FLNG becoming ‘mainstream’ as Fortuna project presses ahead

The Fortuna FLNG project in Equatorial Guinea is moving ahead with Guvnor selected as the preferred LNG buyer. Guvnor has committed to take the full contract capacity of Golar LNG’s Gandria FLNG of 2.2m tonnes per year which will be purchased on a Brent-linked, free on board (FOB) basis for a 10-year term. The contract structure allows flexibility for up to 1.1m tonnes of the Fortuna capacity to be marketed on an alternate basis.

The final investment decision (FID) for the project remains on track for later this year.

Mbaga Obiang Lima, Equatorial Guinea’s minister of mines and hydrocarbons, commented: “The Fortuna Project will target becoming the first choice supplier of LNG for the LNG to Africa initiative, furthering Equatorial Guinea’s leadership position in Africa as an LNG exporter.”

Nick Cooper, chief executive of Ophir, one of the partners involved in the project, said that FLNG was now becoming mainstream worldwide.

“With Golar’s sister vessel, the Hilli Episeyo, nearing completion and with Petronas FLNG having recently delivered commercial cargoes, FLNG is now entering the mainstream,” Cooper said.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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