First Yemen LNG Cargo Imminent, But New Supply Shuns US Market

摘要

With the start-up of Yemen LNG announced late last week by French oil company Total, the targeted destination for the new supply is no longer the depressed North American market. The French oil and gas giant said the initial cargo from the plant, at Balhaf, on the southern coast, is scheduled in the coming weeks. Once the second train is up and running, capacity will reach 6.7 million tons per year (900 million cubic feet per day). The project has long-term contracts to sell 2.55 million tons per year (340 MMcf/d) to GDF Suez and 2 million tons/year (270 MMcf/d) each to Korea Gas (Kogas) and Total itself- also the main upstream player.