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2016-10-05 18:30:00

LNG FOR AFRICA

LNG FOR AFRICA

According to REUTERS, Africa could become a significant global market for imported liquefied natural gas (LNG) by 2025, with Egypt the main driver, as more countries eye gas-to-power projects, a senior official at Total said on Tuesday.

With hundreds of millions of people living without electricity in the world's poorest continent, African countries are increasingly turning to gas to take advantage of lower global LNG prices amid a supply glut.

"It could be collectively a 20 to 30 million tonnes per year market by 2025," Tom Earl, vice president of gas and power development at the French oil major, told Reuters on the sidelines of a gas conference in Cape Town.

He said Egypt could be importing between 15 million-20 million tonnes annually within a decade, although actual volumes would depend on the development of its huge Zohr gas field, which had an estimated 30 trillion cubic feet of gas.

West Africa was seen importing 5 million tonnes a year, Southern Africa 4 million and Morocco 2 million tonnes by 2025, Earl said.

Egypt aims to import between 110 and 120 cargos of liquefied natural gas in 2017, the state-owned Egyptian Natural Gas Holding company (EGAS) said in June.

"Africa really is going to take a central role, the projects may be typically of smaller scale, but nevertheless they will collectively be very important," said Earl.

He said Total was focusing on gas-to-power projects around the world and wanted to develop downstream markets to increase the uptake of gas, which is seen as a cleaner alternative to harmful coal-fired plants.

"Total is willing to invest further downstream and that's important for us because it is developing future demand, future markets," he said.

He said Total was considering all aspects of South Africa's plans to build two gas-to-power projects with a combined 3,126 megawatt capacity to diversify electricity production away from more environmentally damaging coal plants.

The projects, estimated to cost around 50 billion rand ($3.7 bln), will initially require about 1.6 million tonnes of imported gas.

Preferred bidders are expected to be announced early next year. ($1 = 13.5782 rand).

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Earlier:

LNG: 

MALAYSIAN - CANADIAN LNG: $27 BLN 

LNG TO INDIA: UP 35% 

СОТРУДНИЧЕСТВО РОССИИ И ЯПОНИИ 

СОТРУДНИЧЕСТВО РОССИИ И БАХРЕЙНА 

CHEVRON'S LNG FOR CHINA 

MALAYSIAN - INDONESIAN LNG 

ALASKA LNG: LEAST COMPETITIVE 

THE LARGEST LNG IMPORTERS 

AUSTRALIAN LOOSES 

ASIAN LNG IMPORTS UP 

THAILAND'S LNG WILL UP 

AUSTRALIAN LNG UP TO 2%

 

AFRICA: 

NIGERIAN OIL FIRE 

LIBYA RISES PRODUCTION 

NIGERIAN OIL UP 

LIBYA HAS STARTED 

CHINESE - NIGERIAN AGREEMENTS: $80 BLN 

NIGERIA WANT $50 BLN 

ALGERIAN OIL & GAS UP 

TANZANIA & UGANDA PIPELINE: $4 BLN 

SOUTH AFRICA UPGRADE: $2.7 BLN 

CHINA - MOZAMBIQUE COOPERATION

 

Tags: GAS, LNG, AFRICA

Chronicle:

LNG FOR AFRICA
2018, July, 12, 10:20:00

U.S. - EXXON - RUSSIA SANCTIONS

BLOOMBERG - Treasury Secretary Steven Mnuchin told a Texas judge that Exxon Mobil Corp. doesn’t have a right to see privileged documents related to a $2 million fine assessed against the energy company for violating sanctions related to Russia’s 2014 invasion of Ukraine.

LNG FOR AFRICA
2018, July, 12, 10:15:00

NORWAY'S OIL PRODUCTION: 1.747 MBD

NPD - Preliminary production figures for June 2018 show an average daily production of 1 747 000 barrels of oil, NGL and condensate, which is an increase of 88 000 barrels per day compared to May.

LNG FOR AFRICA
2018, July, 12, 10:10:00

NOVATEK'S PRODUCTION: +2.4%

NOVATEK - In the first half 2018, NOVATEK’s hydrocarbons production totaled 264.3 million barrels of oil equivalent (boe), including 32.93 billion cubic meters (bcm) of natural gas and 5,864 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons production by 6.3 million boe, or by 2.4%, as compared to the first half 2017.

LNG FOR AFRICA
2018, July, 11, 09:35:00

OIL PRICE: NEAR $78 YET

REUTERS - Brent crude futures LCOc1 were down 75 cents, or 1 percent, at $78.11 a barrel by 0308 GMT, having fallen as low as $77.60. U.S. crude CLc1 was down 55 cents, or 0.7 percent, at $73.56.

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