Courtesy of Reuters<\/p>\n
Tanzania’s first planned liquefied natural gas (LNG) export terminal could be expanded after the project partners discovered more gas than expected, shareholder Ophir Energy said.<\/p>\n
East Africa, tipped to become one of the next big gas-producing regions after huge discoveries in recent years, is in a race with the likes of Russia, Australia and Canada to feed an expected supply gap around the turn of the decade.<\/p>\n
Tanzania’s LNG export terminal, backed by Britain’s BG Group and Norway’s Statoil, is expected to start shipping gas to customers from around 2020, with a final investment decision expected in 2016. U.S. oil major Exxon Mobil is also a shareholder.<\/p>\n
Project partner Ophir Energy said on Thursday that a third train, the facility where gas is turned into liquid for transportation, could be added after its joint venture with BG Group upgraded offshore discoveries to 15.7 trillion cubic feet.<\/p>\n
This volume will underpin development of a minimum of two 5 million tonne per annum LNG trains “and provides encouragement for a potential third” the company said in its 2013 results statement on Thursday.<\/p>\n
The London-listed oil and gas explorer reported a net loss of $245.8 million for 2013 after impairments on some of its African exploration sites.<\/p>\n
Most of the charges relate to its Tanzania Block 7 after disappointing drilling results.<\/p>\n
The company’s sale of interests in Tanzanian blocks to Pavilion Energy for $1.288 billion is due to complete imminently, it said.<\/p>\n
“We have entered 2014 well financed to deliver the most extensive exploration programme in Ophir’s history, targeting wells in Tanzania, Gabon and Equatorial Guinea,” Chief Executive Nick Cooper said.<\/p>\n","protected":false},"excerpt":{"rendered":"