Cabinda Gulf Oil Company, a subsidiary of energy corporation Chevron, has commenced liquefied natural gas (LNG) production at the Angola LNG project.
The project, which is worth approximately $10bn, will collect and carry natural gas from offshore Angola to an onshore liquefaction plant on the coast near the Congo River.
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The project can produce about 5.2 million metric tonnes of LNG per year and 63,000 barrels of natural gas liquids per day for export. The plant also has the capacity to create about 125 million cubic feet of natural gas per day for domestic consumption.
According to Chevron vice-chairman George Kirkland, the Angola LNG project is an important milestone in support of the company’s strategic plan to increase production.
"This project will commercialise natural gas resources in Western Africa to meet growing demand in the region and internationally," he said.
Chevron Africa and Latin America Exploration and Production company president Ali Moshiri added that the project is expected to enhance the development of Angola’s natural gas industry.
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By GlobalDataIt will also use affiliated natural gas produced from existing crude oil operations that are operated by Chevron and other partners.
Cabinda Gulf Oil has 36.4% stake in the project, while Sonangol holds 22.8%, and subsidiaries of Total, BP and ENI each hold 13.6% shares.
The Angola LNG project is an integrated gas utilisation scheme comprising both offshore and onshore operations.
The project is expected to generate $180m through the sale of carbon credits, while each tonne of carbon can be traded at $14, which translates into $182m in annual income.
Image: Chevron’s subsidiary Cabinda Gulf Oil Company has begun liquefied natural gas (LNG) production at the Angola LNG project. Photo: courtesy of Colin Bell.
