Gas from Guyana-Suriname basin: how soon? [Gas in Transition]
Gas from Guyana-Suriname basin: how soon? [Gas in Transition]
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Natural Gas News
Gas from Guyana-Suriname basin: how soon? [Gas in Transition]
Summary
Guyana sees development of its offshore gas resources as a long-term prospect rather than as something for the short or medium term. [Gas in Transition, Volume 3, Issue 8] by: Jennifer DeLay
The Guyana-Suriname basin is known to contain large amounts of natural and associated gas as well as crude oil. Gas accounts for about 25% of the 11bn barrels of oil equivalent (boe) in recoverable reserves discovered at Stabroek, a massive block offshore Guyana operated by ExxonMobil. It has also been found in sizable quantities at Block 58, a licence area offshore Suriname where TotalEnergies is serving as operator, and it accounts for a portion of the discoveries made in the northern section of the Corentyne block offshore Guyana, operated by Canada’s CGX Energy. Thus far, though, plans for developing these gas reserves have been slow to emerge. Among the three operators listed above, ExxonMobil has made the most progress – probabl...
Related Knowledge Center: Liquefied natural gas
Driven by plentiful natural gas produced from shale plays, the United States began exporting liquefied natural gas in 2016 when the Sabine Pass terminal in Louisiana opened and shipped its first cargo. Since then, additional capacity, or trains, have been added to Sabine Pass, and terminals have become operational in Cameron Parish, La.; Hackberry, La.; Cove Point, Md.; and Corpus Christi, Texas. The Energy Information Administration projects that U.S. LNG export capacity will reach 8.9 billion cubic feet per day (Bcf/d) by the end of 2019, making it the third largest in the world, behind Australia and Qatar. The tariff war with China has the potential to impact some final investment decisions for additional terminals in the coming months.