With an increasing US demand, StatoilHydro is enlarging its regasification terminal at Cove Point.
The group received its first liquefied natural gas (LNG) consignment for the US continent in 2003. While waiting for LNG deliveries to start from Melkøya in northern Norway, the group has bought cargoes from suppliers in Trinidad, Algeria and Egypt.
“Our US customers have been well supplied despite start-up challenges at Melkøya,” explains Hilde Nafstad, head of gas trading at the Stamford office.
Third-party trading has allowed StatoilHydro to be flexible and solution-oriented towards US customers.
“But we’re looking forward to stable deliveries from Melkøya,” says Nafstad.
With the US gas market expanding, the regasification terminal at Cove Point being enlarged and StatoilHydro has secured all this additional capacity. Together, these developments provide the basis for a significantly expanded gas marketing activity in the US in the years to come.
“Stamford is a perfect location for us gas traders, and the Cove Point terminal provides a modern facility with a unique position on the US east coast,” says Nafstad.
