World’s first converted FLNG hits another milestone

Golar’s Hilli Episeyo, world’s first converted FLNG vessel, has recently loaded its 50th cargo since the start of operations less than three years ago offshore Kribi, Cameroon.

“During January FLNG Hilli Episeyo achieved another milestone, the production of its 7 millionth cubic meter of LNG and export of its 50th cargo,” Golar LNG said in its fourth-quarter report on Thursday.

This shipment follows the 40th cargo the FLNG dispatched back in June last year.

In addition, the vessel continues to maintain 100% commercial uptime and recently exported its 52nd cargo, Golar said.

Hilli Episeyo started commercial operations back in May 2018 under production tolling deals with Cameroon’s Perenco and SNH.

Russia’s Gazprom is the sole offtaker from the FLNG project taking 1.2 mtpa under an eighth-year deal expiring in 2026.

The gas giant is taking 50 percent of the vessel’s total 2.4 mtpa capacity produced from two trains. The FLNG has in total four trains installed onboard.

Golar said it continued to hold talks with Perenco and SNH on potential solutions to prove up more reserves and increase throughput on the vessel.

Depending on a commercial agreement between the trio and Gazprom, Golar and Perenco would start a drill campaign to prove up additional reserves in March/April 2021, the firm said in the quarterly report.

To remind, New Fortress Energy said last month it would buy two Golar units, including Golar LNG Partners, in a combined deal valued at $5 billion.

The partnership has a 50% interest in the first two trains of the FLNG, such as Golar LNG.

Keppel’s shipyard in Singapore converted the vessel from Golar’s aging 125,000-cbm tanker for $1.2 billion. The vessel departed the yard in October 2017.

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