Wednesday, April 6, 2011

UPDATE 1-Total's Yemen LNG not hit by turmoil-CEO

Wed Apr 6, 2011
* Total's global output target for 2011 unchanged-CEO
* Yemen has capacity to supply up to 6.7 mln T of LNG/ year
By Matthias Blamont and Muriel Boselli
PARIS, April 6 (Reuters) - Unrest in Yemen is not disrupting output at Total's (TOTF.PA: Quote) Yemen LNG project, the group's chief executive said on Wednesday, adding widespread protests in the Middle East had not changed its 2011 output target.
Yemen's only liquefied natural gas producer, Yemen LNG, warned its customers last month of potential supply curtailments and a possible force majeure on exports, as violence spreads across the nation. [ID:nN22159737]
"For the time being, it is not hurt, we produce normally," Christophe de Margerie told reporters at an oil summit in Paris.
Asked whether protests in the arab world had changed the French major's production target for 2011, he said: "It hasn't changed".
Total said in February its output target would be stable in 2011.
Yemen has the capacity to supply up to 6.7 million tonnes of LNG per year. Last year Yemen LNG, the 16th largest seller of the gas, shipped more than half its supplies to Asia, with the rest going to the Americas and Europe.
The project delivers LNG under long term contracts to GDF Suez (GSZ.PA: Quote), Total and Korea Gas Corp (036460.KS: Quote).

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