A heads of agreement (HOA) was signed between Golar LNG, Societe Nationale de Hydrocarbures (SNH) and Perenco Cameroon to develop a floating liquefied natural gas (FLNG) export project located 20km off the coast of Cameroon that will use Golar's floating liquefaction technology (GoFLNG).
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Image from Golar. |
Golar says the HOA is premised on the allocation of 500Bcf of natural gas reserves from offshore Kribi fields, which will be exported to global markets via the GoFLNG facility Golar HIlli, now under construction at the Keppel Shipyard in Singapore.
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.
According to the agreement, Golar will provide the liquefaction facilities and services under a tolling agreement to SNH and Perenco as owners of the upstream joint venture who also intend to produce LPG's for the local market in association with the project.
Definitive commercial agreements are expected 1H 2015, in addition to necessary licenses and approvals secured for the production, liquefaction, and export of the reserves.
Golar says that this project will be the first FLNG export project in Africa and will see Cameroon joining the small number of LNG exporting nations.
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