Angola LNG hits new milestone

Angola LNG has shipped its 400th cargo of liquefied natural gas since the launch of the 5.2 mtpa Soyo plant in 2013.

According to a statement issued last week, Angola LNG’s 160,000-cbm LNG carrier, Lobito, berthed at the Soyo terminal to load the milestone LNG cargo on June 13.

The 2011-built LNG carrier, owned by a joint venture led by Seapeak, left the LNG plant on June 14 and was on Monday located offshore Namibia, its AIS data provided by VesselsValue shows.

The project’s 400th LNG cargo represents a “significant” milestone for Angola LNG and coincides with the 10th anniversary since the first cargo of LNG was shipped and delivered safely to Brazil in 2013, the JV said.

According to Angola LNG’s website, the plant shipped more than 600 cargoes of LNG and liquids up to date.

India and Europe

Historically, India has been Angola LNG’s most important market and, over the last few years, about 60 percent of the LNG cargoes produced at the Soyo plant have gone to this market, Angola LNG said.

More recently, and for much of 2022, Europe has been an increasingly important market, it said.

These 400 LNG cargoes have landed in about 30 countries worldwide.

Angola LNG said it supplies buyers through spot sales and a portfolio of mid-term sales comprised of a “variety of different counterparties”.

Earlier this year, Angola LNG canceled tenders due to production issues at the plant.

In 2016, Chevron and its partners Sonagas, TotalEnergies, BP, and Eni completed work on the plant’s modifications and reliability enhancements, restarting production after a long shutdown due to a major rupture on a flare line.

Moreover, BP and Eni formed Azule Energy last year, combining their portfolios in Angola and the JV now has a 27.2 percent share in Angola LNG.

Chevron has a 36.4 percent stake, while Sonagas and TotalEnergies own 22.8 percent and 13.5 percent in the JV, respectively.

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