LNG

Umbrella agreement signed for Fortuna FLNG

An umbrella agreement has been signed for the development of the Fortuna FLNG project in Equatorial Guinea, Ophir and OneLNG have announced.
By Staff reporter 2 May 2017 0 25721

An umbrella agreement has been signed for the development of the Fortuna FLNG project in Equatorial Guinea, Ophir and OneLNG have announced.

The agreement, which defines the full legal and fiscal framework for the development, was signed between Ophir, OneLNG and the government of Equatorial Guinea.

The agreement is one of the hurdles the project needed to pass to reach an FID, which is expected by H1.

First gas from the 2.5 mtpa plant is expected by 2021.

The developers must now award construction contracts for the upstream and...