LNG Project Sanctions Set Records in 2019

Shailaja A. Lakshmi
Sunday, July 14, 2019

Rystad Energy expects LNG greenfield investment in 2019 to reach almost $103 billion, which will be the biggest investment year for the burgeoning industry to date.

A total of 33 million tpa of liquefaction capacity and $29 billion of Capex has been sanctioned so far this year, from Golden Pass LNG (US), Cheniere’s Sabine Pass T6 (US) and Anadarko’s Area 1 in Mozambique.

 
Over 70 million tpa of capacity and $70 billion of Capex is waiting to be sanctioned in the second half of 2019. Venture Global’s 11.2 million tpa Calcasieu Pass project in Louisiana, with Capex of $5.4 billion, has sold close to all of its capacity and has received all necessary approvals to receive a FID.

Sponsored by Total, Tellurian’s Driftwood (phase 1) and Novatek’s Arctic LNG 2 are also expected to take FID in 3Q 2019.

With ExxonMobil’s and Eni’s LNG greenfield experience in Africa, it is likely that the development of Mozambique Area 4 and Area 1 will be executed together.

The last project Rystad Energy favors for a 2019 approval is Qatargas’ T8 and T9, which has the lowest breakeven price in the market out of all proposed projects at $5.20 per MMBtu.

Categories: LNG Production Investment

Related Stories

Baker Hughes, Petronas Team Up for Asia-Pacific Energy Resilience

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

CNOOC Puts Into Production New Oil Field in South China Sea

Petrovietnam, Petronas Extend PSC for Offshore Block

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

Current News

KBR-SOCAR Joint Venture Secures Work for BP in Azerbaijan

Baker Hughes, Petronas Team Up for Asia-Pacific Energy Resilience

EnQuest Acquires Harbour Energy’s Vietnamese Assets

Woodside Finds South Korean Partners to Advance LNG Value Chain

Valeura Makes Progress with Multi-Well Drilling Campaign in Gulf of Thailand

Santos and QatarEnergy Agree Mid-Term LNG Supply

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com