Mozambique Oil & Gas: Moz LNG reassesses yards and shipowners
New liquefaction project Mozambique LNG is moving ahead with a planned re-evaluation of the initial shipyards and owners selected to offer in on up to 16 LNG carriers.
Industry sources said the project partners have been speaking to five shipbuilders that were pre-qualified for the business in 2016.
They name these as South Korea’s big three yards — Hyundai Heavy Industries, DSME and Samsung Heavy Industries — along with Mitsubishi Heavy Industries and Kawasaki Heavy Industries of Japan.
Those watching the process closely said that under the original process, what were then “all 23” existing LNG shipowners were pre-qualified and ranked.
They suggest that around nine are likely to be under reassessment as part of this review.
Anadarko-led Mozambique LNG is conducting fresh due diligence on the shipbuilders and shipowners it had earlier selected to offer in on the newbuildings it requires for its two-train LNG plant of nearly 12.88 million tonnes per annum in export capacity.
“A lot can happen in two years,” one observer commented.
This process is expected to be concluded at the start of October.
Anadarko told TradeWinds last month that it plans to issue an invitation to tender to shortlisted shipowners when the project takes its planned final investment decision (FID) in the first half of 2019. When the final selection is made next year, shipowners will be asked to choose from a list of pre-qualified yards to work with on newbuildings.
To date, Mozambique LNG has announced sales agreements on its LNG amounting to 6.7 mtpa but says it has achieved sales volumes of 8.5 mtpa, which will allow the partners to take the FID.
Charterparties are timetabled to be signed 12 months later, along with newbuilding contracts, with the ships due for delivery from late 2023 into the following year.
Mozambique LNG, which has capacity to be expanded to a 50-mtpa project, is also open to considering existing LNG carriers under the process.
Aside from Anadarko, Mozambique energy company ENH holds a 15% stake, Mitsui & Co 20% and PTTEP of Thailand 8.5%, with Beas Rovuma Energy Mozambique, BPRL Ventures Mozambique and India’s ONGC Videsh all on 10%. source: http://www.tradewindsnews.com
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