Golar LNG ventures into Kribi gas liquefaction project

Golar LNG Ltd., listed on Oslo Stock Exchange and NASDAQ seeks to enter into floating liquefaction (GoFLNG) technology of the Kribi gas project. This will take off in the southern region via a contract which remains to be finalized with the national company of hydrocarbons (SNH) and the Cameroon subsidiary of the tanker Anglo-French Perenco.

The owner and global operator of tankers announced this development on December 24, 2014, naming the two partners in the project. A memorandum of understanding on the export of 500 billion cubic foot of natural gas reserves, allocated from the Kribi gas field to world markets have been endorsed.

Golar LNG account assume that this task considered as the first project of export of offshore LNG in Africa, through its Golar Hilli, a floating plant which is under construction at the shipyard Keppel in Singapore.

Final trade agreements on this project would be made during the first half of 2015, while licences and the necessary approvals will be obtained for production, liquefaction and export of reserves with a view of commercial production starting in the first quarter of 2017.

According Golar LNG Ltd., the SNH and its partner Perenco also plan to produce at Kribi, for the local market, the liquefied petroleum gas (LPG) to the tune of 1.2 million tonnes per year over a period of about eight years.