Kosmos Energy announced on February 10 that the Greater Tortue Ahmeyim LNG export facility has achieved first LNG production. The facility is located off the coast of the West African nations of Mauritania and Senegal. It is a joint venture between BP, Kosmos, and the national oil and gas companies of the two host nations. The operators intend to ship their first LNG cargo before the end of March. The majority of U.S. LNG exports have been heading to Europe recently, and Greater Tortue will offer a much shorter shipping route. However, the plant will only produce the equivalent of around 0.3 Bcf/d of LNG as it is significantly smaller than the major facilities on the Gulf Coast.
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New Dawn Fades - Floating LNG Prospects Fizzle as Operational Issues Emerge
Over the past decade, floating LNG — for liquefying and shipping offshore natural gas supply — emerged as a promising technology that would enable development of smaller, more remote offshore gas fields around the world. But with a handful of projects now completed and in commercial operation, the challenges of financing, developing, and operating this relatively new technology are overshadowing its prospects. Of the more than 20 FLNG projects that have been proposed since 2007, only five have crossed the finish line and only two others have reached a favorable final investment decision (FID). Moreover, Shell’s Prelude FLNG offshore Northwest Australia — the largest of the existing FLNG facilities — has been dogged by issues since its commissioning in mid-2019, and the operator last week said the unit will not produce any more LNG cargoes this year, after being shut down since February for electrical problems. Today, we examine the headwinds facing FLNG projects.
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Buy Me a Boat - Will the Gulf Coast Soon Be Home to Floating LNG Export Capacity?
The need for more LNG export capacity, driven both by Europe’s push to wean itself off Russian gas and long-term Asian demand growth, is resulting in a new wave of development. Two major U.S. projects have reached a positive final investment decision (FID) in the past six months and more are likely to do so soon, both in the U.S. and elsewhere. But conventional export terminals take time to build, leading at least some, like New Fortress Energy, to explore the potential for floating LNG (FLNG) facilities — basically, an LNG export terminal located on the topside of a large tanker — which can bring new capacity online faster, much like the floating storage and regasification units (FSRUs) that are now boosting European import capacity. In today’s RBN blog, we take a look at FLNGs, what’s already out there, and what could be coming to North America in the next few years.
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Just Can't Get Enough, Part 2 - Growing U.S. LNG Output Has Influenced Global Logistics, Pricing
The first wave of LNG projects has done more than just catapult the U.S. to the top tier of LNG exporters, it has reshaped markets, helped move LNG closer to being a true global commodity, and spurred changes in everything from ship sizes and routes to contract types and pricing formulas. Talk about having an impact! And, with new projects still coming online in the U.S. and final investment decisions expected on new terminals and expansions this year, the U.S. LNG industry’s effect on the global gas trade is sure to grow. In today’s RBN blog, we look at the practical impacts that have accompanied growing U.S. production with an emphasis on logistics and, perhaps most important, the changes to LNG pricing in Asia.
