AGL 37.54 Increased By ▲ 0.29 (0.78%)
AIRLINK 122.69 Decreased By ▼ -1.33 (-1.07%)
BOP 5.80 Increased By ▲ 0.18 (3.2%)
CNERGY 3.73 Increased By ▲ 0.01 (0.27%)
DCL 8.54 Increased By ▲ 0.29 (3.52%)
DFML 39.90 Decreased By ▼ -0.37 (-0.92%)
DGKC 85.99 Increased By ▲ 0.25 (0.29%)
FCCL 32.90 Increased By ▲ 0.30 (0.92%)
FFBL 66.30 Decreased By ▼ -0.20 (-0.3%)
FFL 9.99 Decreased By ▼ -0.17 (-1.67%)
HUBC 104.88 Increased By ▲ 1.78 (1.73%)
HUMNL 13.41 Increased By ▲ 0.01 (0.07%)
KEL 4.30 Increased By ▲ 0.05 (1.18%)
KOSM 7.18 No Change ▼ 0.00 (0%)
MLCF 37.95 Decreased By ▼ -0.35 (-0.91%)
NBP 62.50 Decreased By ▼ -2.51 (-3.86%)
OGDC 174.50 Increased By ▲ 0.70 (0.4%)
PAEL 25.00 Increased By ▲ 0.10 (0.4%)
PIBTL 5.77 Decreased By ▼ -0.03 (-0.52%)
PPL 142.11 Decreased By ▼ -0.59 (-0.41%)
PRL 22.93 Decreased By ▼ -0.05 (-0.22%)
PTC 15.04 Decreased By ▼ -0.07 (-0.46%)
SEARL 65.37 Increased By ▲ 0.02 (0.03%)
TELE 7.04 Increased By ▲ 0.04 (0.57%)
TOMCL 36.46 Decreased By ▼ -0.45 (-1.22%)
TPLP 7.32 Decreased By ▼ -0.02 (-0.27%)
TREET 14.22 Decreased By ▼ -0.06 (-0.42%)
TRG 50.90 Increased By ▲ 1.20 (2.41%)
UNITY 26.50 Increased By ▲ 0.35 (1.34%)
WTL 1.25 Increased By ▲ 0.01 (0.81%)
BR100 9,600 Decreased By -1 (-0.01%)
BR30 28,656 Increased By 82.5 (0.29%)
KSE100 90,326 Increased By 39.2 (0.04%)
KSE30 28,239 Decreased By -104.6 (-0.37%)

Angola's much-delayed liquefied natural gas (LNG) project has started exports, with the first cargo shipped to Brazil on Sunday, the Angola LNG venture said in a statement. The $10-billion plant was initially due to start exports 18 months ago, but has been beset by delays caused by technical problems, including a fire in April.
"The first cargo was sold to Angola's state oil and gas company Sonangol and is currently being shipped to Brazil by the Sonangol Sambizanga, one of seven LNG vessels that are under long-term charter to the project," Angola LNG said.
"This marks the first new LNG supply to come on-stream since 2010, and provides a new source to meet the increasing global demand for LNG," it said.
An Angola LNG spokesman confirmed reports that the plant would be shut down for tests following the first cargo.
"As is standard with similar projects, the engineering, procurement, construction, and installation contractor plans to shut down the plant after the first cargo has been loaded to run a series of tests and checks and ensure the ongoing safe and reliable production of LNG," he said.
"Following these tests we plan to restart the plant and ramp up production," he added, without providing details on the timing of the tests and restart.
Angola LNG was initially due to export mainly to US buyers, but has been forced to turn to other markets in the wake of a rapid increase in US shale gas production spurred by new drilling and extraction technologies.

Copyright Reuters, 2013

Comments

Comments are closed.