternative solutions to enable them to weather the storm. The programme will have a special focus on small-scale GTL projects, giving you the chance to hear first-hand success stories from leading GTL operators. The two-day event will provide the ideal platform for experts to discuss with peers what companies need in place in order to overcome today’s challenges, with leading industry figures dissecting cutting edge topics, including project financing, marketing of GTL projects and innovative alternative applications of GTL plants.

For more information and to register online, visit: www.gas-to-liquids.co.uk

read more >