Sunday, June 16, 2019

Mozambique News

Australia Dominates China's LNG Supply

Offshore Australia: Shell’s Prelude floating liquefied natural gas (FLNG) facility delivered its first LNG cargo earlier this week. Pictured is the Prelude FLNG facility, with the Valencia Knutsen berthed side-by-side (Photo: Shell)

Australia's fast-expanding liquefied natural gas industry has this year been supplying the lion's share of China's growing demand for imports of the commodity, with appetite surging as Beijing shifts away from dirtier fuels such as coal.Australia supplied over 53% of China's LNG imports during the first five months of 2019, shipping data in Refinitiv showed, up from around 40% in 2016 when a previous round of new Australian export projects started to ramp up.With Royal Dutch Shell's Prelude facility delivering its first LNG cargo this week from northwest Australia…

Chinese Buyers Leave US LNG

Graph: Rystad Energy

Chinese buyers have avoided US LNG projects even before the tariffs hiked to 25%, said a report by  Rystad Energy.Despite the Chinese tariffs, there is still appetite for US LNG from other countries. Since the first tariff of 10% was introduced on US LNG in September 2019, the US has signed about 18 million tpa worth of new export agreements with buyers globally.Rystad Energy does not expect to see any new Chinese buyers of US volumes as long as the tariff is in…

EPC Contract Awarded for Mozambique LNG

© Mark Rubes / Adobe Stock

A joint venture between McDermott, Saipem and Chiyoda, has reached full agreement for a contract with Anadarko Petroleum Corporation for the Mozambique Area 1 Liquefied Natural Gas (LNG) Development, McDermott International announced on Wednesday.CCS JV’s project scope includes the onshore engineering, procurement and construction (EPC) for all components of the onshore LNG development, which includes two LNG trains with a total nameplate capacity of 12.88 million tonnes per annum (MTPA), plus the associated utilities and infrastructure.

Total to Discuss Anadarko Assets with Algeria

Total will meet Algerian authorities for talks over its plans to buy Anadarko's assets in the country and is not worried by media reports that Algiers would block the deal, Chief Executive Patrick Pouyanne said on Wednesday."We will meet Algerian authorities very soon," Pouyanne told shareholders at the company's annual meeting in Paris. "We are not worried. It is normal that authorities seek to have dialogue with their principal partners and Total is one of the…

Oxy Plans to Sell Parts of Anadarko

Deal-makers say most likely sale prospects are Anadarko's offshore assets in the Gulf of Mexico and its pipeline business. (Photo: Anadarko)

Occidental Petroleum snatched up some of the richest shale oilfields in Texas when it beat out rival Chevron Corp in a bidding war to acquire Anadarko Petroleum.It also quadrupled its debt - to $40 billion - at a time when investors are calling for spending cuts and higher dividends.That means the acquisition's success will depend on how quickly Occidental can sell off some of Anadarko's assets and focus on optimizing and integrating the assets it keeps - especially prime U.S.

Rovuma LNG Gets Government Green Light


© gt29 / Adobe Stock

The government of Mozambique has approved development plans for the ExxonMobil-led Rovuma LNG project, which will produce, liquefy and market natural gas from three reservoirs located in the Area 4 block offshore Mozambique, two of which straddle the boundary with neighboring Area 1.“The development plan approval marks another significant step toward a final investment decision (FID) later this year,” said Liam Mallon, president of ExxonMobil Upstream Oil & Gas…

Anadarko Signs LNG Supply Deal with JERA, CPC

Image: Anadarko

US hydrocarbon exploration company Anadarko has signed a Sale and Purchase Agreement (SPA) with Japanese power company JERA and Taiwanese oil and gas company CPC.The SPA calls for the delivered ex-ship supply of 1.6 million tonnes per annum (MTPA) for a base term of 17 years from the commercial start date. Mozambique LNG's portfolio of long-term sales now includes four of the top five LNG importing markets in the world."This co-purchasing agreement with JERA and…

'We Are the Rightful Owners' of Anadarko -Oxy CEO

Occidental Petroleum Chief Executive Vicki Hollub (Photo: Occidental Petroleum)

Occidental Petroleum Chief Executive Vicki Hollub on Friday touted her $38 billion deal for Anadarko Petroleum Corp and defended the pricey terms she negotiated in a 90-minute session with billionaire investor Warren Buffett to secure the deal without seeking shareholder approval.Hollub, 59, beat out larger rival Chevron Corp with a long-shot bid that some Occidental investors called risky because it saddles Occidental with $46 billion in new debt. By deftly lining up allies and cash…

Occidental Agrees to Sell Anadarko Assets to Total

Image: Anadarko Petroleum

Texas-headquartered Occidental Petroleum has reached an agreement to sell Anadarko Petroleum's oil and gas assets in Africa to French oil major Total for $8.8 billion.The binding agreement with Occidental to acquire Anadarko’s assets in Africa (Algeria, Ghana, Mozambique, South Africa) is contingent on a successful completion of Occidental’s ongoing bid for Anadarko.Wood Mackenzie research director Nicholas Browne says the move would make Total the second largest international oil company (IOC) LNG seller after Shell…

Oxy Would Sell Anadarko’s Africa Assets to Total

(Photo: Anadarko)

France's Total SA said on Sunday it has agreed with Occidental Petroleum Corp to acquire the African assets of Anadarko Petroleum Corp for $8.8 billion, should the two U.S. oil and gas companies clinch a deal to combine.The agreement with Total is the latest move by Occidental in its effort to convince Anadarko to accept a $38 billion cash-and stock acquisition offer and abandon its agreed $33 billion sale to Chevron Corp. On Tuesday, Occidental secured a $10 billion…

Chevron to Buy Anadarko for $33 Bln

(Photo courtesy Anadarko)

Chevron Corp on Friday said it will buy oil and gas producer Anadarko Petroleum Corp for $33 billion in cash and stock in a deal that doubles down on its bet on U.S. shale and LNG as U.S. energy production is shattering records.The deal makes Chevron the second-largest major by crude production, behind Exxon Mobil Corp, up from fourth. It expands Chevron's reach in two areas where U.S. energy output is surging - shale from the Permian Basin of west Texas and New Mexico, and liquefied natural gas (LNG) - which have helped make the U.S.

