Africa LNG set to surge as floating projects cut time to market

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Tuesday 27, November 2018

(Bloomberg) --Africa is on the cusp of a liquefied natural gas boom. That’s in part due to accelerating global demand. It’s also down to a fast-track method of getting the fuel to market.

Kosmos Energy Ltd.’s project in Mauritania and Senegal, set to get the go-ahead next month, will use a floating vessel to convert gas from the offshore Tortue field into LNG. Such units, which can be built out of existing tankers, reduce the time from exploration to export, helping to lure investment and boost enthusiasm for gas development in a region traditionally focused on oil.

“Africa is the hot spot for floating LNG,’’ said Lucas Schmitt, a senior gas analyst at consultants Wood Mackenzie Ltd. “Confidence in floating facilities is firming up.’’

Kosmos and partner BP Plc are targeting first gas from Tortue by 2022, bringing it online four years after Africa’s first floating LNG facility -- a Cameroonian project that started output earlier this year. The last bureaucratic steps are on track and a final investment decision is just “weeks away,” Kosmos spokesman Thomas Golembeski said last Wednesday.

TAGS : Africa, oil, natural gas, Senegal

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