Latest news with #NationalGasCompany
Yahoo
6 days ago
- Business
- Yahoo
Shell makes FID on Aphrodite gas project in Trinidad and Tobago
Shell Trinidad and Tobago has announced the final investment decision (FID) to commence production at the Aphrodite gas field in the East Coast Marine Area (ECMA). The move is set to enhance Shell's integrated gas business by leveraging resources in the prolific gas-producing region. Shell said: "The ECMA is currently home to Shell's largest gas-producing fields in the country including Dolphin, Starfish, Bounty and Endeavour." The field's was discovered in 2022. Once operational, the Aphrodite project will serve as a back fill for the Atlantic LNG (ALNG) plant in Point Fortin. The increased production will help maximise the potential utilisation of Shell's existing assets. Shell Trinidad and Tobago country chair and senior vice-president Adam Lowmass said: "This investment is testament to our commitment to help secure the energy future of TT [Trinidad and Tobago] on several fronts.' The development of the Aphrodite field is contingent upon receiving all necessary regulatory approvals. With an anticipated start date in 2027, the field is expected to reach peak production of around 18,400 barrels of oil equivalent per day (boepd). Shell plans to implement a new single subsea tieback to the existing infrastructure within the Barracuda subsea network for the project. The company also outlined that gas from Aphrodite will supply the domestic market via the National Gas Company, while exports for the liquefied natural gas (LNG) market will be processed through the Shell-operated Beachfield gas processing facility onshore. Moreover, Shell aims to reinforce its leading position in the LNG sector, targeting a growth in sales of 4–5% per annum up to 2030. The company's LNG Outlook 2025 suggests that Aphrodite's potential is further bolstered by the expected 60% increase in LNG demand by 2040, driven by economic growth in Asia. Trinidad and Tobago Energy Minister Roodal Moonilal was quoted by Trinidad and Tobago Newsday as saying: 'We are pleased that Shell has progressed the Aphrodite project to FID. We are also pleased with the stated timeline of the project, which aims to realise first gas by 2027 at a rate of approximately 107 million cubic feet per day. "This new natural gas development project is important as it helps counter declining production from the maturing reservoirs in the Shell-operated ECMA. The ministry, in its role as regulator, will work with Shell to ensure the safe and timely completion of this project." "Shell makes FID on Aphrodite gas project in Trinidad and Tobago" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
17-04-2025
- Business
- Zawya
Congo Energy & Investment Forum Returns to Brazzaville in March 2026
The Republic of Congo will host the second edition of the Congo Energy&Investment Forum (CEIF) from March 10-12, 2026. As the country gears up for a significant increase in its oil output over the next three years and plans to strengthen its position in the natural gas sector, CEIF – under the theme Invest. Build. Empower: Transforming Congo's Energy Landscape – underscores Congo's growing role in the global energy landscape. The 2025-2026 period promises to be an exciting time for Congo's energy sector. Set to begin operations by December 2025, Phase 2 of the Congo LNG project will enable energy major Eni to increase gas production from 0.6 million tons per annum (mtpa) to 3 mtpa. Meanwhile, the Fouta refinery construction project is expected to start up by the end of the year and is set to produce 2.5 million tons of petroleum products per year – including diesel and gasoline – upon commissioning. These developments highlight the commitment of major operators to position Congo as a global oil and gas producer, with upcoming regulation and investments further supporting this goal. In the gas sector, the country is targeting 3 million tons of LNG per year by this year from Eni's Marine XII development – featuring the Congo LNG project. This target comes on the heels of Congo's February 2024 milestone where the country exported its first LNG cargo from the Tango FLNG facility. The Republic of Congo boasts over 10 trillion cubic feet of proven natural gas resources and is set to unveil its Gas Master Plan, launch a National Gas Company and release a new Gas Code this year. Driven by a series of landmark projects spearheaded by industry giants including TotalEnergies, Trident Energy and Perenco, Congo aims to nearly double oil output from the current 280,000 barrels per day (bpd) to 500,000 bpd by 2027. With aims to harness untapped reserves and maximize the potential of existing assets, this strategy will focus on expanding production in both new and mature fields. To support this goal, the country is set to launch a new international oil and gas licensing round this year. This initiative is expected to usher in a new wave of investment in sub-Saharan Africa's third-largest oil producing market. The licensing round is designed to attract international oil companies with technical expertise and financial capacity to develop deepwater resources, as well as local and independent companies to exploit marginal fields. At CEIF 2025, Congo unveiled plans to double its power generation capacity to 1,500 MW by 2030, with a strong focus on renewable energy projects. The country holds an estimated hydropower potential of 27,000 MW, though only 1% of this resource has been developed. As such, the government has identified several key projects, including water diversion and storage techniques, to maximize hydropower output. Through a series of dedicated panel sessions, technical workshops and presentations at CEIF 2026, the event will provide an in-depth look at Congo's investment landscape. The conference will highlight crucial developments across the country's energy sector as well as the broader strategic importance of Congo's energy ambitions. 'CEIF 2026 serves as a vital platform to showcase Congo's dynamic energy transformation. As the country scales up oil and gas production and prioritizes renewables, the conference fosters meaningful dialogue, attracts investment and strengthens partnerships essential to unlocking the full potential of Congo's evolving energy and investment landscape,' states Sandra Jeque, Events and Project Director at Energy Capital&Power. Supported by the Ministry of Hydrocarbons and national oil company Société nationale des pétroles du Congo, CEIF 2026 will bring together local, regional and international delegates to explore new partnership opportunities across the energy and investments sectors. This highly anticipated event builds on the success of the inaugural edition, which convened government officials, top investors, IOCs, NOCs, independents and industry experts who shared vital insights into Congo's oil, gas and energy landscape – paving the way for expanded collaboration and professional networking in 2026. For more information and to register your interest for CEIF 2026, please visit Distributed by APO Group on behalf of Energy Capital&Power.
