ROD DEAN'S 2006 REVIEW
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E & C Hydrocarbon Review - The Global view from Europe. Looking back on 2006 & ahead to 2007.
The LNG contracting groups remain more or less the same companies - albeit changing partners to suit circumstances. The club comprises Bechtel, KBR, JGC, Technip, Chiyoda, FW and CB&I with Saipem making a claim. With so much LNG work around and quite a bit it of reimbursable (in Australia) the expansion of the club was bound to happen - whether any of the new entrants will take on LS risk is another matter (well CB&I may have answered the question.)
Another factor will be the size of Train (now setting a standard of 7 - 8 MTPA) the numbers of new trains will inevitable reduce in the future. We are seeing them in construction in Qatar and in Nigeria and maybe in some of the projects that are currently on hold or under review.
As a postscript we should mention the Snohvit LNG project in Northern Norway. Well its now well on the way and that ‘joiners’ fee I mentioned last year may be money ultimately well spent. We are still saying that the experience that would help them in the future should they be successful in joining any of the north Russian LNG projects - in fact their membership may still be a big plus to Gazprom, who have been invited to participate in Snohvit Train 2 - a prerequisite to the economic success of the overall Snohvit development. Unfortunately Shtokman LNG has run into a few problems - the major one being the hardening attitude of the Russian leadership in the Kremlin towards the IOC’s which has basically stopped any ongoing study work for the past six months or so. This is also coupled with the decision to develop a pipeline from Northern Russia to take the first few years of Shtokman gas to mainland Western Europe.
Norway remains a major supplier of Gas to Europe and the UK and the supply has increased during 2006 with the completion of the Britpipe from Nyhamna (well not quite as far as Nyhamna yet!) to Easington - but it started to supply gas during the autumn. Most of Europe perceives Norway as reliable supplier of gas (piped and hopefully LNG in the future) and the ‘man on the Clapham Omnibus’ is certainly now ‘more aware’ of the precarious state of current UK Gas supplies? Our own production is still falling away fast - now no longer self sufficient the Inter Connector has turned around and the three new LNG receiving terminals are now well on the way to completion. More gas is being transported to both the Kollsnes and Karsto Terminals so that means further expansions and upgrades are on the way at both locations.
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