Uganda expects to start pumping oil in 2022, later than a previous target for 2021, because of lack of infrastructure and disagreements over taxes and plans with operators.
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Financial scandal and security issues are the latest challenges to be overcome in Mozambique’s long-delayed emergence into the world of LNG. However, a raft of off-take agreements for two major projects in the country’s north should make 2019 a pivotal year as investors move towards final investment decisions. These projects would represent Mozambique’s biggest foreign direct investments to date.
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Anadarko Petroleum Corporation (NYSE: APC) today announced Mozambique LNG1 Company Pte. Ltd., the jointly owned sales entity of the Mozambique Area 1 co-venturers, has signed a Sale and Purchase Agreement (SPA) with CNOOC Gas and Power Singapore Trading & Marketing Pte. Ltd. (CNOOC).
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Tullow Oil and its partners in Uganda, Total and CNOOC Ltd., continue to work with the government of Uganda to finalize the farm-down. According to Tullow, the farm down is expected to be complete in H1 2019.
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Uncontracted demand by the world’s seven largest liquefied natural gas (LNG) buyers could increase four-fold to 80 million tonnes per annum (mtpa) by 2030, according to Wood Mackenzie.
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(Bloomberg) — Uganda said it expects to miss its 2020 target for the East African nation’s first crude production after oil companies delayed making a final decision on investment.
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Uganda’s national oil company and Chinese firm CNOOC, will be exploring jointly a new oil and gas block in the Albertine Basin. A memorandum of understanding was signed for the deal while President Yoweri Museveni was attending an Africa-China forum in Beijing, a statement issued by his office said.
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Uganda said on Thursday its national oil firm and Chinese offshore oil and gas company CNOOC Ltd had signed an agreement to jointly conduct exploration in a new block in the East African country.
Read MoreMozambique has one of the world’s largest recently discovered natural gas reserves and is starting to receive the first investments at a time when the difficult economic situation in the raw materials market is leading to postponement of some projects, in addition to some political instability in the country. China dream is to turn Mozambique into a centre for natural gas exploration, according to Portuguese researcher Gustavo Placido dos Santos, who notes the East African…
Read MoreLNG imports by state-owned companies coming into China from Nigeria LNG have risen in January 2015. As Platts reveals, six cargoes were delivered to China’s LNG terminals so far, compared to two cargoes from NLNG during January and February last year. China imported only seven cargoes from the Nigerian LNG facility during whole 2014.
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