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DMEA
NEWS IN BRIEF
DMEA
of deploying modular refinery in the country to enhance business growth, human and environmental protection.
On his part, Commercial Specialist at
US Consulate Commercial Department,
Mr. Chamberlain Eke, added that though funding has always hampered such initiatives, especially with reference to the commercial scale envisaged, however, the enthusiasm of the current administration will facilitate funds sourcing.
THIS DAY
FUELS
Uzbekistan’s aviation fuel
imports from Turkey down
in May
Uzbekistan’s aviation fuel imports from Turkey in May fell almost seven-fold year on year from 727 tonnes to 106.2 tonnes, 2022, Trend reported on August 9, citing Turkey’s Energy Market Regulatory Authority (EPDK).
Turkey exported over 2,860 tonnes of aviation fuel to Uzbekistan from January through May, marking a decline of around 1.8 times year on year, the media outlet added.
On a month on month basis, Uzbekistan’s imports of Turkish aviation fuel in May grew by 42.5%.
BNE
TERMINALS & SHIPPING
Eni purchases Exmar’s Tango FLNG unit for Congo
Italian oil major Eni SpA has secured a small-scale floating LNG (FLNG) vessel for installation at the Marine XII block offshore Republic of Congo.
In a statement dated August 5, Eni reported that it had acquired Export LNG Ltd, the owner of the Tango FLNG unit,
from Belgium’s Exmar. The company didn’t comment on the terms of the transaction, but said in a statement that access to the vessel, which is capable of liquefying 600,000 tonnes per year (tpy) of natural gas, would allow it to accelerate the start of LNG production at Marine XII.
“The acquisition of this facility allows the development of a fast-track model capable of seizing the opportunities of the LNG market,” it commented.
“In addition, the high flexibility and mobility characteristics of the Tango FLNG will favour the development and enhancement of Eni’s equity gas by accelerating production start-up time.”
Exmar confirmed the agreement, saying in a separate statement that it had struck a deal with Eni on the sale of the Tango FLNG unit. The Belgian company put the value of the sale at $572mn-$694mn, explaining that the exact price would depend on Tango FLNG’s performance during the first six months on site. It also said it had agreed to make the
vessel available to the Italian major when the parties closed the transaction, noting that this was expected to happen in the second half of this month. However, it was not immediately clear when Tango FLNG might arrive at Marine XII. According to ship tracking data posted on MarineTraffic.com, the vessel is currently anchored near Nueva Palmira, Uruguay, not far from Buenos Aires.
Eni, for its part, indicated that it expected the vessel to arrive in ROC’s offshore zone next year. It said Tango FLNG would begin operating “in the second half of 2023, following the completion of mooring and connection works necessary to tie with the Marine XII network and infrastructure,” with LNG production starting sometime before the end of the same year.
Meanwhile, Exmar said in its statement that it was discussing arrangements with the Italian major that went beyond the sale of
the FLNG unit. It reported that the parties had agreed on a 10-year charter for a floating storage unit (FSU) vessel based on a converted LNG tanker, and added that it expected Eni
to sign separate contracts for operations and maintenance (O&M) services for the FLNG and FSU and for engineering services for the LNG project as a whole.
The Italian major will eventually expand LNG production at Marine XII beyond the capacity of the Tango FLNG vessel. In its statement, Eni said that the block would be able to turn out 3mn tpy of LNG, when fully operational.
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Week 32 11•August•2022