Fortuna Equatorial Guinea FLNG project

This article is part of the Global Fossil Infrastructure Tracker, a project of Global Energy Monitor and the Center for Media and Democracy.

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Fortuna FLNG project is a floating LNG terminal under development off the coast of Equatorial Guinea.

Location

This map shows the approximate location of Block R, the location of the FLNG project, in territorial waters of Equatorial Guinea.

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Project Details

• Owner: Ophir Energy (33.8%), Golar LNG (33.1%), Schlumberger (33.1%)
• Location: Block R, Equatorial Guinea
• Coordinates: 3.2, 7.6 (approximate)
• Capacity: 2.5 mtpa, 0.36 bcfd
• Status: Proposed
• Start Year: 2020

Note: mtpa = million tonnes per year; bcfd = billion cubic feet per day

Background

The UK-based oil & gas exploration company Ophir Energy and OneLNG (a joint venture of Norwegian LNG company Golar LNG and U.S. oilfield services company Schlumberger) are currently developing a proposal to build a floating liquefied natural gas (FLNG) terminal in Equatorial Guinea's Block R, off the southwest coast of Bamako Island. The terminal will consist of four production trains, and have a capacity of 2.5 million tons per year (mtpa), or 0.36 billion cubic feet per day (bcfd). It is expected to start production in 2020.

Block R contains a total of 2,600 billion cubic feet of gas. The project would cost $2 billion.

In May 2017, the three sponsoring companies signed an agreement with GEPetrol (Compañía Nacional De Petróleos De Guinea Ecuatorial), Equatorial Guinea's state-owned oil & gas company, establishing a legal framework for the project. Under the agreement, Equatorial Guinea has the right of ownership of up to 30% in the FNLG vessel. Also in May, Ophir awarded the construction contract for conversion of the LNG vessel Gandria to the Keppel Corporation's shipyard in Singapore. The project's sponsors were still negotiating with Chinese lenders; once those negotiations are finished, the sponsors hope to issue their final investment decision (FID).

The project, which has been bogged down by delayed financing since its inception, ran into further trouble in May of 2018 after U.S. oil services company Schlumberger pulled out of the venture.