Golar’s Cameroon FLNG to ship 56th cargo as throughput talks continue

Golar’s Hilli Episeyo, world’s first converted FLNG vessel, will soon dispatch the 56th cargo since it started operations three years ago offshore Kribi, Cameroon.

“FLNG Hilli Episeyo is currently offloading the 56th cargo, with 100% commercial uptime maintained,” Golar LNG said in its first-quarter report on Thursday.

This follows the 50th cargo in January this year.

Hilli Episeyo started commercial operations 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 eight-year deal expiring in 2026.

Moreover, 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.

Talks continue

Golar said it has continued to hold talks with Perenco and SNH on increasing the vessel’s throughput, but the firm also executed all remaining documentation required to remove the cap on gas reserves available for liquefaction by the FLNG.

“Although drilling has not yet commenced, current plans to bring on incremental production from first quarter in 2022 remain likely,” Golar said in its financial report.

Golar has an economic interest in around 87 percent of any incremental earnings from increased throughput of the third train, it said.

In addition to the third train discussions, Hilli is expected to generate Brent Oil linked cash flows, in which Golar has an 89 percent economic interest, from the second quarter this year.

“The contractual Brent Oil linked component of Hilli’s currently contracted production generates incremental cashflows equivalent to approximately $3 million per annum for every dollar the Brent Oil price is above $60/barrel, up to an agreed but undisclosed ceiling,” the firm said.

Most Popular

TotalEnergies plans second Mozambique LNG phase

French energy giant TotalEnergies plans to expand its Mozambique LNG project, currently under construction in Cabo Delgado province, with a second phase, according to management.

Shell, partners take FID on LNG Canada Phase 2

UK-based LNG giant Shell and its LNG Canada partners have made a final investment decision on the project's second phase, which will double production capacity at the facility in Kitimat, British Columbia.

NextDecade’s Rio Grande LNG gets FERC OK to boost capacity

US LNG developer NextDecade has secured a green light from the Federal Energy Regulatory Commission to increase approved capacity at its Rio Grande LNG terminal in the Port of Brownsville, Texas.

More News Like This

Golar to raise $500 million via notes offering

Floating LNG player Golar LNG expects to close a $500 million senior notes offering in October.

Golar eyes fleet of more than seven FLNGs

Floating LNG player Golar LNG has made a pathway to increase its FLNG fleet to over seven units after ordering its fourth unit and securing two more shipyard slots, according to CEO Karl Fredrik Staubo.

Golar inks LoI with Seatrium for new FLNG conversion

Floating LNG player Golar has entered into a letter of intent with Singapore's Seatrium to secure incremental FLNG yard capacity for another FLNG conversion.

Golar orders fourth FLNG in China

Floating LNG player Golar LNG said that it had executed an engineering, procurement, and construction (EPC) agreement with China's Yantai CIMC Raffles Offshore for its fourth FLNG and second MKII FLNG with an annual liquefaction capacity of 3.5 mtpa.