Africa to Roll out Three Floating LNG Projects
Africa has planned three floating LNG export projects - Cameroon, Equatorial Guinea and Mozambique.
According to local media reports, the African nations are launching LNG projects - three such planned projects in Nigeria; two planned LNG projects in Equatorial Guinea; two in Mozambique and one in Tanzania, none of which is sanctioned. Cameroon is the latest African country to signal a planned LNG project.
Of the planned LNG projects one is a Floating LNG each in Equatorial Guinea, Mozambique and Cameroon.
The Daily News says that Cameroonian Floating LNG project, announced on Christmas Day 2014 as a three way Heads of Agreement (the HOA) between Golar LNG Ltd (Golar) Societe Nationale de Hydrocarbures (SNH) and Perenco Cameroon, is small, nimble, and designed to get to market quicker than 2018, the earliest at which any of the other listed projects is likely to come online.
With a string of LNG projects coming on stream in Australia and piped gas agreements signed between Russia and China, analysts have warned of threats of oversupply dimming the chances of profitability.
Meanwhile, Mozambique must complete contract negotiations for the production of liquefied natural gas (LNG) and also fast track key structural reforms to maintain strong economic growth, the International Monetary Fund said last week.
