Angola’s recently refurbished liquefied natural gas (LNG) export plant has launched a tender to sell its first cargo since it was unexpectedly shut down in April 2014.

According to tender document details relayed by traders, the cargo was loaded between June 3 and 5 on board the Sonangol Sambizanga tanker and bid submissions are due on the morning of June 13, trade sources said.

[Also Read] Angola Exploration License Extensions Could Spur Oil Sector Recovery

Angola LNG confirmed the first cargo since the shutdown had been loaded and was being sold via an international tender but did not give further details of the process.

The tender is valid until June 15, one source said, while a second trader said that up to six more cargoes could be loaded before the facility goes offline for a final phase of testing.

[Also Read] Angola Set To Attract More FDI Into Oil And Gas Sector

In the current tender, the delivery date of the first cargo varies according to the location of terminals dotted around the world.

Resuming supply from Angola may bring a measure of relief to buyers as delays to new projects and supply outages have helped to nudge spot LNG prices higher in the past few weeks.

[Also Read] Angola Prepares Legislation on Local Content in the Oil Sector

The combined impact of these delays means there is less supply in the market than traders previously assumed, prompting some to cover short positions they otherwise intended to keep open.


Be the first to know when we publish an update

Get More Oil and Gas Industry News on Orient Energy Review.


Be the first to know when we publish an update

Leave a Reply