Global natural gas prices bounced back Monday, lifted by escalating tensions in the Middle East, where increasing attacks in the Red Sea have impacted commercial shipping operations. BP plc joined a growing list of major shipping companies in announcing that it would halt all of its oil and natural gas cargoes in the Red Sea.…
Africa
Articles from Africa
Nigeria’s Path to Become a Global LNG Power Player Still Blocked by Critical Hurdles – Column
In July of last year, facing the prospect of its first winter without access to LNG supply, the European Commission (EC) sent the deputy director of its energy department on a fact finding mission to Nigeria.
FLNG Gaining Traction in Sub-Saharan Africa as Onshore Natural Gas Plans Languish
Depending on politics and investments, Sub-Saharan Africa (SSA) natural gas producers have a chance to become globally competitive LNG exporters within the next decade. As Europe seeks to replace gas supplies previously supplied by Russia, the continent has turned to SSA for additional volumes. Many liquefied natural gas projects in the region, though, are unlikely…
BP, Kosmos Explore 2.5-3 MMty Second Phase for West Africa LNG Export Project
BP plc and its partners in the Greater Tortue Ahmeyim (GTA) natural gas field are evaluating a second phase expansion for the floating LNG production project offshore West Africa as first phase construction progresses. BP, Kosmos Energy Ltd., Senegal’s Petrosen and Mauritania’s Société Mauritanienne des Hydrocarbures have agreed to evaluate a 2.5-3 million metric ton/year…
New Fortress Planning FLNG Stake Sale to Golar as Focus Turns Inward
New Fortress Energy Inc. (NFE) has agreed to sell its stake in Golar LNG Ltd.’s floating liquefied natural gas (FLNG) production platform in Cameroon as it focuses on increasing utilization of its fleet and strengthening returns to investors. New York-based NFE will sell its stake in the 2.4 million metric ton/year platform Hilli Episeyo for…
Eni Plans Second Republic of Congo FLNG Unit in Bid to ‘Leverage Gas Equity’
Eni SpA is moving forward with plans to increase natural gas exports from the Republic of Congo with a second floating LNG (FLNG) terminal provided by Wison Heavy Industry Co. Ltd. The Italian supermajor disclosed a contract Thursday with the unit of Shanghai-based Wison to construct and install a 2.4 million metric tons/year (mmty) capacity…
Eni Moves to Replace Russian Natural Gas Imports as High Prices Sustain Profits
Italy’s Eni SpA saw its natural gas sales drop by almost a quarter in the third quarter of 2022 compared to year-prior levels, but soaring commodity prices led it to another high profit period as it progresses efforts to replace Russian imports and optimize its LNG business. The firm’s natural gas sales plummeted during the…
Italy’s Eni Stems Falling Natural Gas Sales with LNG, Production Agreements
Italy’s Eni SpA expects to beat previous guidance on new exploration volumes and continue its pace of securing new natural gas sources for European markets as it seeks to reverse the hit its LNG and European gas marketing businesses took in the second quarter. The Rome-based supermajor, majority-owned by the Italian government, has been focusing…
African LNG Eyed to Assist in Europe’s Quest to Replace Russian Natural Gas
Sub-Saharan Africa (SSA) is looking to boost its natural gas exports over the next eight years, a supply source that could help supplant the loss of Russia’s imports to Europe. The SSA could expand liquefied natural gas (LNG) exports to 60 million metric tons/year (mmty) by 2025 and to another 74 mmty by 2030, according…
Equinor Writes Down Tanzania LNG Project on Weak Economics
Equinor ASA said Friday it would make a $982 million writedown of its Tanzania liquefied natural gas (TLNG) export project proposed for east Africa, saying it does not currently compete with other projects in the company’s portfolio. “While progress has been made in recent years on the commercial framework for TLNG, overall project economics have…