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Cameroon: Perenco announces signing of FLNG project offshore Cameroon
29 Nov 2015
Gazprom Marketing & Trading Singapore ('GM&TS'), Société Nationale des Hydrocarbures ('SNH'), Perenco Cameroon ('PERCAM'), Golar Hilli and Golar Cameroon ('GOLAR') have announced the signing of an eight year floating liquefied natural gas project, off the coast of Kribi, Cameroon.
The project is based on the allocation of 500 BCF of natural gas reserves to be supplied by SNH and PERCAM from the Sanaga Sud and Ebome fields. The FLNG Terminal will be owned and operated by GOLAR via its 'Hilli' FLNG vessel currently under conversion at the Keppel Shipyard in Singapore. First LNG deliveries from the terminal are scheduled to commence during the second half of 2017.
Following an international tender GM&TS has been awarded this 1.2 million tonnes per annum FOB LNG sales contract and will be the sole off-taker from the FLNG terminal.
On the basis of the foregoing, SNH and Perenco Cameroon are happy to announce the Final Investment Decision ('FID') for the FLNG project.
The project represents an outstanding industry initiative bringing off-shore liquefaction solutions to monetize previously unexploited or marginal natural gas accumulations. Commercial innovations and optimisations in the upstream, mid-stream and downstream value chain have been decisive elements leading to the FLNG Project’s FID.
See related article: Gazprom to buy all LNG from Cameroon export plant