Daily Times: Africa plans three floating LNG export projects
Africa has planned three floating LNG export projects that will see Cameroon joining the small number of LNG exporting nations.
Cameroon is the latest African country to signal a planned LNG project as it adds to 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. Of the two planned LNG projects in Equatorial Guinea, one is a Floating LNG. In Mozambique, the same pattern holds true.
But the 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.
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