BP’s African LNG project hit by delayed delivery of liquefaction vessel

Shell is not very happy with its Prelude floating liquefaction vessel. Looks like an economic disaster. What are the chances that BP fares any better? Let’s be clear – I have long argued for an LNG project in Mauretania in order to exploit the gas reserves at the Greater Tortue Ahmeyim. But regasification is already much more challenging on a moving vessel and hence way more expensive than an onshore operation. That said, compared to liquefaction, regasification is an exercise in simplicity. So if the simple thing is already economically iffy, the way more complex thing must be an economic blowout. 

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