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Baseefa Ltd

Exxon and Qatar Petroleum in talks to bring US gas to UK

21 May 2013

Britain could receive nearly 16 million tonnes of liquefied natural gas to supply its depleted domestic gas supply market if plans by ExxonMobil and Qatar Petroleum to build a LNG export plant in the US go through. Reuters says the deal would see 15.6 million tonnes of LNG per year shipped from the proposed Golden Pass plant in Texas to the South Hook terminal in Wales.

The South Hook LNG terminal in Wales
The South Hook LNG terminal in Wales

ExA long winter has caused UK gas utilities to raise prices on the back of dwindling gas stocks causing alarm for authorities who are concerned about securing dependable supplies.

Middle Eastern LNG producers that have supplied the UK market have done so mostly on a spot-price basis as opposed to agreeing to long term supply contracts. This has made the UK unattractive to these suppliers as it has not been able to match higher-paying customers in Asia, especially during winter periods.

South Hook terminal was not used to its full capacity this winter, even though demand was high.

The Golden Pass facility, originally built to import LNG nearly three years ago but mothballed until now, is one of several terminals that could be used for handling US LNG exports. 


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