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CABOT LNG CORPORATION MOVES FORWARD WITH PLANS TO DEVELOP AN LNG EXPORT PROJECT IN TRINIDAD

 PORT OF SPAIN, TRINIDAD, Sept. 24 /PRNewswire/ -- Cabot LNG Corporation, ("Cabot LNG") announced today the establishment of a new subsidiary company, Cabot Trinidad LNG Corporation ("Cabot Trinidad"). Cabot Trinidad will be responsible for facilitating the completion of feasibility studies in connection with the construction of a 300 million cubic feet per day (300 MMscfd) liquefied natural gas (LNG) export project based in the Republic of Trinidad and Tobago.
 Cabot Trinidad's offices are located in Port of Spain, Trinidad where the company will work in close cooperation with the Project Development Team, including the National Gas Company of Trinidad and Tobago, Amoco, British Gas, and various contractors and advisors.
 Earlier this year, the Natural Gas Company of Trinidad and Tobago (NGC), Cabot LNG Corporation, BG Trinidad, Inc. and Amoco Trinidad initiated feasibility studies in connection with this project, and these studies are now being expanded and extended in scope. The Republic of Trinidad and Tobago has extensive gas reserves amounting to approximately 8.4 trillion cubic feet of proven reserves, and at least 12 trillion cubic feet of probable and potential reserves. The Government of Trinidad and Tobago has given its approval for the utilization of reserves of the East Coast Marine Area in the initial phase of the LNG project.
 The proposed LNG project would require an investment of approximately U.S. $1 billion, and could be in production by 1997 with its output targeted at markets in the Northeast U.S. through the LNG import terminal owned by Cabot LNG's subsidiary, Distrigas of Massachusetts Corporation ("DOMAC"). In addition to the growing demand in the Northeast U.S., the potential demand for long-term, secure supplies of natural gas is also anticipated from Western Europe and the Caribbean Basin.
 Cabot LNG Corporation is a subsidiary of Cabot Corporation (NYSE: CBT), a Fortune 300 company based in Boston, with worldwide operation in Specialty Chemicals and Materials, and Energy. Cabot LNG, through subsidiaries and affiliates, owns an LNG import terminal in Everett, Mass., and the LNG carrier, Gamma. Cabot LNG is the largest and oldest LNG importer in North America.
 NOTE: Cabot Trinidad's complete address is: Cabot Trinidad LNG Corporation, Algico Plaza, 91-93 St. Vincent St., Trinidad, West Indies, Telephone: 809-627-6988, facsimile: 809-627-6976
 -0- 9/24/93
 /CONTACT: Gordon Shearer or Geoffrey Hornby, of Cabot LNG Corp., Boston, 617-526-8300 or; Mary Moore, of Cabot Trinidad LNG Corp., Trinidad, 809-627-6988/
 (CBT)


CO: Cabot LNG Corporation ST: Massachusetts IN: CHM OIL SU:

JL-CM -- NE002 -- 5323 09/24/93 09:32 EDT
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Publication:PR Newswire
Date:Sep 24, 1993
Words:416
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