Golar to develop Africa’s first floating LNG project located off Cameroon
Golar LNG Ltd. announced the signing of a Heads of Agreement (HOA) with Societe Nationale de Hydrocarbures (SNH) and Perenco Cameroon for the development of a floating FLNG (FLNG) export project located 20 km off the coast of Cameroon.
The project will use Golar's floating liquefaction technology, GoFLNG.
The HOA is premised on the allocation of 500 Bcf of natural gas reserves from the offshore Kribi fields, which will be exported to global markets via the FLNG vessel Golar Hilli.
The FLNG project is under construction at the Keppel Shipyard in Singapore, and production is slated to commence in the first half of 2017.
Golar will provide the liquefaction facilities and services under a tolling agreement to SNH and Perenco. The owners will also produce LPG for the local market in association with the project.
It is anticipated that the allocated gas reserves will be produced at 1.2 metric MMtpy of LNG over an eight-year period.
During the first half of 2015, definitive commercial agreements are expected to be executed, and necessary licenses and approvals will be secured for the production, liquefaction and export of the gas reserves.
The project will be the first FLNG export project in Africa and will allow Cameroon to join the small number of LNG-exporting nations.
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