ExxonMobil Completes LNG Acquisition in Mozambique Area 4
ExxonMobil announced the completion of a transaction by ExxonMobil Development Africa BV to acquire a 25% indirect interest in Mozambique’s gas-rich Area 4 block from Eni and assume responsibility for midstream operations.
ExxonMobil will lead the construction and operation of all future natural gas liquefaction and related facilities, while Eni will continue to lead the Coral floating LNG project and all upstream operations. ExxonMobil said the operating model will enable the use of best practices and skills with each company focusing on distinct and clearly defined scopes while preserving the benefits of an integrated project.
The deepwater Area 4 block contains an estimated 85 Tcf of natural gas in place.
ExxonMobil now owns a 35.7% interest in Eni East Africa SpA. (to be renamed Mozambique Rovuma Venture SpA.), which holds a 70% interest in Area 4, and is co-owned with Eni (35.7%) and CNPC (28.6%). The remaining interests in Area 4 are held by Empresa Nacional de Hidrocarbonetos EP (10%), Kogas (10%) and Galp Energia (10%).
Total Acquires Engie’s LNG Assets, Becomes No. 2 in Global Market
The $1.5-billion deal delivers a world market share of 10%, including a 16.6% stake in the US Cameron LNG project.
Alaska LNG Project Seeks Investors
The Alaska Gasline Development Corp., a state-owned corporation, is preparing an equity offering for this summer for its $43-billion LNG project. BP agreed to sell natural gas from Prudhoe Bay for export to Asia-Pacific.
Investigation Begins of Leak at Hammerfest LNG
The Petroleum Safety Authority Norway launched an investigation into an LNG leak at the Hammerfest LNG plant on 17 June.
Don't miss out on the latest technology delivered to your email every two weeks. Sign up for the OGF newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.
03 July 2018
20 June 2018
25 June 2018
21 June 2018