Exxon to start European LNG terminals in 2008

NEW YORK Thu Jun 5, 2008 7:01am IST

Exxon Mobil Gas and Power Marketing President Andrew Swiger talks during the Reuters Energy Summit in Houston June 4, 2008. REUTERS/Richard Carson

Exxon Mobil Gas and Power Marketing President Andrew Swiger talks during the Reuters Energy Summit in Houston June 4, 2008.

Credit: Reuters/Richard Carson

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NEW YORK (Reuters) - A top Exxon Mobil Corp (XOM.N) executive said on Wednesday the company was on track to start up two liquefied natural gas regasfication terminals that will deliver gas to Europe this year.

Andrew Swiger, president of Exxon Mobil's natural gas and power business, said the South Hook LNG terminal, located in Wales, will start up in the third quarter.

A project to export Qatari gas to the terminal -- Qatargas II train 4 -- will start up later this year, Swiger told the Reuters Global Energy Summit in Houston.

Last year, Qatargas' chief executive said the project would start in June, but Swiger declined to specify a month.

Swiger also said the company's Adriatic LNG terminal, which will be located offshore Italy, will start up "very late this year."

Flooding started at the drydock where the project is currently situated last week, the first step to moving it to its eventual location, but "getting it over there and setting it in place and hooking everything up will take a bit of time," he said.

(For summit blog: summitnotebook.reuters.com/)

(Reporting by Michael Erman, Editing by Jeffrey Benkoe)

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