Oil and Gas Press

ConocoPhillips Enters Agreement for Long-Term Market Access at Zeebrugge LNG Terminal in Belgium

HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE:COP) has entered into an agreement with Suez LNG Trading SA which provides ConocoPhillips with long-term access to the Northwest Europe LNG market through Suez’s regasification capacity at the Zeebrugge LNG terminal in Belgium starting in October 2008. This arrangement will diversify ConocoPhillips’ market access position in the Atlantic Basin by adding access in Northwest Europe to the company’s expected regasification capacity in the Freeport and Golden Pass terminals in the U.S. Gulf of Mexico.

Under a separate agreement, ConocoPhillips will also provide Suez with market access through ConocoPhillips’ planned regasification capacity in the Freeport LNG terminal in Texas, starting in mid-2010.

“ConocoPhillips has provided reliable gas supply to Northwest Europe for many years and is pleased to enter into this agreement with Suez to improve opportunities to continue supplying this important gas market in the future,” said Todd Fredin, president, ConocoPhillips Commercial, Europe, Africa and Middle East region.

ConocoPhillips is an integrated energy company with interests around the world. For more information, go to www.conocophillips.com.

CAUTIONARY STATEMENT FOR THE PURPOSES OF THE “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that contain projections about our revenues, income, earnings and other financial items, our plans and objectives for the future, future economic performance, or other projections or estimates about our assumptions relating to these types of statements. These statements usually relate to future events and anticipated revenues, earnings, business strategies, competitive position or other aspects of our operations or operating results. In many cases you can identify forward-looking statements by terminology such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target” and other similar words. However, the absence of these words does not mean that the statements are not forward-looking. The forward-looking statements are based on management’s expectations, estimates and projections about ConocoPhillips and the petroleum industry in general on the date this statement was released. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Economic, business, competitive and regulatory factors that may affect ConocoPhillips’ business are generally as set forth in ConocoPhillips’ filings with the Securities and Exchange Commission (SEC). Unless legally required, ConocoPhillips undertakes no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Contacts
ConocoPhillips
Nancy Turner, 281-293-1430 (media)
or
Gary Russell, 212-207-1996 (investors)

At A Glance
ConocoPhillips
Headquarters:  Houston, Texas 
Website: http://www.conocophillips.com 
CEO:  Jim Mulva 
Employees:  38,000 
Ticker:  COP  (NYSE) 
Revenues:  $183.3 billion (2005) 
Net Income:  $13.5 billion (2005) 
Source: via Business Wire
 

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Tags: Belgium, ConocoPhillips, LNG, Terminal, Zeebrugge