Reuters
27-03-2025
- Business
- Reuters
Key gas project with Venezuela not slowing down despite US pressure, Trinidad says
March 27 (Reuters) - Companies planning a flagship offshore gas project between Venezuela and Trinidad and Tobago "have not slowed down" work, Trinidad Prime Minister Stuart Young said on Thursday, despite the United States increasing pressure on sanctioned Venezuela and uncertainty over the extension of a license for the project. Following talks with U.S. Secretary of State Marco Rubio, who is visiting South American and Caribbean countries this week, Young said the "landscape is changing," referring to the imposition of secondary tariffs on importers of Venezuelan oil and gas recently announced by Washington. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. A U.S. license authorizing the gas project, located in Venezuelan waters and whose first production could come as early as next year, was granted in 2023 to Shell (SHEL.L), opens new tab and Trinidad's National Gas Company. It is set to expire in October. The United States has not shown its commitment to extend it, even though companies see the extension as essential to secure first output once a final investment decision is made on the project, which could come this year. Trinidad's government plans to buy equipment from U.S. providers to bolster energy security, Young added, without providing details.
Zawya
27-03-2025
- Business
- Zawya
Congo Energy & Investment Forum (CEIF) 2025: Legal, E&P Experts Say Congo Ready for Increased Hydrocarbon Investment
With the upcoming establishment of a National Gas Company, the launch of a new Gas Code and development of a Gas Master Plan, the Republic of Congo is on a clear path to mobilizing capital to drive growth in its natural gas sector. Congo is home to an estimated 10 trillion cubic feet of natural gas, which is located in offshore fields such as Litchendjili, Néné, Minsala and Nkala, within the Marine XII license. As such, a strong lineup of legal and hydrocarbons experts participated in a panel session – Revitalizing the Hydrocarbons Sector by Unlocking Investment – at the inaugural Congo Energy&Investment Forum (CEIF) on March 26 in Brazzaville where they discussed how investors can drive growth in Congo's natural gas sector through favorable policies and emerging trends. 'The government [of Congo] is planning to establish a national gas company to encourage private investment and build up public-private partnerships,' stated Yves Ollivier, Managing Director of legal firm CLG Congo, adding, 'This will be the equivalent to the SNPC [ Société Nationale des Pétroles du Congo ] in terms of gas.' Congo's regulatory framework has evolved to support major developments in the natural gas sector, which include energy major Eni's Congo LNG project – Congo's first natural gas liquefaction initiative. As such, the upcoming Gas Code aims to establish a legal and regulatory framework to attract investment in gas exploration and production. 'We are in an environment where conditions are united so that we have the potential for returns on investment,' stated Yannick Mouamba, Country Director of Congo, Gabon and Sao Tome and Principe, SLB, adding,' Looking at the landscape of opportunities, this is the right place to run technology and show the value of what the country can offer.' Meanwhile, the Gas Master Plan – launching this year – will provide a strategic roadmap for investment, infrastructure development and resource management in the gas industry. This initiative is designed to create a robust framework for investors, laying the groundwork for sustainable growth and the achievement of the country's industrial goals. 'When investors want to invest their money, they are looking for sustainable returns,' stated Rene Awambeng, Founder and Managing Partner, Premier Invest, adding, 'Africa is richly endowed in hydrocarbons and for Congo to attract investments, you need to create the right enabling environment.' In addition to natural gas, Congo's National Oil Company SNPC has ambitious plans to increase the country's oil production to 500,000 barrels per day (bpd) by 2027. To attract new investment in exploration and production, Congo is leveraging new policy reforms and plans to launch a new licensing round this year, which will focus on onshore and offshore fields. 'In complex geological domains, such as onshore Congo, we look at the impact of decreasing cost to the customer. Most importantly, we also look at an increase in accuracy of data, which leads to a reduction in risk,' stated Jevon Hilder, Senior Business Development Manager, TGS. 'The ambition is there,' stated Anastasia Deulina, CFO, Afentra, adding, 'The production objective of 500,000 bpd is admirable, and we very much would love to be part of that story. There is a lot of support from the government.' The inaugural Congo Energy&Investment Forum, taking place March 24-26, 2025, in Brazzaville, under the highest patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo, brings together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. Distributed by APO Group on behalf of Energy Capital&Power.
