A natural gas project backed by Chevron Corp., BP plc and Total SA has been approved for construction by the government of the African nation of Angola.
The joint venture, named Angola LNG Ltd., in which Chevron (NYSE: CVX) has a 36.4 percent stake, will collect natural gas from offshore fields in the Atlantic Ocean and process it at a new plant near Soyo, a town on Angola's northern coast, just south of the Congo River.
Most of Angola's oil and gas deposits are offshore from Cabinda, an enclave north of the Congo River which is owned by Angola, though it is divided from the main section of the country by part of the Democratic Republic of the Congo, formerly known as Zaire.
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