Qatar Petroleum and ExxonMobil have launched a project to build what will be the worlds largest liquefied natural gas (LNG) refinery. Under a 25 yr agreement, starting in 2008 the U.S. will import 25-30% of its LNG needs from Qatar. In the first part of this phase of the project, to be completed in the second half of 2008, train 6 of the RasGas-3 plant will produce 7.8 million tons a year (MTA) of LNG. The second part, train 7, with the same capacity, will start up approximately a year later. The current phase is expected to cost about $14 billion when all the auxillary equipment is included.
Train 3 with a capacity of 4.7 MTA is in operation. Train 4 and 5, each with the same capacity as train 3 are under construction. Train 4 is scheduled to start up in the 4th quarter of 2005 and train 5 late in 2007. Trains 6 and 7 with a capacity of 15.8 MTA, together with trains 1-5, with a combined capacity of 16 MTA, represent a big step forward for the State of Qatar to become the world's largest supplier of LNG with expected total annual production of 77 million tons by 2010.
Twenty-eight wells are planned to be drilled to supply the two trains with natural gas, sourced from Qatar's giant North Field. The field has proven reserves of more than 900 trillion cubic feet (25 trillion cubic meters) of natural gas, the third largest in the world. Qatar Petroleum has a 70-percent stake in the project and ExxonMobil Ras Laffan III Limited the remaining 30 percent.
To deliver the LNG to its targeted markets, RasGas-3 plans to lease 12 LNG tankers to support Train 6. It has contracted with Teekay Shipping Corporation to lease, for 25 years commencing in 2008, four 217,000 cubic meter LNG carriers. Teekay in turn has contracted with Samsung Heavy Industries to construct the carriers for a total price of approximately $1 billion. Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering and will also supply tankers. It is expected that an additional six LNG tankers will be required to support Train 7.
Resources:
"ExxonMobil and Qatar Petroleum Progress LNG Project", Qatar Petroleum press release, Nov. 15, 2005
Qatar Patroleum--RasGas Companies, website
"Technip, Chiyoda JV Sign Multi-billion US$ LNG Contract in Qatar", Contractoors Unlimited, Sept., 9,2005
"Teekay Awarded Four Long-Term LNG Contracts", Teekay Shipping Corporation press release, August 2, 2005
More blogs about natural gas, LNG, fossil fuels, energy
77 million tons of LNG!
How does that translate into cubic feet?
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