Golar LNG secures FLNG agreement with BP

Golar LNG secures FLNG agreement with BP

Golar LNG has entered into a preliminary agreement and exchanged heads of terms for a charter agreement with BP Mauritania Investments and BP Senegal Investments in their capacity as block operators.

The charter agreement includes front end engineering design (FEED) on the provision of an FLNG vessel to support the development of the Greater Tortue / Ahmeyin field, located offshore Mauritania and Senegal.

The preliminary agreement creates obligations on Golar to progress FEED work and be ready for a vessel conversion from July 1 onwards, which would be contingent on project FID, expected end 2018. The vessel conversion will take place at Keppel Shipyard building on yard’s delivery of the FLNG Hilli Episeyo.

The agreement also includes an option for a second FLNG vessel.

“This agreement with BP underscores the value that Golar’s unique FLNG proposition brings to monetizing gas reserves to LNG at competitive prices. The FLNG contract shows solid long-term economics on an unleveraged basis. We are looking forward to building on the successful conversion of the Hilli Episeyo for Greater Tortue / Ahmeyin,” said Golar CEO Iain Ross.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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