The expansion of Angola LNG from a single-train to a two-train facility has been under consideration for several years, with the project periodically advancing and retreating in response to shifting gas market conditions, upstream production outlooks, and the evolving priorities of the joint venture partners. As of early 2026, the expansion project appears to be regaining momentum, though several critical milestones must be achieved before a final investment decision can be taken.
Feed Gas Commitment
The most fundamental prerequisite for the expansion is securing sufficient long-term feed gas commitments to justify the capital investment. A second 5.2 mtpa train would require approximately 750-800 million cubic feet per day of additional feed gas supply, sustained over a project life of 20-25 years.
Current feed gas availability from existing offshore blocks is insufficient to support a second train at full utilization. The expansion therefore depends on a combination of new upstream development approvals, enhanced gas gathering from blocks that currently reinject or flare associated gas, and potentially the development of non-associated gas resources that have not been commercially prioritized under the current oil-focused upstream strategy.
Negotiations between the Angola LNG joint venture and upstream operators are ongoing, with feed gas agreements expected to follow a delivered-to-plant pricing structure that shares the economic rent between upstream producers and the liquefaction facility.
Capital Cost Estimate
The current capital cost estimate for a second liquefaction train ranges from $5 billion to $7 billion, depending on the scope of associated infrastructure (gas gathering, processing, marine terminal expansion, and utilities). This estimate reflects the inflationary impact on EPC costs since the original train was constructed, offset partially by the brownfield advantages of expanding an existing facility.
The per-tonne capital cost of approximately $960-$1,350/tpa compares to recent greenfield LNG project costs in Mozambique ($1,800-$2,200/tpa) and the United States ($900-$1,100/tpa), positioning the Angola expansion in the mid-range of global competitiveness.
Offtake and Marketing
A second train would approximately double Angola LNG’s available cargo volumes, enabling a more diversified offtake portfolio. The marketing strategy for the expansion is expected to anchor approximately 70-80% of output on long-term (10-15 year) sale and purchase agreements with established Asian and European buyers, with the balance retained for spot and short-term optimization.
Preliminary discussions with potential offtake counterparties have indicated sufficient market interest to underpin the expansion, conditional on competitive pricing and reliable delivery commitments. The strength of Asian buyer interest, particularly from Chinese state-owned enterprises seeking supply diversification away from Australian and Qatari sources, is a positive signal for the project’s commercial viability.
Decision Timeline
The critical path milestones toward a final investment decision include completion of the front-end engineering and design (FEED) study (expected mid-2026), finalization of feed gas supply agreements (targeted end-2026), conclusion of heads of agreement for anchor offtake volumes (first half 2027), and approval by the Angolan government and all joint venture partners (targeted second half 2027 to first half 2028).
Assuming a positive investment decision in 2028, the second train would be expected to achieve first LNG production in 2032-2033, following a four to five year construction and commissioning timeline. This schedule would position Angola LNG as one of the next wave of LNG capacity additions in the 2030s, competing with Mozambique LNG, East African LNG, and expanded Qatari production for market share in a growing global LNG market.