LNG

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.

Cheniere Energy requested issuance of the feedstock permit from FERC by 29 June. The FID for Train 3, estimated at approximately $3 billion, was announced last month. Bechtel got the green light to proceed with EPC work, subcontracting with BHGE for the gas turbines to drive compressors.

A new report from GIIGNL shows increased liquefaction capacity in Australia and the US as the key drivers in LNG supply growth, while Asia has been the leader in global LNG import growth.

TechnipFMC confirms the December shipment of LNG from its new facility in northern Russia, one of the largest integrated LNG projects in the world.

Natural gas is the only fossil fuel that will maintain its share in the energy mix of the coming decades, mainly supported by policies to reduce air pollution and greenhouse gas emissions.

The US Energy Information Administration reports that increased liquefaction and utilization from new facilities has led to a jump in LNG exports in 2017.