Page 7 - LatAmOil Week 42 2022

LatAmOil TRINIDAD & TOBAGO LatAmOil

Atlantic LNG saw exports to Europe rise in Q3-2022 (Image: Atlantic LNG)

Atlantic LNG’s output rises 28% in Q3-2022

ATLANTIC LNG, the operator of a natural winter. Deliveries from Russia, traditionally the
gas liquefaction plant in Trinidad and Tobago, largest single supplier of gas to the European
succeeded in raising output by 28% in the third market, have dropped significantly since the
quarter of 2022, even though one of its produc- outbreak of war in Ukraine earlier this year.
tion trains remains shuttered, according to data Atlantic LNG responded to an inquiry from
viewed by Reuters. Reuters earlier this week by acknowledging that
The news agency said earlier this week that it was sending more fuel to European customers.
it had seen figures from the Ministry of Energy Exports to Europe went up by around 45% year
and Energy Industries (MEEI) showing that the on year in the third quarter of 2022, the plant
plant’s second, third and fourth trains processed operator said, comparable to the rate of increase
1.32bn cubic feet (37.38mn cubic metres) per since the beginning of the year.
day of gas between July and September. In the “Year to date, 40% of the LNG delivered to
previous quarter, by contrast, these trains han- our Train 2 and 3 LNG off-takers was shipped to
dled 1.04 bcf (29.45 mcm) per day of gas. Europe. This represents roughly a 45% increase
Collectively, Trains 2, 3 and 4 were operating in volumes delivered to Europe over the same
at 82.5% of their combined capacity of 1.6 bcf period last year,” it stated.
(45.31 mcm) per day in the third quarter of the Atlantic LNG has four production trains
year, according to the MEEI figures. with a combined capacity of 14.8mn tonnes per
Processing volumes went up partly because year (tpy). Each of the trains is owned by a sepa-
Shell (UK), which is the largest shareholder rate group of shareholders and sources feedstock
in Atlantic LNG, was able to provide larger from a different set of gas fields. Shell is a key
amounts of gas to the plant. However, Atlantic shareholder in the plant, as it has a 46% stake in
LNG was also responding to rising demand Atlantic LNG’s Train 1, a 57.5% stake in Train
for gas among in customers in Europe, where 2, a 57.5% stake in Train 3 and a 51.11% stake
buyers are anxious to secure supplies ahead of in Train 4. Train 1 has been idle since 2020. ™

Touchstone gearing up to bid for more than

one onshore block in Trinidad and Tobago

PAUL Baay, the president and CEO of Touch- and Tobago’s onshore and near-shore licensing
stone Exploration (Canada), revealed last week round this year.
that his company was looking to bid on more The company is particularly keen on the
than one of the 11 blocks included in Trinidad onshore blocks, Baay said.

Week 42 19•October•2022 www. NEWSBASE .com P7