Insight
Feedgas crunch to hit near-term LNG output from Malaysia
Report summary
PETRONAS' Bintulu LNG facility looks set to produce 26 mmtpa in 2017 and 2018 ~ 13% below nameplate capacity. This is the first time since the plant began producing LNG in 1983 that the facility will have operated significantly under capacity.
Table of contents
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Executive summary
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Near-term: LNG output to be curtailed
- Pipeline delay, budget cuts and deferred maintenance cause near-term shortage
- To drill or not to drill
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Long-term: a new wave of development needed
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Future supply will be more expensive
- Potential Sarawak supply from undeveloped fields by breakeven
- and require investment in gas processing infrastructure
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Future supply will be more expensive
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Winners and losers
- Some production lost in the near-term
- but shortage could spur M&A offshore Sarawak
- And exploration could be revitalised dependent on fiscal incentives
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Near-term: LNG output to be curtailed
Tables and charts
This report includes 4 images and tables including:
- Sarawak balance: LNG feedgas and domestic demand
- PETRONAS LNG offtake agreements (SPAs)
- Feedgas crunch to hit near-term LNG output from Malaysia: Image 3
- Feedgas crunch to hit near-term LNG output from Malaysia: Image 4
What's included
This report contains:
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