LNG

Ophir and Equatorial Guinea prepare for no FID on Fortuna

Ophir has until the end of the year to reach FID on the Fortuna project, but the company and the government already appear to be moving on Ophir has until the end of the year to reach FID on the Fortuna project, but the company and the government already appear to be moving on.
By Felix Janvrin 8 October 2018 0 32816
Equatorial Guinea’s Minister of Mines and Hydrocarbons Gabriel Mbaga Obiang Lima. (Africa Oil & Power)

The developers of the Fortuna FLNG project in Equatorial Guinea have until the end of December to line up financing for the project, otherwise their licence will expire. Both the government and Ophir Energy, which is leading the project, appear to be positioning themselves for the licence to elapse without renewal. 

Ophir is still looking for a financing counterparty. Speaking to investors in September, the company’s interim chief executive, Alan Booth, said Ophir was looking for a backer for all of its LNG assets. The company...