• 4 minutes Will We Ever See 100$+ OIL?
  • 8 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 11 minutes Energy Outlook for Renewables. Pie in the sky or real?
  • 3 hours Shale Oil will it self destruct?
  • 21 hours Berkeley becomes first U.S. city to ban natural gas in new homes
  • 11 hours Today in Energy
  • 2 hours Iran Captures British Tanker sailing through Straits of Hormuz
  • 2 hours Oil Rises After Iran Says It Seized Foreign Tanker In Gulf
  • 6 hours Drone For Drone = War: What is next in the U.S. - Iran the Gulf Episode
  • 1 day Mnuchin Says No Change To U.S. Dollar Policy ‘As of Now’
  • 1 day Populist, But Good: Elizabeth Warren Takes Aim at Private-Equity Funds
  • 2 days Washington Post hit piece attacking oil, Christians and Trump
  • 1 day Why Natural Gas is Natural
  • 2 days Migration From Eastern Europe Raises German Population To Record High
  • 22 hours LA Solar Power/Storage Contract
  • 2 days Excellent Choice: Germany's Von der Leyen Secures Powerful EU Executive Top Job
The Energy Storage Industry Is Exploding

The Energy Storage Industry Is Exploding

The energy storage industry is…

Russia’s Oil Output Rebounds From Three-Year-Low

Russia’s Oil Output Rebounds From Three-Year-Low

Russia’s oil production in the…

BHP Billiton and Exxon Mobil to Build World’s Largest Floating LNG Plant

Rising costs in Australia’s LNG sector have led many analysts to suggest that continued expansion is limited, especially as growing production in Africa and North America offer alternative supplies, and areas for investment.

Australia currently has $190 billion worth of LNG projects under development, and is soon set to overtake Qatar as the world’s largest LNG exporter, but the continued expansion is under doubt.

Despite these growing concerns about the cost competitiveness of LNG projects in Australia Exxon Mobil (NYSE: XOM) and BHP Billiton (NYSE: BHP) have decided to work together to build the world’s largest floating LNG processing and export plant.

Related article: LNG Exports Threaten High Gas Prices in the US as Shale Production Slows

The plant will be situated off the northwestern coast of Australia, and be around half a kilometre long (around the length of five football fields). It will be the largest floating facility in the world.

The LNG plant will increase Australia’s total LNG production capacity by 30%, on its own producing 6-7 million tonnes of LNG a year, enough to meet the needs of Japan, the world’s largest importer of gas, for a month.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play