Golar and Rosneft to develop floating LNG liquefaction in South America

Golar and Rosneft to develop floating LNG liquefaction in South America

London: Russia’s largest gas producer Rosneft Oil Company and UK-based Golar LNG are to develop opportunities to deploy Golar’s GoFLNG facilities for the liquefaction and transport of LNG in Latin America and elsewhere in the world.

The two companies aim to sign two FLNG tolling agreements for projects within Rosneft’s upstream natural gas portfolio, Golar said in a statement today.

Golar and Rosneft have signed a memorandum of understanding (MOU) for the project.

Rosneft produced 42.1bn cbm of gas in 2013, with recoverable natural gas reserves of 6.5tr cbm. The company aims to reach 100bn cbm of annual gas production by 2020.

NASDAQ-listed Golar LNG currently operates a fleet of 12 VLGCs, with one VLGC newbuilding still to be delivered this year.

In December 2014, Golar LNG signed a heads of agreement (HOA) with Societe Nationale de Hydrocarbures and Perenco for the development of a FLNG export project located 20km off the coast of Cameroon, which will also use Golar’s GoFLNG units.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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