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Angola LNG restart and sales tender delayed-trade sources

Fri, 20th May 2016 11:31

By Oleg Vukmanovic

MILAN, May 20 (Reuters) - Angola's liquefied natural gas(LNG) export plant is experiencing fresh delays in raisingproduction and shipping a cargo, according to trade sources.

The plant, shut since April 2014 following constructionerrors and difficulty in handling feed gas supplies, began theprocess of re-starting in January, a spokesman for theChevron-led venture said at the time.

A spokesman for Angola LNG declined to comment this week onthe timing of production operations.

Trade sources told Reuters that Angola LNG had told them toexpect the first cargo to load on May 15, which was to befollowed by a supply tender in June.

Both have now been postponed, they said.

The plant is expected to start-up production operations atthe end of May and a first cargo should be shipped in June, onesource close to the matter said.

The Sonangol Sambizanga LNG tanker, currently moored at one Angola LNG jetty, is only conducting tests, not loading supply,the source added.

After producing a limited number of cargoes, Angola LNG willthen be shut down again for additional testing, sources said.

Traders had initially expected the plant to produce andexport a cargo in April.

Chevron has a 36.4 percent share in the plant, while Angolanstate oil firm Sonangol has 22.8 percent. Other stakeholdersinclude Total, BP and ENI.

(Additional reporting by Sarah McFarlane in London, editing byWilliam Hardy)

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Trades   Bids     Offers   Prev.    Sellers  Buyers
(vol.) Trades
Ebob $727.50
Barges
MOC
Platts E5
(fob ARA)
<EUROBOB-
ARA>
Ebob $728
Barges
E10
Platts(fo
b ARA)
Ebob $735.50 Varo, Trafigu
Barges (4KT) Glencor ra
Argus e
E5(fob
AR)
Ebob $727 Shell, Varo,
Barges 11KT Exxon Totsa
E10 Argus
(fob AR)
Jan. swap $741.25 $725.25
fob ARA
Premium
Unleaded
(fob ARA)
<PU-10PP-
ARA>
Cargoes
(fob MED)
Cargoes
(cif NWE)
Naphtha Jan
(cif NWE) +$14
<NAF-C-NW
E>

Ebob crack (per barrel) $8.6 Prev. $9.7
Brent futures
Rbob
Rbob crack <RBc1-CLc1>
(Reporting by Ahmad Ghaddar; Editing by Mark Porter)

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