AFRICANGLOBE – Africa’s second largest oil producer, Angola has exported its first Liquefied Natural Gas (LNG), with the maiden shipment departing from Soyo northern province of Zaire, to Brazil.
According to Angola LNG company, via a joint venture between the state-owned oil and gas company Sonangol, Chevron, BP, ENI and Total, a fleet of seven LNG vessels will be responsible for long-term multiple shipments.
The project has an expected life span of at least 30 years.
Chevron is Angola LNG’s largest shareholder with a 36.4 percent stake. BP, ENI and Total hold 13.6 percent, while Sonangol has 22.8 percent
Speaking in the new development, the chairman of Angola LNG Marketing, Arturo Pereira, said exportation of LNG marks the start of a new unit, which has not occurred since 2010, to address the growing global demand for gas. Environmental organisations emphasize that the use of the gas resulting from the extraction of oil, prevents burning of the resource and thus eliminates pollution.
While noting that the production and exportation of LNG will develop Angola economically, Pereira said that “The world LNG market is expected to remain tight over the coming years, with very limited new LNG capacity coming on-stream.”
“Angola LNG is entering the market at an exciting time,” said Pereira.
The Soyo plant expects to produce 5.2 million tons of gas, propane, butane and condensate per year.
Although details of the 160,000 m3 shipment transaction were not revealed, the company said purchase agreements with numerous energy companies across the world had been reached.
By: Oluwabusayo Sotunde