Golar: Hilli Episeyo in full commercial operation off Cameroon

Golar LNG has informed that FLNG Hilli Episeyo, world’s first converted FLNG vessel, has been accepted under its Liquefaction Tolling Agreement with Perenco Cameroon SA and Societe Nationale Des Hydrocarbures and is now in full commercial operation, offshore Cameroon.

Hilli Episeyo FLNG / Image source: Keppel

The commissioning tests included the requirement to produce a set quantity of LNG in a period of 16 days of continuous production from minimum 2 trains at a level of 7500 m3 per day on average. The vessel is moored offshore Kribi, Cameroon.

The vessel was converted from the 1975-built Moss LNG carrier with a storage capacity of 125,000 m3. It was designed for a liquefaction capacity of about 2.4 million tonnes of LNG per annum.

It produced its first LNG from Perenco’s Sanaga field in March 2018. Russia’s Gazprom is a sole off-taker from the floating liquefied natural gas (FLNG) project. A few years ago, Gazprom inked the eight-year agreement for 1.2 million tonnes per year.

Golar LNG on Monday said the commercial tolling rate starting will immediately add approximately $164 million in EBITDA of base tolling income per year plus an additional $45 million operating cash flow per year based on the oil price linked element of the contract (assuming that Brent remains at an average of $75/bbl).

As a result of the start of commercial operations, Golar is now able to draw on the $960 million lease financing facility that will replace the existing loan, the company said.

Golar said: “The Board wishes to thank all employees for an impressive job and a very well executed project.  The commencement of Hilli puts Golar in an unchallenged position as a reliable provider of low-cost FLNG technology”

 

Share this article

Follow Offshore Energy Today

Events>

<< Aug 2018 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

FPSO World Congress 2018

This year’s FPSO World Congress will tap on this green shoots of recovery and will focus on practical strategies to address key project…

read more >

ONS 2018

Offshore Northern Seas (ONS) provides a platform for the presentation of the political, economic and technological issues involving…

read more >

FPSO World Congress 2018

The Congress will continue its global focus and will feature the biggest and most important names in the FPSO industry…

read more >

SPE Asia Pacific Oil & Gas Conference and Exhibition 2018

As the energy industry adapts to a new status quo operating under sustained low oil prices, there continues to be a need for the industry…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply