Oil and gas projects this year have taken a hit. Investors and stakeholders are re-evaluating their portfolios as the industry comes to terms with low prices environment.
In this article, you will find the major projects being developed in Africa and around the world. This will help you understand requirements of the project owners.
Let us look at the biggest upstream, midstream and downstream projects that you should have your eyes on in 2020. Projects that include lng terminals among others.
Oil and Gas Projects: Alaska LNG Liquefaction Plant
Longstanding plans for Alaska’s LNG Mega-Project could take a step forward in 2020.
One of the biggest LNG mega-projects in the world, it includes a three-train liquefaction plant, gas treatment plant and 800 mile pipeline.
The facility is intended to export 3.5 billion cubic feet of gas per day from Alaska’s North Slope gas fields.
The liquefaction plant will have a capacity of 20mtpa and is expected to receive 2.8 bcf/d to liquefy.
This part of the project alone will require construction of three LNG trains, two 240,000 cubic meter storage tanks, terminal facilities and marine services and two loading berths capable of accommodating Q-Flex LNG carriers up to 217,000 cubic metres.
Construction will require 3,500 – 5,000 workers at peak times, and 100,000 – 150,000 tons of steel.
As one of the oil and gas projects, it has been in the pipeline for several years, with a number of invested parties operating as a consortium under the name Alaska LNG.
This includes ExxonMobil with a 35% share, ConocoPhillips Alaska (20%) and Alaska Gasline Development Corporation (25%). BP also held a 20% share but agreed in August 2019 to sell all their Alaskan interests to Hilcorp Alaska for $5.6 billion.
Subject to state and federal regulatory appeal, the transaction should be complete later this year.
The project is still waiting for federal approval following a series of environment impact studies and public comment periods.
However a final environmental impact statement is expected to be made in March 2020. If this allows the project to move forward then it is hoped that a final investment decision can also be made later this year.