LNG

With new projects scheduled to come on line later this year, the region, which mostly comprises states along the US Gulf Coast, will shift from being a source of natural gas supply to a source of growing demand.

The US Army of Corps of Engineers pulled the permit application after the company requested an extension on a review deadline for the project, which could accommodate up to 6 million tons of LNG production annually.

KBR will head a joint venture with TechnipFMC and JGC to provide a basic design package and EPC bid for the Bonny Island expansion.

With interest in FSRUs and FSUs picking up, the conversion of LNG carriers offers a fast route to operational availability.

The head of US regulatory commission said that it has been working on "streamlining" the application process this year, and that details of a revised process should be available soon.

Mozambique Rovuma Venture submitted the development plan for the first phase of the project, which will produce, liquefy, and market natural gas from the Mamba fields located in the Area 4 block offshore Mozambique. An FID is scheduled next year, with production expected to begin in 2024.

The $1.5-billion deal delivers a world market share of 10%, including a 16.6% stake in the US Cameron LNG project.

The oil and gas industry has vastly accelerated the pace of approving investments for new projects over the past 18 months. New facilities worth more than $110 billion have been approved for development since the beginning of 2017 vs. only $50 billion in 2016.

The Alaska Gasline Development Corp., a state-owned corporation, is preparing an equity offering for this summer for its $43-billion LNG project. BP agreed to sell natural gas from Prudhoe Bay for export to Asia-Pacific.

The Petroleum Safety Authority Norway launched an investigation into an LNG leak at the Hammerfest LNG plant on 17 June.