NEW YORK--(BUSINESS WIRE)--June 4, 2004--Amerada Hess Corporation (NYSE: AHC) announced the formation of a joint venture with an affiliate of Poten & Partners, to be known as Hess LNG. The joint venture will be based at Amerada Hess' New York headquarters and will pursue investments in liquefied natural gas (LNG) terminals and related supply, trading and marketing opportunities. The joint venture will assume the development of the LNG terminal project, known as Weaver's Cove, located in Fall River, MA.
Amerada Hess Chairman and CEO, John Hess, stated that "the creation of Hess LNG will strengthen our capability in the LNG business, enhance our access to long lived, low cost natural gas reserves, and complement the company's strong natural gas marketing position in the Eastern United States."
CONTACT: Amerada Hess Corporation, New York
Jay R. Wilson, 212-536-8940
SOURCE: Amerada Hess Corporation