Aminex signs with LNGL

Oil and gas company Aminex has signed a memo of understanding with Liquefied Natural Gas Limited ("LNGL"), an Australian public company, for co-operation in the exploration and development of natural gas in East Africa, onshore and offshore.

LNGL has been formed to deliver natural gas to new international energy markets in a liquefied form (LNG). LNGL will establish LNG plants with easy access to gas reserves and deliver the LNG to energy markets which cannot be economically supplied by pipeline or which are too small for the major international LNG suppliers.

The LNG supplied will replace and compete on favourable terms with expensive and less environmentally attractive oil-based fuels, using innovative LNG production technology.

Under the memo of understanding, it is intended that Aminex will source, develop and produce gas reserves, either existing or to be discovered, and LNGL will provide the means of liquefication and transport. LNGL will also market the product.