LNG Prime’s Post

As #Africa looks to develop its #gas for domestic and #export markets, the #UnitedStates is honing in on #liquefiednaturalgas (#LNG) as a critical #investment avenue, alongside traditional #oil exploration. While American companies are already at the helm of the continent’s booming LNG industry, there is room to grow their participation, particularly in #FLNG.

As #Africa looks to develop its #gas for domestic and #export markets, the #UnitedStates is honing in on #liquefiednaturalgas (#LNG) as a critical #investment avenue, alongside traditional #oil exploration. While American companies are already at the helm of the continent’s booming LNG industry, there is room to grow their participation, particularly in #FLNG.

#eni #mozambique #lng Eni SpA has secured significant interest for its next floating liquefied natural gas project in Mozambique, despite international lenders' growing pressure to reduce fossil fuel exposure. The plant, which will cost around the same as its $7 billion Coral South project, is expected to be completed this quarter. The US Export-Import Bank has listed the project as pending, and Eni will be able to extract 5% more LNG from it, bringing production to 3.6 million tons of LNG per year. The plant is located in Mozambique's Area 4 concession and is backed by partners such as Exxon Mobil Corp., China National Petroleum Corp., Abu Dhabi National Oil Co, Korea Gas Corp., and Mozambique state producer Empresa Nacional de Hidrocarbonetos E.P. The government's approval could be finalized in the coming weeks. However, funders of TotalEnergies SE's $20 billion onshore facility in Mozambique still need to reaffirm commitments. Source: #bnnbloomberg 👇 👇 https://lnkd.in/dNEr92FJ #energy #natgas #oilgas

While other major companies face challenges developing new LNG production in the overly expensive, over-litigated, profit only over reputation U.S. — as demonstrated by Venture Global — the Italian major ENI shows that LNG can be developed without the hurdles of the U.S. in other parts of the world. ENI has garnered significant interest for its next floating liquefied natural gas (FLNG) project in Mozambique, even as international lenders face growing pressure to reduce exposure to fossil fuels. ENI already operates a producing FLNG facility in Mozambique in partnership with two other gas players, and it has both a floating storage and regasification unit (FSRU) and another FLNG unit under construction. Luca Vignati, director of Eni’s upstream business, said in an interview that the new plant will cost approximately the same as its $7 billion Coral South project, which was inaugurated in 2022. He noted that investment decisions for the new plant could be made as soon as this quarter. "Financing from international institutions and initial investors has exceeded our expectations," Vignati said. He added that Coral South’s reliable output since its inception reassures banks considering involvement in the Coral North project, as they "see something that is already running." The new vessel will be identical to its predecessor, but ENI expects to extract 5% more LNG from it, Vignati said, bringing total production to 3.6 million tons of LNG per year. https://lnkd.in/dMdJM3pM

New Year, New Energy!⚡️ Important developments took place in the energy industry over the holiday season! Here's a quick roundup: 🛠 Seplat completed the installation of the ANOH gas plant, boosting domestic and regional supply. 🌍 Petrobras expanded to Africa, securing stakes in Sao Tome and Principe for upcoming exploration activities. 🔥 Eni's Congo LNG project is on track to become the country's first LNG producer by 2024, marking a significant milestone. 💡 Rex International Holding secured a stake in offshore Benin's Seme Field, aiming to revitalise and increase oil recovery. ⛽️ Corcel's drilling results in Angola revealed promising oil prospects, signaling potential production reactivation. 🌟 Invictus Energy raised A$15m for more exploratory ventures in Zimbabwe's Cabora Bassa project, following last year's gas discoveries. Read the full article for more details: https://lnkd.in/dDxuwqw5 #EnergyIndustry #NewYearUpdates #AOW2024 #investinginafricanenergy

The African Energy Chamber (AEC) is drawing attention to the promising prospects within Angola’s oil and gas sector. The Chamber emphasizes that oil and gas are central to Angola’s economy, which has undergone “aggressive reform” since 2017. Notably, since 2019, Angola has initiated multiyear licensing rounds for offshore oil and gas exploration and production blocks, inviting foreign companies to participate. This initiative has resulted in the awarding of over 27 blocks to date. The latest round attracted 53 bids for 12 blocks in the Lower Congo and Kwanza basins... Read here: https://lnkd.in/db2ugp2e #Gas #Oil #SouthAfrica

Well done Eni. You are really good at fast-tracked developments

Another significant investment by an ANGEA member company in a project that will make a strong contribution to Asia's energy future. ExxonMobil's latest 20-year supply deal with Mexico Pacific paves the way for a final investment decision on the addition of a third train to the Saguaro Energia LNG Facility. Saguaro Energia's west coast location makes it particularly well-suited for shipping US gas to Asian markets. #lng #lngindustry #naturalgas #naturalgasindustry #energytransition #energysecurity

🚀 Exciting News in LNG Development! 🌍 Technip Energies spearheads successful tests on Eni's Coral Sul FLNG unit in Mozambique, confirming an annual LNG production capacity of over 3.4 million tons. A groundbreaking achievement for Mozambique, as Coral Sul becomes the first-ever floating LNG facility in Africa's deep waters. Delivered on schedule in 2023, it aligns with Eni's goals for Area 4 gas development. Mozambique Rovuma Venture, led by Eni, ExxonMobil, and CNPC, holds a 70% stake in Area 4, with Galp, Korean Gas Corp., and ENH as minority partners. Constructed by Samsung Heavy Industries, the Coral Sul FLNG unit is a colossal engineering feat, measuring 432m in length, 66m in width, and weighing 220,000 tons. Kudos to the collaborative efforts of all stakeholders, solidifying Mozambique's global LNG market presence. 🌐👏 #LNG #Mozambique #energyinnovation Source : https://lnkd.in/gZVFXXCz

Eni and TotalEnergies are swiftly developing natural gas deposits off Cyprus to supply Europe   Eni said Wednesday that drilling to appraise a third natural gas discovery in waters off Cyprus shows the commitment of the Italian energy company and its French partner TotalEnergies to swiftly develop the deposit and bolster energy supply to Europe. 🔽 Find more info in comments below 🔽 #Eni #TotalEnergies #NaturalGasDiscovery #OffshoreOilandGas #OilandGasNews ⤵️ Click Follow on our page to keep up to date with energy news ⤵️