Co-Operative Agreement Announced Between Shell Global Solutions and Cryogaz Technologies.MONTIGNY-LE-BRETONNEUX, France--(BUSINESS WIRE)--Jan. 6, 1999-- Shell Global and Solutions and Cryogaz Technologies announced today the signing of a Memorandum Of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. (MOU (Minutes Of Usage) A metric used to compute billing and/or statistics for telephone calls or other network use. ) that will see them co-operate on the development of fast track, low cost Liquified natural Gas and Liquefied Petroleum Gas liquefied petroleum gas or LPG, mixture of gases, chiefly propane and butane, produced commercially from petroleum and stored under pressure to keep it in a liquid state. (LNG/LPG) terminal projects. Shell Global Solutions is the network of technology companies operated by the Royal Dutch/Shell Group. Activities under this MOU will primarily be undertaken by Shell International Oil Products and Shell Gas and Power. Cryogaz Technologies is a 50/50 commercial joint venture between SN Technigaz (fully owned by Bouygues Offshore, NYSE NYSE See: New York Stock Exchange : BWG BWG Bankwesengesetz (Federal Law on Banking, Austria) BWG Beam Waveguide (antenna) BWG Bundesamt für Wasser und Geologie (Federal Office for Water and Geology, Switzerland) ) and Sofregaz (subsidiary of Gaz de France Gaz de France (GDF) is a French company which produces, transports and sells natural gas around the world and especially in France which is its main market, but also Belgium, the United Kingdom, Germany and other European countries. ). Commenting at the signing of the MOU, Greg Lewin, General Manager Business Development at Shell Global Solutions said: "Cryogaz has an excellent track record in the LNG LNG (liquefied natural gas): see under natural gas. terminal industry. We are very pleased to be able to enhance the offer we make to the market by working with them to deliver fully integrated proposals for the development of LNG projects. By having all parties involved in early stages of a project, our customers will benefit from superior project design, fast track implementation schemes and innovative solutions which will lower their capital investment, operational and maintenance costs." The Suape LNG import terminal in North-East Brazil (near Recife) will be the first activity carried out under this MOU. It will provide Petrobras/Shell Brazil with a high quality design package for a safe, reliable and cost effective terminal. The proposed terminal in Suape will be South America's first regasification terminal. Herve Le Bouc, Chief Executive Officer of Bouygues Offshore and Chairman of SN Technigaz, and Pierre Cavalieros, Chairman of SOFREGAZ, commenting on this MOU said: "We are very proud to establish this preferred relationship with the major gas player Shell, as it confirms our leadership in the LNG/LPG market." |
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