Huge LNG Facilities Going Online Will Drop Oil Prices Further

In the next few years, huge LNG facilities will force the already bottom line oil prices to further down.

2015
PFLNG 1 - 1.2 million tonnes per annum (mtpa) of LNG
2017
Shell Prelude - 3.6 million tonnes per annum (mtpa) of LNG, 1.3 mtpa of condensate and 0.4 mtpa of LPG
2018
PFLNG 2 - 1.5 million tonnes per annum (mtpa) of LNG

That is an additional of 6.3 million tonnes per annum (mtpa) of LNG to flood the market. This will extend the hydrocarbon glut further.

About the Author

Ver Pangonilo
A Filipino Engineer, Registered Professional Engineer of Queensland (RPEQ) - Australia and Professional Electrical Engineer (PEE) - Philippines with extensive experience in concept select, front-end engineering, HV & LV detail design, construction and commissioning of Hazardous and Non-Hazardous Area electrical installations in water and waste water pipeline and pumping facilities, offshore platforms, hydrocarbon process plants and pipelines including related facilities. Hazardous area classification and design certification (UEENEEM015B, UEENEEM016B, UEENEEM017B).
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