• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 11 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 8 days Does Toyota Know Something That We Don’t?
  • 2 days America should go after China but it should be done in a wise way.
  • 7 days World could get rid of Putin and Russia but nobody is bold enough
  • 9 days China is using Chinese Names of Cities on their Border with Russia.
  • 11 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 11 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 11 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 10 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 1 min Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 1 day How Far Have We Really Gotten With Alternative Energy
  • 10 days Putin and Xi Bet on the Global South
  • 11 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
Rystad Energy

Rystad Energy

Rystad Energy is an independent energy consulting services and business intelligence provider offering global databases, strategic advisory and research products for energy companies and suppliers,…

More Info

Premium Content

This Continent Is Taking The Lead In Record Shattering Year For LNG

Africa is taking the lead in the next phase of global LNG mega-projects. 2019 will shatter previous records for the industry.

Rystad Energy forecasts that LNG greenfield investment in 2019 will reach nearly $103 billion, the biggest investment year for the burgeoning industry to date.

Mozambique’s Area 1 and Area 4 projects, the latter of which is expected to secure a final investment decision (FID) from operator ExxonMobil by the end of the year, are making Africa the dominant LNG investment destination this year, with nearly one-third of total greenfield investment.

“Last week’s final investment decision by Anadarko for its Area 1 LNG project marks the beginning of a new phase for not only Mozambique and the African continent, but for the industry as a whole,” says Pranav Joshi, analyst on Rystad Energy’s Upstream team.

The greenfield capex for the Area 1 project is estimated at $15.6 billion, putting the project in the same league as the major LNG developments in the US, Russia and Australia. If ExxonMobil’s Area 4 does indeed reach FID this year, that will represent another $14.7 billion in greenfield expenditure in Africa, bringing the yearly total to 28% of the global tally for approved investments in newly sanctioned LNG projects.  

“Area 1 is the largest LNG project that has been sanctioned in Africa to date and will also kick start the wave of sanctioning activity of other bigger LNG projects this year,” Joshi added.

(Click to enlarge)

The Area 1 project – expected to start in 2024 and produce 12.88 million tonnes per annum (tpa) – will transform Mozambique into a major LNG exporter. A swath of other projects will also contribute to the meteoric growth in domestic gas production.

(Click to enlarge)

Among the projects anticipated to reach FID in 2019, Area 1 is the third largest in terms of greenfield investment. The Arctic LNG project has the largest greenfield capital investment at $25.75 billion, followed by Qatargas LNG with $17.5 billion.

ADVERTISEMENT

(Click to enlarge)

By Rystad Energy

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News