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LNG PROJECT CONSIDERED FOR TRINIDAD

 BOSTON, Feb. 5 /PRNewswire/ -- The National Gas Company of Trinidad and Tobago Limited (NGC), Cabot LNG Corporation, BG Trinidad, Inc. and Amoco Trinidad have entered into a Memorandum of Understanding (MOU) to investigate the feasability of a small liquefied natural gas (LNG) export project based in the Republic of Trinidad and Tobago.
 The companies are evaluating a project with a design capacity of approximately 300 million cubic feet per day (300 MMscfd), with its output targeted at markets in the Northeast United States through the LNG import terminal owned by Cabot LNG's subsidiary, Distrigas of Massachusetts Corporation (DOMAC), and at other potential markets in the Caribbean and Western Europe. The Government of the Republic of Trinidad and Tobago has given its provisional approval to the utilization of reserves of the East Coast Marine in such a project. If the market demand is sufficient, it is envisioned that additional liquefaction capacity would be added utilizing gas reserves from the North Coast Marine Area.
 The Republic of Trinidad and Tobago has extensive gas reserves amounting to about 8.4 trillion cubic feet of proven reserves and at least 12 trillion cubic feet of probable and potential reserves.
 In the recent past, Trinidad and Tobago's level of gas production has averaged 700 MMscfd and is expected to grow to 900 MMscfd by the end of the decade, excluding the proposed LNG project. Trinidad's location in the Caribbean basin gives it a natural advantage in shipping to the U.S. East Coast. Over the last 15 years, Trinidad and Tobago has built a significant gas-based export infrastructure and is one of the largest ammonia exporters in the world. It is also a significant exporter of methanol.
 The proposed LNG project would require an investment of approximately U.S. $1 billion, and could be in production by 1997. Growing and potential demand for long-term, secure supplies of natural gas in the Northeast United States, the Caribbean Basin and Western Europe make this project particularly appealing at this time.
 The NGC is a commercial enterprise, owned by the Government of Trinidad and Tobago, and is responsible for the purchase, transmission and sale of natural gas in the country. The NGC also owns equity interests in an LPG processing plant and natural gas production facility.
 The NGC has recently been mandated by the Government of Trinidad and Tobago to promote and develop energy-related projects including LNG.
 Cabot LNG Corporation is a subsidiary of Cabot Corporation (NYSE: CBT), a Fortune 300 company based in Boston. 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.
 BG Trinidad, Inc. is a subsidiary of British Gas PLC, one of the world's largest integrated gas companies. In addition to extensive gas reserves in Trinidad, British Gas owns three LNG carriers and an LNG import terminal located at Canvey Island on the Thames Estuary in England.
 Amoco Trinidad is a subsidiary of the Amoco Corporation, one of the largest integrated oil and gas companies in the world. Operating in Trinidad and Tobago since 1961, Amoco Trinidad has long been recognized as the primary producer of oil and natural gas in the country. Along with its successful producing history in Trinidad and Tobago and significant reserves of natural gas, Amoco Trinidad will bring to this partnership access to tremendous resources, worldwide, through the Amoco Corporation.
 -0- 2/5/93
 /CONTACT: Malcolm Jones, at the NGC, 809-636-4662; Gordon Shearer, at Cabot LNG, 617-526-8400; Dr. Peter Jessen, at BG Trinidad, 713-752-8277; or David Wight, at Amoco, 809-622-7331/
 (CBT)


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

CH -- NE011 -- 3571 02/05/93 13:38 EST
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Publication:PR Newswire
Date:Feb 5, 1993
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