Asia receives third shipment of liquid natural gas from Angola LNG

26 August 2013

Angolan liquid natural gas company Angola LNG has sent its third shipment of LNG, which was loaded on the Lobito tanker ship headed for Southeast Asia, according to the Wall Street Journal.

Citing traders from Singapore the newspaper said that the final destination of the ship was unknown and noted that the first shipment was sent to Brazil and the second to China.

The sources cited by the newspaper said that the price of LNG in Asia had remained stable at around US$15 BTUs (British thermal units), units equivalent to 1,055 joules each.

The Angola LNG project is a consortium of Sonangol, which owns 22.8 percent of the project and the Angolan subsidiaries of Chevron (36.4 percent), Total (13.6 percent), BP (13.6 percent) and ENI (13.6 percent) and processes natural gas for later sale.

It is also one of the biggest investments ever made in the Angolan oil and gas industry – US$10 billion – and has seven tanker ships and three loading docks. The project is intended to prevent natural gas burn-off at Angola’s oil fields and provide clean and reliable energy to customers and capitalise on the investment made in the project. (macauhub)