LNG
Suspended by force majeure since the spring of 2021, work on the Mozambique LNG project has restarted with over 4,000 workers now engaged onshore and offshore to meet a 2029 deadline for first LNG.
Despite a 2.8% drop in liquefied natural gas exports in 2025 because of lost market share in China, Australia anticipates a 2026 rebound as new North West Shelf capacity comes online. Meanwhile, East Coast operators brace for a tsunami of wells entering the decommissioning pipeline and potential energy shortfalls necessitating LNG imports.
A series of major advances will move Phase One of the Alaska LNG Project from the development phase into execution.
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Train 7 is scheduled for commissioning by 2024 and would bring total capacity of Nigeria LNG’s complex to 30 mtpa. -
New LNG capacity in 2019 kept pace with higher trading volumes and supply/demand growth. Key questions and barriers still remain for the future of the LNG industry in 2020.
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The W-Industries contract comes 2 months after Worley was awarded a master service agreement for services on the Mozambique LNG project.
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The proposed Russian LNG project would sell LNG to Asia by 2025. It is the latest in a handful of LNG projects slated for Russia.
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The LNG market remains a mixed bag heading into Q2. Port Arthur LNG is just the latest to see a delayed FID, while other LNG projects are still moving ahead.
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Historically, natural gas contract prices were tied to the price of crude; now, volatility and growth in spot-market liquidity signal a shift from long-term linking toward a more integrated market.
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The final commissioning stage of Train 3 brings the Cameron LNG project closer to initial production expected in Q2.
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The planned JV is for one of three LNG terminals GCL is planning to build in China.
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Qatar Petroleum will delay its North Field LNG expansion in Qatar with startup in 2025. Its Golden Pass project in Texas remains on track.
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The VLCCs will be delivered in 2022, with LNG supply provided by Total Marine Fuels Global Solutions.
