Gazprom’s subsidiary, Gazprom Marketing & Trading Singapore Pte Ltd (GM&TS), has signed an agreement according to which it will be a sole off-taker from the floating liquefied natural gas (FLNG) project, located off the coast of Kribi, Cameroon.
Gazprom inked the eight-year agreement with Société Nationale des Hydrocarbures (SNH), Perenco Cameroon S.A. (PERCAM), Golar Hilli and Golar Cameroon (GOLAR) for 1.2 million tonnes per annum and will be the sole off-taker from the FLNG terminal.
The project is based on the allocation of 500 BCF of natural gas reserves to be supplied by SNH and Perenco from the Sanaga Sud and Ebome fields.
The FLNG Terminal will be owned and operated by GOLAR via its “Hilli” FLNG vessel currently under conversion at the Keppel Shipyard in Singapore. First LNG deliveries from the terminal are scheduled to start during the second half of 2017.
On the basis of the foregoing, SNH and Perenco Cameroon have announced the Final Investment Decision (FID) for the FLNG project.