africa Angola commodities Economy Energy export Gas Natural Resources

Angola LNG steps up exports ahead of maintenance

Angola’s sole liquefied natural gas (LNG) project is stepping up exports of cargoes in the spot market ahead of maintenance, three industry sources said on Tuesday.

The plant has issued several tenders in the spot market for LNG cargoes to load in May and June, the sources said.

Angola’s Soyo plant, which has a capacity of 5.2 million tons of LNG per year, will be undergoing planned maintenance for a few weeks in July, two of the sources said.

“They are trying to sell as much as they can before they have to shut for maintenance,” one source said, adding that the plant is currently running at about 70 percent of capacity, though this could not be verified.

Angola LNG did not immediately respond to a Reuters email seeking comment.

Angola exported a record high of nearly 500,000 tonnes of LNG last month, up 10 percent from March, data from Thomson Reuters Eikon showed.

For loading in May, it has so far issued tenders to sell at least four spot cargoes, the sources said.

Angola’s exports to Asia have also been gradually increasing, although there was a dip last month. Its cargoes to Asia have mainly been heading to India, Japan, South Korea and China, the shipping data showed.

 Source: Reuters

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