$13 Bln Papua LNG Project Pushes Ahead

France's Total and its partners signed a long-awaited deal with Papua New Guinea on Tuesday that will allow initial work to start on a $13 billion plan to double the country's liquefied natural gas exports.Developing the Pacific island nation's gas reserves is seen as crucial to its economy as LNG is its biggest export earner, while demand for the fuel is surging globally.Total's partner Oil Search said the agreement would allow the parties to start engineering…

Anadarko Mulls 16 LNG Charters for Mozambique

An LNG carrier transits the Med in a recently taken image (CREDIT: Robert murphy)

Anadarko said on Thursday it would seek long-term charters for around 16 liquefied natural gas (LNG) tankers it would need to ship gas from a proposed project in Mozambique.The independent U.S. energy producer aims to take a final investment decision on the $20 billion project in the coming months, having signed up long-term buyers for its LNG.Anadarko said all the contracts signed so far, for over 9.5 million tonnes a year (mtpa) out of a capacity of 12.88 mtpa…

Anadarko, Bharat Petroleum Sign LNG Deal

Pic: Anadarko Petroleum Corporation

American petroleum and natural gas exploration and production company Anadarko, on behalf of the Mozambique Area 1 partners, signed a deal with Bharat Gas Resources (BGR) for the supply of liquefied natural gas (LNG) volumes from the Mozambique LNG development.The sale and purchase agreement (SPA) is for 1 million tonnes per annum (MTPA) for a term of 15 years. BGR is a wholly owned subsidiary of Government of India controlled  oil and gas giant Bharat Petroleum Corporation Ltd.

Anadarko Nearing FID for Mozambique LNG

© Mark Rubens / Adobe Stock

U.S. independent energy producer Anadarko moved closer to a final investment decision (FID) to build a giant liquefied natural gas (LNG) terminal in Mozambique after signing up an Indian buyer for the gas and saying another deal was imminent.Anadarko and Exxon Mobil are expected to sanction two separate but neighboring LNG projects in Mozambique this year after finding large offshore gas deposits, turning the African nation into a major global gas exporter.The…

GasLog: LNG Demand Grew 9% in 2018

Image: GasLog

Liquefied natural gas (LNG) is expected to have increased by 9%, from 288 million tonnes per annum (mtpa) in 2017 to 313 mtpa in 2018, said GasLog.The Monaco-based owner, operator and manager of LNG carriers said in a stock exchange announcement that China’s LNG imports increased by approximately 16 mtpa, or 41%, to 54 mtpa in 2018, driven mainly by continued coal-to-gas switching in the industrial, commercial and residential sectors.South Korea, Pakistan, Thailand and Mexico also experienced strong growth in LNG imports during 2018.

Anadarko Shell Deal for Mozambique LNG

Image: Anadarko

US company Anadarko Petroleum has signed a major long-term contract to shore up its proposed liquefied natural gas (LNG) terminal in Mozambique.The Woodlands-based oil and gas company said that  Mozambique LNG1 Company, the jointly owned sales entity of the Mozambique Area 1 co-venturers, has signed a Sale and Purchase Agreement (SPA) with Shell International Trading Middle East. The SPA is for 2 million tonnes of LNG per annum (MTPA) for a term of 13 years. "We are very pleased to announce this SPA with Shell…

QP, Exxon to Build $10B LNG Plant in Texas

Image: Exxon Mobil

Exxon Mobil and Qatar Petroleum announced a final decision to finance a $10 billion-plus project to export liquefied natural gas (LNG) from the Texas Gulf Coast.Construction of the Golden Pass LNG export project located in Sabine Pass will begin in the first quarter of 2019 and the facility is expected to start up in 2024, said a press release.“Golden Pass will provide an increased, reliable, long-term supply of liquefied natural gas to global gas markets, stimulate local growth and create thousands of jobs…

Anadarko Sells LNG to CNOOC

Image:  Anadarko Petroleum Corporation

U.S. oil giant Anadarko Petroleum said it has signed a deal with one of China’s biggest importers to supply 1.5 million tonnes of liquefied natural gas (LNG) a year from Mozambique for a period of 13 years.The contract, signed by Anadarko and China’s GNOOC Gas and Power Singapore Trading & Marketing, gives China’s biggest liquefied natural gas importer access to world-class gas resources from Mozambique LNG, Mitch Ingram, executive vice president of Anadarko’s International…

Eni Continues High-speed Gulf Drive

Eni CEO Claudio Descalzi (Photo: Eni)

In less than 12 months Eni CEO Claudio Descalzi has turned the Middle East from a sideshow to a strategic hub for the Italian energy major. And the shift is not over.Since last March the 63-year-old has clinched nine deals in the United Arab Emirates, gained a toehold in Bahrain and expanded in Oman to reshape the group's future.In the latest deal on Sunday, Eni pledged $3.3 billion to buy part of the world's fourth-biggest refinery in the UAE, increasing its own…