The US Trade and Development Agency (USTDA) has awarded a grant to the Nigerian gas supply company, Green Liquified Natural Gas Limited (GLNG).
This grant is aimed at supporting Nigeria's increased use of natural gas for power generation, local industry and further economic growth
Thomas Hardy, USTDA’s acting director, explained, “This project will support the diversification of Nigeria’s economic development while creating opportunities for US companies to develop world-class infrastructure.
“It will also build on the commitment of USTDA to work with our Nigerian partners to develop and expand the natural gas options for the country.”
In particular, the grant from USTDA will assess the viability of an LNG liquefaction and distribution facility and associated regasification and distribution stations in southwestern Nigeria.
GLNG selected US-based NOVI Energy to conduct the study.
Anil Ahluwalia, GLNG director, said, “We are proud to announce our path-breaking LNG project in Nigeria, which will have a significant impact on Nigeria’s goal of pursuing a sustainable, environmentally friendly, alternate fuel-based economy.”
This project supports the US government’s Prosper Africa, Power Africa and Doing Business in Africa initiatives.
Bangladesh expects to import its first spot market LNG cargo around 15th to 20th September this year.
Air Products has been selected to provide its proprietary AP-X natural gas liquefaction process technology and equipment to Qatargas.
UK-based energy giant BP is planning to double the size of its global LNG portfolio to 30 mill tonnes per year by 2030, according to CFO, Murray Auchincloss.
This is part of the company's new low-carbon strategy, he explained.
Downstream gas supplies remain a key element of BP's new strategy despite a pledge to cut upstream production sharply in the coming years to focus on low-carbon energy supply, including renewables, bio-energy and hydrogen.
Speaking to analysts, Auchincloss said BP's current LNG portfolio was around 15 mill tonnes per year, made up of equity and merchant volumes in a roughly 50:50 split.
"So we're going from about 15 mill tonnes per year now to 25 mill by 2025 and 30 mill by 2030," he said.
The key to this expansion would be decisions taken about the mix of equity LNG versus merchant LNG. "That is really the big thing that we'll have to work our way through," he said.
BP has increased its involvement in merchant LNG in recent years by agreeing offtake from projects in which no equity is held, such as an agreement to buy LNG from Mozambique’s Eni-operated Coral LNG facility.
"We've got a great merchant portfolio now where you can take advantage of arbitrage and move things across locations," Auchincloss said.
He said the big decision for the coming decade is how to build up its equity LNG position and make projects competitive, citing projects, such as Browse LNG in Australia, the Tortue LNG project offshore Mauritania and Senegal, and the Tangguh LNG project in Indonesia.
"Can we get Browse off the ground with a low enough carbon content that the government and partners are happy? Can we do the next wave of LNG in Mauritania/Senegal, can we make it competitive enough?.
"The challenge for our teams is how do we make sure that our own equity [LNG projects] - the Browses of the world, the Mauritania/Senegals of the world, the Indonesias of the world - are low-cost and competitive against Henry Hub exported [LNG], with the right carbon footprint. Or should we instead move to merchant [LNG] where you don't have to deploy that capital? That's a choice ahead of us," he said.
Auchincloss - who said that the global gas market is likely to remain "materially oversupplied" in 2020 - also revealed that BP expected its Ghazeer gas project in Oman to start up this year ahead of schedule.
Ghazeer - the second phase of Oman’s giant Khazzan gas field - had been expected to start up in 2021 and is forecast to produce an additional 0.5 bill cu ft per day of gas and over 15,000 barrels per day of condensate.
Egypt’s first LNG export since March this year marks a welcome change to the country’s protracted absence. However, market indicators suggest this export from Idku LNG was a one- off, with no follow up as market fundamentals remain unfavourable for the foreseeable future. By the same token, Egypt’s other LNG plant – Damietta LNG – is also slated to remain offline after a deal to restart the plant fell through in April, presumably due to gas pricing issues.
Monthly trade decreased by 2.83mmt in June following steep demand reductions in South Korea, China and European whilst several export projects went into maintenance
After considerable delay, Myanmar’s Thanlyin LNG has advanced to regular LNG imports, suggesting the project is operating at – or close to – capacity. Vessel tracking data confirms our initial thinking on how LNG would be delivered up the relatively shallow Yangon River, though with a slight twist.