8 May 2012 – Angolan oil minister José Maria Botelho de Vasconcelos said at a conference in Houston this month that the first phase of a liquefied natural gas (LNG) project in the country’s northern Zaire province is at an advanced stage of implementation. The project anticipates an annual average production of 5.2 million tonnes.
According to Angop Botelho de Vasconcelos said the expansion of Angola’s LNG potential opens up new business and partnership perspectives. The minister mentioned the various uses of the natural gas which include the production of electricity, as well petrochemical and domestic applications.
In the past Angola’s oil sector has contributed more than 40% to the country’s GDP, accounting for more than 90% of its global exports and about 60% of its total revenue.