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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The state-owned firm is looking within its home country, around Southeast Asia, and to the Americas—including shale—in an effort to maintain its forecast average yearly production of 1.7 million BOE/D over the next 5 years. -
The US Department of Energy authorized the export from the terminal’s fourth liquefaction train to countries that have no free trade agreement with the US.
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Louisiana state granted a tax incentive to LNG Ltd. for its Magnolia project in Lake Charles. Although a beneficial development, it’s a drop in the bucket in the company’s progress toward FID.
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The deal with project developer Sempra includes Saudi Aramco netting 5 mtpa of LNG offtake and a 25% equity stake in Phase 1 of the export terminal, which may reach FID later this year.
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Santos signed a binding letter of intent to acquire a 14.3% interest in Petroleum Retention License 3, which contains the P’nyang natural gas field in Papua New Guinea.
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The escalation of the trade war between the US and China could jeopardize several LNG megaprojects that are awaiting final approval.
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A final investment decision is expected later this year on the project, which will involve the construction of two trains with a combined annual capacity of more than 15 mtpa of LNG.
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The Russian independent will likely sell an ownership stake to an additional partner in the coming weeks, joining Total, CNOOC, and CNPC. FID is expected to take place later this year.
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Driftwood is authorized to export up to 3.88 Bcf/D, and Port Arthur gets go-ahead for 1.91 Bcf/D of natural gas as LNG.
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An EIA report shows natural gas exports reaching 4.6 Bcf/D in February, the 13th consecutive month in which the country's natural gas exports exceeded its imports. Exports are projected to reach 7.5 Bcf/D by 2020.
