Golar LNG, via newly created subsidiary Gimi MS, has entered into a 20-year lease and operate agreement with BP for the charter of an FLNG unit Gimi.
The FLNG vessel will be used at the Greater Tortue Ahmeyim project, with production expected to commence in 2022. Greater Tortue Ahmeyim project is located on the Mauritania and Senegal maritime border.
The FLNG-owning subsidiary Gimi MS is 30% owned by Singapore’s Keppel Capital, and LNG carrier Gimi has been relocated to Keppel Shipyard where conversion works will commence shortly.
Construction of the Gimi is expected to take around for years and cost $1.3bn.
Iain Ross, CEO of Golar LNG, commented: “This landmark 20-year agreement with BP, which is Golar’s second FLNG tolling agreement, is the culmination of a lot of hard work and commitment from the project and commercial teams that commenced late 2017. The potential of Golar’s floating LNG solution was reinforced by FLNG Hilli Episeyo’s proof of concept, Heads of Terms were agreed with BP and its partners in April 2018 and work has been ongoing via the previously reported Limited Notice to Proceed. Golar is delighted to have the opportunity to demonstrate the safe and reliable operation, quality and value of its FLNG offering to such a world class energy company as BP and looks forward to safely delivering and building on this long-term relationship over the decades ahead.”