First shipment of liquefied gas from Iraq and …. ENI starts loading gas in Mozambique
Iraq entered the liquefied natural gas market , with the first ever shipment occurring this week.
In a statement, the Iraqi Oil Ministry said the first shipment of semi-refrigerated LNG was a milestone and quoted Basra Gas Company CEO Malcolm Mayes as saying it was a "historic moment".
The international LNG market has warmed in recent months as Europe, a major gas importer, seeks to reduce and ultimately eliminate its dependence on Russian pipeline gas.
LNG has emerged as the cheaper substitute, and the US has been the main supplier so far. Europe has become the main destination for US liquefied natural gas, but the recent Freeport LNG explosion has compromised the safety of future volumes.
Seeking diversification, the European Union recently signed an agreement with Israel for LNG that will be produced in Israel and liquefied in Egypt before being shipped to Europe.
"Today we can load and export compressed and semi-cooled liquefied gas," Mayes said this week, as reported by Shafaq. He added that “this step allows us to triple our exports globally via tankers. We will also have access to many global markets that use only semi-cooled liquefied gas ”.
Meanwhile, another good news for LNG importers , Italy's Eni has introduced the first feed gas to its LNG plant in Mozambique, the Coral South floating LNG plant. The first liquefied gas from the plant is expected for the second half of the year.
Qatar, the world's largest exporter until recently, is also working to increase its liquefaction capacity. The country is reportedly in advanced talks with two Chinese companies for investments in the expansion of its North Field and for long-term off-take deals for the gas that will be produced after the expansion.
Qatar Energy has also signed a partnership agreement with Eni for the expansion project of the northern field, which should have a price of 30 billion dollars but which will consolidate Qatar as the largest LNG exporter in the world.
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Article First shipment of liquefied gas from Iraq and…. ENI starts loading gas in Mozambique comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/primo-carico-di-gas-liquefatto-dalliraq-e-eni-inizia-a-caricare-il-gas-in-mozambico/ on Wed, 22 Jun 2022 13:38:45 +0000.