LIQUEFIED NATURAL GAS (LNG)

LNG - Peru

LNG operations involve liquefying "stranded" natural gas so that it can be economically exported by specially built ocean tankers to markets around the world.

PERU LNG

On June 10th, 2010, Hunt Oil Company, along with our PERU LNG consortium members SK Corporation, Repsol YPF and Marubeni, inaugurated the first gas liquefaction plant in South America. Hunt is the largest shareholder, project developer and operator for the $3.8 billion PERU LNG project. The project included the construction of a gas liquefaction plant located approximately 170 kilometers south of the capital of Lima, along with a 408-kilometer pipeline over the Andes and a marine terminal on the coast of the Pacific Ocean. The LNG plant has the capacity to process approximately 677,000 million cubic feet per day and the ability to produce 4.45 million tonnes of LNG per year. Peru’s LNG offtake has been contracted to Repsol Comercializador de Gas, S.A. for export to North America and markets around the world. The culmination of this project, which was completed with an exemplary safety record and finished on time and within budget, positions Peru as a leader in the liquefied natural gas industry in South America and the income it generates will provide future development and growth for the country and its people for decades to come.

For more information, please visit the PERU LNG website.

Yemen LNG

Yemen LNG was launched in August 2005, utilizing the gas discovered by Hunt, with Total leading the LNG effort. Hunt is the third largest shareholder in the project and owns a 17.22 percent shareholder interest. The project started selling LNG in November 2009 and has the capacity to process approximately 1 billion cubic feet per day (29 million cubic meters per day) and is expected to produce 6.7 million tonnes of LNG per year. Yemen’s LNG offtake is under contract for sale over a 20-year period to customers including Total Gas and Power, GDF Suez and Korea Gas Corporation for export to the U.S., South Korea and markets around the world. The Yemen LNG project is the largest industrial project ever undertaken in the country of Yemen.

For more information, please visit the Yemen LNG website.

Going Global with LNG

Positioning the company for the future, Hunt Oil Company is one of the few independent oil and gas companies with LNG projects as a major line of business. With the PERU LNG and Yemen LNG projects, Hunt Oil Company has established a significant new platform for growth, and the company continues to pursue opportunities in the LNG market.