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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Natural gas, often hailed as the bridge to an energy future that will include greater demand for alternative energy supplies, may be poised to overtake oil as the globe’s primary fuel source in the next decade. -
ExxonMobil signed a sales and purchase agreement with Zhejiang Provincial Energy Group for LNG supply. Zhejiang Energy is expected to receive 1 mtpa over 20 years.
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The move comes weeks after Gazprom announced a final development concept for the project. Other projects Shell is developing with Gazprom, including the Sakhalin 2 export facility, will not be impacted by the decision.
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The gas agreement clears the way for the FEED phase; FID expected in 2020.
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More flexible approaches to financing, production, and trading are crucial to meeting world’s needs, new study finds.
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The 15-year deal calls for 1 million tons of LNG to be shipped each year to the Iberian Peninsula. Final investment decision on the project is expected in the second half of 2019, with the first liquefaction train scheduled to start up in 2023.
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Most underground gas-storage facilities are depleted reservoirs. What makes depleted reservoirs attractive is the presence of existing wells used to produce the reservoir, plus the geologic and engineering knowledge acquired during the development of the field.
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The project framework agreement moves the proposed conversion of Lake Charles LNG’s import and regasification terminal closer to sanction, which is expected sometime this year.
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China Energy Reserve and Chemicals Group is exploring the possibility of importing LNG from the US via ISO containers loaded from the West Coast.
