Golar LNG, national oil firm Societe Nationale de Hydrocarbures (SNH) and French independent Perenco have agreed the commercial terms for the Africa's first floating LNG (FLNG) project.
The project will be the first FLNG export project in Africa and will see Cameroon joining the small number of LNG exporting nations. It will also be Golar's first deployment of its GoFLNG technology.
The move, which will bring natural gas from the offshore Kribi fields to market via a FLNG unit, paves the way for Golar LNG's first deployment of its GoFLNG technology. The unit, already under construction at Keppel Shipyard in Singapore, will be stationed 20km offshore Cameroon.
The joint venture anticipates allocated reserves to be produced at the rate of 1.2 million tonne per annum of LNG over an eight-year period, with production slated to being in 1H 2017.
Golar's CEO Gary Smith commented: "Golar is delighted to have achieved this very significant milestone in what will be our first GoFLNG project. This project in Cameroon is breaking new ground both technically and commercially for the LNG industry and would not have been possible without the innovative approach adopted by the teams at Perenco, SNH and Golar. This commitment with Perenco represents a further step in the implementation of Golar's strategy to become the industry's leading integrated midstream LNG services provider, supporting resource owners, gas producers and gas consumers."