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.