Amerada Hess Announces Creation of Hess LNG.Business Editors NEW YORK--(BUSINESS WIRE)--June 4, 2004 Amerada Hess Corporation (NYSE NYSE See: New York Stock Exchange : AHC AHC Appalachian Hardwood Center AHC American Heritage Center (University of Wyoming, Laramie, WY) AHC American Horse Council AHC Association for History and Computing AHC Australian Heritage Commission AHC Assault Helicopter Company ) announced the formation of a joint venture with an affiliate of Poten & Partners, to be known as Hess LNG. The joint venture will be based at Amerada Hess' New York headquarters and will pursue investments in liquefied natural gas liquefied natural gas: see under natural gas. Liquefied natural gas (LNG) A product of natural gas which consists primarily of methane. Its properties are those of liquid methane, slightly modified by minor constituents. (LNG) terminals and related supply, trading and marketing opportunities. The joint venture will assume the development of the LNG terminal project, known as Weaver's Cove, located in Fall River, MA. Amerada Hess Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , John Hess, stated that "the creation of Hess LNG will strengthen our capability in the LNG business, enhance our access to long lived, low cost natural gas reserves, and complement the company's strong natural gas marketing position in the Eastern United States." |
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