Angola LNG Terminal

This article is part of the Global Fossil Infrastructure Tracker, a project of Global Energy Monitor.

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Angola LNG Terminal is an LNG terminal in Zaire Province, Angola, at the mouth of the Congo River.

Location

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Project Details

• Owner: Angola LNG Ltd.
• Operator: Angola LNG Ltd.
• Parent: Chevron (36.4%), Sonangol (22.8%), Eni SPA (13.6%), Total (13.6%), BP (13.6%)
• Location: Soyo, Zaire Province, Angola
• Coordinates: -6.11957, 12.33596 (exact)
• Capacity: 5.2 mtpa, 0.75 bcfd
• Additional Proposed Capacity:
• Status: Operating
• Type: Export
• Start Year: 2013
• Cost: US$10-12 billion
• 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

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). 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%).

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.

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. In 2016, work was completed on the plant to restart production.

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.

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).

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.

In 2023, Angola LNG shipped its 400th cargo of LNG. Historically, India has been Angolas LNG's most important market, with about 60% of cargoes going there over the past few years. However, as of 2022, Europe has become an increasingly relevant market for Angolan LNG. Angolas LNG's 400 cargoes have been shipped to about 30 countries around the world.