LNG

Seatrium Group of Singapore, formerly called Sembcorp Marine Ltd and renamed as Seatrium following its merger with Keppel Offshore & Marine, has successfully delivered the converted floating LNG production vessel for the BP-led FLNG project offshore Mauritania and Senegal.

Marathon Oil Corp., the US company and shareholder in Equatorial Guinea LNG in West Africa, has signed an accord with a unit of US major Chevron to progress with the development of the Equatorial Guinea Regional Gas Mega Hub (GMH) project.

UK major BP more than doubled annual profits, though was hit by slowing natural gas prices during the fourth quarter and expected a flat 2023 with among the main highlights being the start-up of two LNG projects in West Africa and Indonesia.

Marathon Oil Corp., the shareholder in Equatorial Guinea LNG in West Africa, has completed the acquisition of private equity-backed firm Ensign Natural Resources for $3 billion in cash to almost double its position in the Eagle Ford shale basin of South Texas.

West Africa LNG Group (WALNG) has signed an equity financing deal with an undisclosed US-based investor group.

"We are delighted to complete this investment, which provides us with the necessary financial resources to fund our operating activities, as we finalise long-term offtake agreements with the mining companies in Guinea," said Patricia Moller, WALNG Chair.

"This financing also gives us greater flexibility as we negotiate with potential strategic and financial partners who have expressed strong interest in participating in the transformative Guinea LNG project." 

Boasting some of the world's most abundant natural resources and highest quality minerals, Guinea has long suffered from a severe lack of energy to develop its economy and improve the lives of its people. 

In response to the Guinean Government's request for a competitively priced, abundantly available, and environmentally sustainable fuel source, WALNG is developing an LNG import terminal and distribution network in the country. 

Guinea is currently in discussions with several investors, as well as potential offtake customers.

The Guinea LNG project will supply commercial quantities of natural gas to bauxite mining companies in the Boké, Bel-Air, and Boffa regions to generate power for existing operations and planned bauxite processing facilities (alumina refineries).

A comprehensive feasibility study funded by the US Trade and Development Agency (USTDA) was recently completed. The study identified over 2,000 MW of power demand from the bauxite industry alone within a 100-mile radius of the terminal’s location.

WALNG is a natural gas-based fuels products and services company specialising in customised turnkey solutions.

New Fortress Energy Inc, the expanding LNG terminals, production, shipping and power assets owner has signed an agreement with Mexico’s national energy company Petróleos Mexicanos (Pemex) to form a strategic partnership including a floating LNG project in the Gulf of Mexico.

July 6 (LNGJ) - Kosmos Energy, the Dallas-based company developing a natural gas and FLNG joint venture with UK major BP offshore Mauritania and Senegal in West Africa, has given an operational update on the project with a delay expected for first gas.

   “In Mauritania and Senegal, the Greater Tortue-Ahmeyim project continued to make steady progress during the quarter with key milestones achieved across all major workstreams,” said Andrew G. Inglis, Chairman and Chief Executive of Kosmos. “However, we are seeing cost inflation and supplier delays in the current environment together with some scope growth and, as a result, we are updating our estimates, with first gas now expected in the third quarter of 2023. Tortue is the right project at the right time with Phases 1 and 2 expected to deliver attractive returns in a strengthening LNG market,” Inglis added.

Karmol, the Turkish-Japanese joint venture, said its first floating storage regasification unit (FSRU) has been delivered by Sembcorp Marine in Singapore and will begin sea trials ahead of deployment in the West African state of Senegal in June.

Kosmos Energy, the Dallas-based shareholder with BP of the UK in the floating LNG projects offshore Mauritania and Senegal, said it looked forward to building a self-funded gas business in West Africa and progressing with its high-quality exploration prospects for 2021.

Global energy companies last year made the highest number of oil and natural gas discoveries since 2015, including several set to be used in liquefied natural gas production.