LNG
ExxonMobil and its Area 4 partners have awarded $1.1 billion in pre-investment contracts for long-lead upstream equipment supporting Mozambique's Rovuma LNG project. The awards, led by OneSubsea, mark a key step toward FID as development advances on ExxonMobil's largest global investment.
The sale of Woodside’s Calypso stake to BP completes the company’s withdrawal from Trinidad and Tobago after decades of operations in the country.
ExxonMobil’s Letter of Intent to begin preliminary engineering and procurement work for Mozambique’s Rovuma LNG project bridges the development to a final EPC contract, which Area 4 partners are expected to award following an FID anticipated by year-end 2026.
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Train 2 has a projected export capacity of 4 mtpa. Train 3 is expected to reach production in Q2 2020. -
AG&P breaks ground on Karaikal LNG.
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Qatar has reportedly delayed the selection of Western partners for its massive North Field LNG project.
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Texas facilities get green light to export LNG. US export capacity is expected to almost double over the next 5 years.
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The unseasonably warm weather in the northern hemisphere and the rise of the global supply levels has resulted in record-low LNG prices. Adding to that, the coronavirus epidemic in China has reduced business and industrial activity, with January’s LNG imports dropping by about 10% year on year.
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A producer in the Marcellus Basin selected Edge Gathering Virtual Pipelines 2 to capture and liquefy gas from its stranded wells in Tioga County. Initial operation is underway and is set to be ongoing until at least 2022.
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Asian spot prices for LNG took a dive to multiyear lows, feeling the pressure of the lack of demand. Holders of previously agreed upon long-term buyer contracts seek renegotiation.
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Natural gas has emerged as a potentially major player in the energy mix, but what role will price pressures play in sanctioning gas supply projects and in LNG markets?
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The move allows Venture Global further evaluate pipeline route alternatives that could reduce impacts in tidal marsh environments along the Mississippi River.
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The agreement comes 8 months after Saudi Aramco agreed to take a 25% ownership interest in the southeast Texas project. Phase 1 of the project is expected to produce 11 mtpa of LNG.
