Anadarko Nearing FID for Mozambique LNG
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
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
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
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
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
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…
Anadarko, CNOOC Ink Mozambique LNG Deal
Anadarko Petroleum Corp said on Friday a long-term agreement had been signed with the trading division of China's state-owned offshore oil and gas producer CNOOC Ltd to supply liquefied natural gas (LNG) from Mozambique.The deal will bring it one step closer to making a final investment decision for its East African LNG project, with the decision expected in the first half of this year.Mozambique LNG1 Company, the jointly-owned sales entity of the Mozambique Area 1 co-venturers, had signed a sales and Purchase Agreement (SPA) with CNOOC's gas and power Singapore Trading and
FLNG Market Oversupplied
Floating liquefied natural gas (FLNG) projects may have peaked already amid intensifying competition in the LNG space, a review of the global FLNG sector released by global natural resources consultancy Wood Mackenzie has suggested.In a world requiring tight capital discipline, FLNG offers lower capital investment and manageable costs, particularly in frontier regions. But Wood Mackenzie indicated that future project opportunities are in short supply as FLNG competes for capital and buyers in a busy LNG market.
Record LNG Capacity to Get Green Light in 2019
A record amount of liquefied natural gas (LNG) production is expected to get the green light in 2019 amid strong global demand, especially from China, analysts said.A final investment decision (FID) could be taken on more than 60 million tonnes per annum of LNG capacity this year, well above the previous record of about 45 million tonnes in 2005 and triple last year's 21 million tonnes, Wood Mackenzie's research director for global gas and LNG, Giles Farrer, said.The new capacity would bulk out the pipeline of gas set to come on stream in coming years…
Consortium Bags Commitments for Rovuma LNG Project
Area 4 co-venture participants -ExxonMobil, Eni, China National Petroleum Corporation (CNPC), Empresa Nacional de Hidrocarbonetos, Kogas and Galp - have secured liquefied natural gas (LNG) offtake commitments from affiliated buyer entities of the partnersA press release from ExxonMobil hailed this as a key milestone enabling the participants to rapidly move toward a final investment decision in 2019 on the first phase of the Rovuma LNG projectThose commitments are subject to the conclusion of fully-termed agreements…
Rovuma LNG Moves Toward FID in 2019
Partners in the Rovuma liquefied natural gas (LNG) project in Mozambique say they are moving “rapidly” toward a final investment decision (FID) for the first phase of the project in 2019 after securing LNG offtake commitments from buyers.The project will produce, liquefy and market natural gas from the Mamba fields located in the Area 4 block in the Rovuma Basin offshore Mozambique. Area 4 participants are ExxonMobil, Eni, China National Petroleum Corporation (CNPC)…
New O&G Projects to Expected to Accelerate
The number of new oil and gas projects will rise five-fold next year from a 2015 trough but overall spending is still unlikely to be enough to meet future demand, consultancy Wood Mackenzie said in a report.Shaken by a sharp drop in oil prices in recent months, boards are generally expected to stick to spending discipline imposed following the 2014 price crash.Global investment in oil and gas production, known as upstream, is expected to reach around $425 billion next year…
Qatar Buys Eni's Mexican Oil Stakes
Qatar Petroleum (QP) signed an agreement with Italy’s Eni SpA to acquire a 35% stake in three offshore oil Fields in Mexico.The agreement cover the Amoca, Mizton, and Tecoalli offshore oil fields, which lie in Area 1 in Mexico’s Campeche Bay, said a press statement from the Arab country's government-owned energy company.The agreement is subject to customary regulatory approvals by the government of Mexico. Following such approval, both Eni and Qatar Petroleum will jointly hold 100% interest in the Area 1 production sharing contract.Commenting on this agreement…
Equinor to Start Talks With Tanzania Over LNG project
Norway's Equinor is ready to start talks with Tanzania on developing a liquefied natural gas (LNG) project based on a deepwater offshore discovery, the company said on Tuesday.Tanzanian President John Magufuli has asked his government to proceed with negotiations to set out the commercial and fiscal framework for the LNG project, Equinor, a majority state-owned energy company formerly known as Statoil, said."Equinor will now proceed with our partner ExxonMobil with negotiations for a host government agreement," an Equinor spokesman said in an email to Reuters.He said it was
Eni in Talks to Grow Presence in the Gulf
Italian major Eni is in talks to grow its footprint in Oman and the United Arab Emirates as part of plans to build its asset base in the oil-rich Gulf and offset its reliance on Africa, a source close to the matter said.The international oil company has a limited presence in the Middle East, where some of the world's biggest oil and gas reserves lie, producing more than half its output in Africa."Eni is in talks with Oman for various opportunities," the source told Reuters…
LNG Shipping Market in Recovery Stage: Flex LNG
Norwegian-born billionaire John Fredriksen-owned LNG shipper Flex LNG believes that the LNG market is in the early stages of a multi-year recovery.According to a report by Flex LNG, the market for seaborne transportation of LNG has improved significantly during the third quarter with the primary driver being the nearly 50 per cent year on year growth in imports to China.Additionally there is high demand growth in other more mature markets such as South Korea and…
BP to Invest $1 Bln in South Africa
BP Southern Africa (BPSA) will invest $1 billion in South Africa in the next five years with more than a quarter of that set aside to upgrade the SAPREF refinery to produce lower sulphur diesel, its chief executive said on Thursday.The 180,00 barrels per day SAPREF refinery, South Africa's largest, is a 50:50 venture between Royal Dutch Shell and BPSA, a subsidiary of British oil major BP. The plant is located in the east coast city of Durban.BP would invest 3.5 billion-4 billion rand ($252 million-$288 million) in the refinery upgrade…
Madagascar Opens Fresh Offshore Licensing Round
Island nation Madagascar puts 44 blocks in the Morondava Basin up for grabs, detailing exploration and exploitation periods under production sharing contracts.In the framework of the development of Madagascar's oil and gas potential, the Malagasy State through OMNIS continues to promote projects that attract new private investment in the short, medium and long term.The state regulator OMNIS, together with TGS and BGP, has worked to create an attractive environment…
Eni Wins Offshore Mozambique Block
Italian oil and gas major Eni has signed in Maputo the contract for the exclusive exploration and development rights of the offshore block A5-A, in the deep waters of the Northern Zambezi Basin, approximately 1,500 km to the north east of the capital Maputo.With this acquisition, Eni further strengthens its presence in Mozambique, a country that has a strategic relevance for the company, said a press release from the company.The block was awarded to Eni as a result of the participation to the 5th competitive Licensing Round launched by the Republic of Mozambique.
Shell's LNG Canada Seen as Tip of Megaproject Iceberg
The launch of a massive liquefied natural gas (LNG) export project in Canada has finally fired the starting gun on a wave of plan approvals around the world, needed to avoid a supply crunch after 2020.Royal Dutch Shell said it would export LNG from Western Canada by 2025 after approving a $14 billion project, hot on the heels of Qatar's commitment last week to expand its facilities.The two announcements, adding 37 million tonnes a year (mtpa) to the 290 million tonnes traded in 2017…
