- Petronas’ PFLNG Satu, world’s first floating LNG production facility at the time of its launch, that exported its first LNG cargo April 1, 2017 stops production.
- Its second floating LNG facility under construction PFLNG Dua.
- Petronas’ total production volume for 2018 rose to 2.36 million boe/d from 2.32 million boe/d in 2017.
- Malaysia’s average sales gas volume rose to 2.78 billion scf/d over the period due to higher demand.
- Total LNG sales volume fell by 1.78 million mt to 28.94 million mt in 2018 due to pipeline outages at the Bintulu plant.
Malaysia’s floating LNG export vessel PFLNG Satu stops production ahead of relocation, reports Platts.
However, as of today, it still remains at the Kanowit gas field, offshore Bintulu, Sarawak. An announcement on this will be made in due course, national oil company Petronas confirmed in a statement.
Impact on spot market
The production halt will have negligible impact on the spot market as the plant’s LNG output has been well below its full capacity, with few cargoes being offered on the market since it started operations, according to a Singapore-based LNG trader.
PFLNG Satu has a capacity of 1.2 million mt/year of LNG.
Why was relocation planned?
It was billed as the world’s first floating LNG production facility at the time of its launch, and exported its first LNG cargo April 1, 2017.
Petronas has been working to move the vessel to a new gas field in an attempt to boost LNG production volumes, the trader said.
Petronas has a second floating LNG facility under construction — PFLNG Dua — which will be mechanically completed by the end of this year and is expected to starts in the first quarter of next year, said CEO Tan Sri Wan Zulkiflee Wan Ariffin.
Total production and sales
Petronas’ total production volume for 2018 rose to 2.36 million boe/d from 2.32 million boe/d in 2017, mainly due to higher production from Iraq and Turkmenistan.
Malaysia’s average sales gas volume rose marginally to 2.78 billion scf/d over the period due to higher demand.
However, its total LNG sales volume fell by 1.78 million mt to 28.94 million mt in 2018 due to pipeline outages at the Bintulu plant.
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Source: Platts
