The first exports of Angolan natural gas are expected to take place at the end of June, Angola’s oil minister, José Maria Botelho de Vasconcelos said Tuesday in Luanda.
At the end of a parliamentary session in which the Angolan government received unanimous authorisation to legislate on the Adjustment of the Tax Regime Applicable to Angola LNG Project, the minister said that in May loading tests would be carried out.
Initial plans to export Angolan natural gas pointed to the US market, but recent discoveries of natural gas in the United States have meant that Angola has had to find new export markets, and has opted for the Asian market, given the competitive price advantage there.
In the United States each BTU (British Thermal Unit) would be sold at US$2, whilst in the European market prices have risen to between US$6 and US$8, but in the Asian markets, specifically in Japan, each BTU can be sold for over US$13. (macauhub)