Commodity Market Report

Global FLNG overview 2016: Africa, the next FLNG frontier

20 December 2016

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20 December 2016

Global FLNG overview 2016: Africa, the next FLNG frontier

Report summary

This is a challenging time for new project developers, but FLNG is proving the exception to the rule. While some large scale FLNG projects have been cancelled or delayed, other projects are building momentum particularly in Africa. We expect FID at new projects in Equatorial Guinea and Mozambique, and other projects to mature in Congo and Mauritania/Senegal. We also expect first LNG from the world's first FLNG vessel in Malaysia next year. All this will build momentum behind the technology further and surface new FLNG ventures. Several companies will reap rewards from this game-changing technology, while others may struggle to deliver.

Executive summary
Key Issues
- Near-shore developments
- Open-Sea developments
- Vessel life
- FLNG vs Conventional LNG costs
- Cost Risk
- Liquefaction costs
- Capital costs
  - Cost deflation
- Operating costs
- Breakevens
- Cancelled projects
Risks and uncertainties
- Commercial challenges
  - Commercial structure
  - Finance
  - Insurance
  - Government support
- Technical challenges
  - Liquefaction process
  - LNG storage and containment type
  - Liquids Processing and Storage
  - LNG Offloading & Transfer
  - Utilisation
  - Sizing
  - Safety
FLNG advantages and risks
- Advantages
- Challenges and risks
Supply
- FLNG Outlook
- FLNG will remain a niche play
Key companies
- Upstream companies
- Mid-stream operators
  - Golar
  - Exmar
  - Hoegh
  - Excelerate
- EPC contractors and shipbuilders
  - EPC/Technology Companies
  - Shipbuilders
Infrastructure
- Asia Pacific Developments
  - Australia
    - Scarborough FLNG
    - Greater Sunrise FLNG
    - Cash-Maple
  - Malaysia
    - PETRONAS FLNG 1 (Kanowit)
    - PETRONAS FLNG 2 (Rotan)
  - Indonesia
    - Abadi FLNG - concept changed
  - Papua New Guinea
    - Pandora FLNG
    - PNG FLNG / Gulf
    - Other FLNG – Asia/Pacific
    - Africa and Middle East
      - Cameroon
      - Equatorial Guinea
      - Mozambique
      - Mauritania/Senegal
      - Congo Brazzaville
        
        Nene Marine FLNG
      - Other FLNG - Africa and Middle East
    - Americas FLNG projects
      - US Gulf Coast
        
        Delfin FLNG
        
        US FLNG
        
        CE (Cambridge Energy) FLNG
        
        Lavaca Bay - cancelled
      - Canada
        
        Douglas Channel LNG – cancelled
        
        Kitsault FLNG
        
        Triton LNG
        
        Stewart Energy FLNG
        
        Other FLNG
      - Colombia
        
        Caribbean FLNG – Cancelled
      - Brazil
        
        Santos Pre-Salt FLNG
      - Other North and South American FLNG projects