Total to source LNG from Atlantic basin

Total are looking to the Atlantic Basin as a physical back-up for Western Europe and will also look to Australian projects to help alleviate global LNG supply squeezes. Guy Broggi, now Senior Advisor to the Director of LNG at TOTAL SA, has spoken about Total’s plans for the future and the likely impact that American LNG exports might have in global markets.

Total are expecting Australia to become the world’s largest LNG exporter by 2020, even surpassing Qatar. Mr Broggi pointed out that Total is already present in two new large projects in Australia, Santos CBM LNG at Gladstone and ICHTYS project in Northern Territory with Inpex, and that “Total is hoping that its newly acquired concessions in Western Australia will lead to new productions if we are successful.”

US LNG exports are also expected to have a huge impact on the world LNG supply and with demand for clean-burning LNG only set to increase further it should help keep prices down.

Total predict that, ‘The US LNG exports will have a tremendous impact worldwide, first in the Southern Cone where Argentina and Chile will be relieved from previously thought skyrocketing prices; secondly it is a real physical back-up for Western Europe (mainly the UK) against any bad news from Qatar’s Ras-Laffan LNG production and thirdly it’s a price signal about a potential convergence of worldwide prices for natural gas.’

Read the article online at: https://www.worldpipelines.com/business-news/15122011/total_to_source_lng_from_atlantic_basin/