GM&T USA and Statoil sign gas MoUs

The transactions include a regasification capacity deal at the Cove Point, Maryland receiving terminal for liquefied natural gas (LNG), as well as gas sales and LNG imports in the US.

Statoil and GM&T USA are negotiating all terms and conditions of the binding detailed agreements based on the MoU. The parties aim to finalise negotiations by the first quarter of 2010.  

Under the terms of the MoU, GM&T USA will gain access to 50 million cubic feet per day (mmcfd) or about 0.5 billion cubic metres p