Page 4 - GLNG Week 34 2022

GLNG AFRICA GLNG

First export tanker arrives

at Mozambique LNG

TANKERS AN LNG tanker operated by BP (UK) is due to of France and ExxonMobil (US), plan to invest
arrive in Mozambique on August 24 to pick up up to $50bn in developing larger projects. IOCs
the south-eastern African country’s first export have already discovered about 5.1 trillion cubic
cargo of the fuel, Bloomberg has reported. metres of gas in the basin.
TradeWinds had reported earlier in the week, Eni’s first LNG cargo will mark Mozambique’s
citing Kpler shipping data, that the tanker would entry into the ranks of the world’s exporters as a
arrive on August 18. However, Bloomberg gave global energy crunch pushes prices of the fuel to
the later date on August 19, citing its own com- record highs.
pilation of shipping data. LNG Prime concurred, In Europe, for example, supplies have been
saying that the ship’s AIS data as provided by tight and prices high following Russia’s invasion
VesselsValue indicated the same arrival date. of Ukraine, leading countries including the UK
BP, which has signed an agreement mak- and Germany to warn that the fuel squeeze could
ing it the sole off-taker of LNG from the Coral prompt rationing and trigger a recession. In an
Sul FLNG vessel, is using the British Mentor, a effort to end their dependence on Russian gas,
173,644-cubic metre tanker, to load the cargo. European buyers have been paying high prices as
It will pick up the gas from the Coral Sul float- they compete with other buyers to secure LNG
ing LNG (FLNG) vessel, which was installed at cargoes ahead of the winter.
the Coral field earlier this year. Coral is the first Strong European demand has already led Eni
development target within the offshore licence to expand the scope of the Coral South LNG pro-
area assigned to Coral South LNG, the consor- ject. The Italian major said recently that it was
tium led by Eni (Italy) that is developing the field. planning to add a second floating LNG facility
Eni is in the final stages of preparing to launch so that it could expand production within less
regular commercial production operations at than four years.
the site, which lies off the coast of Mozambique’s Eni’s progress also comes as an Islamist
northernmost Cabo Delgado province, and is insurgency north of Mozambique has disrupted
targeting first exports next month. (TradeWinds TotalEnergies and ExxonMobil’s projects.
reported on August 17 that the date of the first TotalEnergies had to evacuate workers from its
tanker shipment had recently been brought for- Mozambique LNG project site after the rebels
ward from the previous date of September 21 to attacked a nearby district in early 2021. The
September 10.) conflict has killed more than 4,000 people and
The Italian major is using the $7bn, 3.4mn displaced about 800,000 more since its start in
tonne per year (tpy) Coral Sul FLNG vessel to October 2017, according to reports. ExxonMo-
develop a section of Area 4 in the Rovuma basin, bil, meanwhile, has delayed a final investment
a zone where several other international oil decision (FID) on its own Rovuma LNG project,
companies (IOCs), among them TotalEnergies which is at a less advanced stage.™

P4 www. NEWSBASE .com Week 34 26•August•2022