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Thursday, May 13, 2021

40% of resources to be sanctioned for 2019 gets greenlight

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While large projects such as the Liza Phase 2 development in Guyana are expected to get the greenlight by the of the year, so far sanctioning volumes year-to-date have reached 40% of resources planned to be sanctioned, driven by the $18 billion worth of awards surrounding the Berri and Marjan expansion projects in Saudi Arabia.

Rystad Energy in a July 19 report said, “Elsewhere, large projects such as the Area 1 LNG project off the coast of Mozambique, the Kharasaveyskoye development in the Yamal Peninsula, the Liza phase 2 project offshore of Guyana and the Mero-2 development off the coast of Brazil still await sanctioning.”

During the remainder of 2019 sanctioning is also expected for a handful of large projects, specifically the next set of LNG trains in Qatar, the Zuluf expansion project in Saudi and the Area 4 LNG off Mozambique.

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