Fortuna deepwater floating LNG terminal

Overview:

• Fortuna deep-water floating LNG terminal.
• A joint operating company (JOC) owned by Ophir (33.8%) and OneLNG (66.2%) is developing a floating LNG (FLNG) project offshore Equatorial Guinea in licence Block R.
• Fortuna is Africa’s first deep-water independent FLNG project.  
• OneLNG, a joint venture between US oil and gas company Schlumberger and Golar LNG, was established specifically for the Fortuna project.   
• Golar LNG, a midstream LNG infrastructure supplier, is providing the technology for the development including vessel which will be used, Gandria FLNG. 
• Equatorial Guinea's national oil and gas company, La Compañía Nacional De Petróleos De Guinea Ecuatorial (GEPetrol)has signed an umbrella agreement entitling it a 20% stake in the upstream segment of the project, and a possible 30% stake in the Gandria FLNG.
• The JOC has agreed term sheets with a group of China-based lenders to provide $1.2 billion debt financing for the project.
• Initial off-take is expected to be 2.2 to 2.5 metric tonnes annually for between 15 and 20 years.
• First production of gas is scheduled for 2020. 

Ben Naylor - Regional editor