Angola LNG Terminal
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Angola LNG Terminal is an LNG terminal in Zaire Province, Angola, at the mouth of the Congo River.
Location
Project Details
- Owner: Angola LNG Ltd.[1]
- Operator: Angola LNG Ltd.[1]
- Parent: Chevron (36.4%), Sonangol (22.8%), Eni SPA (13.6%), Total (13.6%), BP (13.6%)[1][2]
- Location: Soyo, Zaire Province, Angola
- Coordinates: -6.11957, 12.33596 (exact)
- Capacity: 5.2 mtpa, 0.75 bcfd[1]
- Additional Proposed Capacity:
- Status: Operating[3][4]
- Type: Export
- Start Year: 2013[3]
- Cost: US$10-12 billion[5][6]
- Financing: Originally equity-funded by the sponsors; refinancing loan package of US$1.79 billion in 2016 provided by Societe Generale, BNP Paribas, Sumitomo Mitsui Banking Corporation, ICBC, Bank of China, ING and Unicredit[7]
Note: mtpa = million tonnes per year; bcfd = billion cubic feet per day
Background
Angola LNG terminal consists of a single natural gas liquefaction train, with a capacity of 5.2 million metric tons per year (mtpa), or 0.75 billion cubic feet per day (bcfd)[1]. It is owned by Angola LNG Ltd., a consortium consisting of Chevron (36.4%), Angolan national oil company Sonangol (22.8%), Eni SPA (13.6%), Total (13.6%), and BP (13.6%).[8][9]
The project began in 1997. Construction began in 2008, with U.S. firm Bechtel acting as construction contractor. The project used proprietary gas liquefaction technology from ConocoPhillips. Construction was completed in 2012, and the first liquefied gas was produced in 2013. The project cost US$10 billion.[9][10][11][5]
Since the plant was brought on line, it has suffered from repeated production interruptions due to technical failures — including a two-year shutdown from 2014-16. These problems have increased the plant's cost significantly, by an amount that the sponsors have not disclosed.[12][13][14][15] In 2016, work was completed on the plant to restart production.[16]
In May 2021, with gas supply for the LNG terminal running out, BP, Chevron, Eni, Total and Angolan state firm Sonangol announced they would pool their existing Angolan portfolios into a joint venture and raise finance to "capture future opportunities in exploration, development and possibly portfolio growth, both in Angola and regionally." The companies have stakes in Angolan exploration blocks that have yet to be tapped, and are part of the New Gas Consortium (NGC) which is tasked with bringing additional finds to supply the Angola LNG Terminal. New gas will initially come from the Quiluma & Maboqueiro fields. The NGC also has rights to explore and develop in three other blocks in Angola.[17][18]
In July 2022, it was announced that the NGC had taken a final investment decision for the Quiluma and Maboqueiro gas project. The project includes two offshore wellhead platforms, an onshore gas processing plant and a connection to the Angola LNG terminal for the marketing of condensates and gas via LNG cargoes. Project execution activities were scheduled to start in 2022 with first gas planned in 2026 and an expected production of 330 mmscf/day at plateau (approximately 4 billion cubic meters per year).[19]
In August 2022, Eni and BP announced the formation of a joint venture Azule Energy, which combines their oil, gas, and LNG interests in Angola, giving the joint venture a 27.2% share in Angola LNG.[2][16]
In 2023, Angola LNG shipped its 400th cargo of LNG.[16] Historically, India has been Angolas LNG's most important market, with about 60% of cargoes going there over the past few years.[16] However, as of 2022, Europe has become an increasingly relevant market for Angolan LNG.[16] Angolas LNG's 400 cargoes have been shipped to about 30 countries around the world.[16]
Articles and resources
References
- ↑ 1.0 1.1 1.2 1.3 1.4 International Group of Liquefied Natural Gas Importers (May 24, 2022). "Annual Report 2022 Edition" (PDF). GIIGNL. Retrieved July 13, 2022.
{{cite web}}: CS1 maint: url-status (link) - ↑ 2.0 2.1 LNG Prime Staff (2022-08-02). "Eni, BP complete formation of Angola's Azule Energy". LNG Prime. Retrieved 2023-08-04.
- ↑ 3.0 3.1 Energy Capital and Power (June 23, 2023). "Angola LNG Hits Milestone with 400th Cargo Delivery". Energy Capital & Power. Retrieved June 13, 2024.
{{cite web}}: CS1 maint: url-status (link) - ↑ "Our History & Overview". www.angolalng.com. Retrieved 2024-06-13.
- ↑ 5.0 5.1 Bechtel to build Angola's first LNG plant, Oil & Gas Journal, Feb. 5, 2008
- ↑ "About". www.angolalng.com. Retrieved 2024-06-13.
- ↑ Angola LNG Refinancing, IJ Global Transaction Data, accessed Jul. 28, 2022
- ↑ The LNG Industry: Annual Report 2017, International Group of Liquefied Natural Gas Importers, accessed June 2017.
- ↑ 9.0 9.1 Angola LNG website, accessed June 2017.
- ↑ Angola LNG Terminal, Wikipedia, accessed April 2017
- ↑ Bechtel Proceeds with LNG Construction in Angola, Bechtel press release, 26 Feb. 2008.
- ↑ Angola LNG faces continued problems, The Economist Intelligence Unit, 30 May 2014
- ↑ Angola LNG Resumes Shipments After Interruption, AllAfrica, 7 June 2016.
- ↑ Angola LNG production halted, LNG World News, 31 Oct. 2016
- ↑ Angola LNG plant resumes production after December shutdown, Reuters, Jan. 4 2017
- ↑ 16.0 16.1 16.2 16.3 16.4 16.5 Staff, LNG Prime (2023-06-19). "Angola LNG hits new milestone". LNG Prime. Retrieved 2024-06-13.
- ↑ BP joins New Gas Consortium, BP News, May 19, 2021
- ↑ Eni and bp to explore combining Angolan interests into new joint venture, Eni press release, May 19, 2021
- ↑ Eni announces the completion of negotiations to start up New Gas Consortium in Angola, Eni press release, Jul. 27, 2022
