Latest news with #FLNG
Zawya
10-07-2025
- Business
- Zawya
Golar LNG Reaches Commercial Operations Date (COD) at Greater Tortue Ahmeyim (GTA) Project, Joins African Energy Week (AEW) 2025 as Gold Partner
Golar LNG has officially announced that its FLNG Gimi vessel has reached its Commercial Operations Date (COD) under the 20‑year lease-and-operate agreement for the Greater Tortue Ahmeyim (GTA) gas project offshore Mauritania and Senegal. Achieving COD triggers the commencement of this long-term contract – unlocking approximately $3 billion in adjusted EBITDA backlog for Golar – and marks a major milestone in positioning both countries as emerging LNG exporters. The Gimi FLNG unit will initially produce 2.4 million tons of LNG per annum, with plans to ramp up to its full capacity of 2.7 million tons. Backed by an estimated 15 trillion cubic feet of natural gas, the GTA project is expected to bolster regional and global energy security while stimulating economic growth in both host nations. In line with its growing presence in Africa's energy landscape, Golar LNG has joined the 2025 edition of African Energy Week (AEW): Invest in African Energies as a Gold Partner. Taking place from September 29 to October 3 in Cape Town, AEW 2025 brings together African governments, energy companies and global investors to explore and advance opportunities across the energy value chain. The event serves as a strategic platform for companies like Golar LNG to showcase innovative FLNG solutions and their long-term commitment to Africa's energy development. Golar LNG's participation at AEW aligns with the event's broader vision to develop Africa's estimated 620 trillion cubic feet of natural gas as a catalyst for energy security and poverty alleviation. In June 2024, the company signed a Project Development Agreement with the Nigerian National Petroleum Company Limited for a new FLNG facility in the Niger Delta. The project is designed to liquefy 400–500 million standard cubic feet of gas per day, contributing to Nigeria's Decade of Gas Initiative and its goal to harness 209 trillion cubic feet of reserves to expand access to cleaner, more reliable energy. Golar LNG has also played a pioneering role in Cameroon's gas sector since 2018, operating the 2.4-million-ton-per-annum Hilli Episeyo FLNG facility. As the company continues to grow its balance sheet and expand its footprint across the continent, AEW: Invest in African Energies offers an unparalleled opportunity to engage African stakeholders and pursue new prospects across the natural gas value chain. 'The commercial launch of the Gimi FLNG facility is a major step forward for the MSGBC Basin and Africa's LNG market,' says Ore Onagbesan, Program Director, AEW. 'As countries like Nigeria, Ivory Coast, Gabon, Equatorial Guinea, Ghana, Mozambique and Tanzania work to monetize their offshore gas resources, innovative and reliable partners such as Golar LNG will play a vital role in driving sustainable growth and long-term value.' Distributed by APO Group on behalf of African Energy Chamber. About AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event.
Associated Press
02-07-2025
- Business
- Associated Press
Delfin Midstream Enters into an Agreement with Siemens Energy to Reserve Gas Turbine Manufacturing Capacity, Expects Fall Final Investment Decision for its Leading US Energy Infrastructure Project
Enters into Early Works program with Samsung Heavy Industries and Black & Veatch in preparation for the EPCI contracting and execution of the project HOUSTON, July 02, 2025 (GLOBE NEWSWIRE) -- Delfin Midstream Inc. ('Delfin' or the 'Company') announced today that it has entered into an agreement with Siemens Energy Inc. ('Siemens Energy') to reserve manufacturing capacity for four SGT-750 Gas Turbine Mechanical Drive Packages. Delfin also announced that it has agreed to an Early Works program with Samsung Heavy Industries ('SHI') and Black & Veatch Inc. ('B&V') to further detail FLNG vessel design specifications as basis for the Lump-Sum Turn-Key Engineering, Procurement, Construction, and Integration ('EPCI') contract and to prepare both contractors for the execution of the project. The Company's activities are in support of a Final Investment Decision ('FID') anticipated in the Fall of 2025 for its leading US energy infrastructure project under development in Louisiana and offshore in the Gulf. Dudley Poston, Delfin CEO, said: 'This is an incredibly exciting time for the development of Delfin's critical energy infrastructure project. Following the successful issuance of the deepwater port license by MARAD, all workstreams are on schedule and the project is currently on track for FID in the Fall of 2025. By making this large investment to lock-in critical manufacturing capacity, we have secured our execution schedule with the anticipated delivery of our first FLNG Vessel from Samsung Heavy Industries shipyard in 2029.' Karim Amin, Siemens Energy Executive Board Member said: 'Siemens Energy is excited to support Delfin's energy infrastructure project by providing the critical Gas Turbine Mechanical Drive packages the Company needs as it moves towards delivering the first offshore LNG project in the United States. The modular design, high power-to-weight ratio and ability to operate under diverse conditions make Siemens Energy gas turbines an innovative and ideal technology solution for this leading low emissions energy infrastructure project.' The agreement with Siemens Energy reserves manufacturing capacity for four SGT-750 Gas Turbine Mechanical Drive Packages which will be used to drive the mixed-refrigerant compressors for Delfin's LNG liquefaction system. Delfin's Early Works program agreement with Samsung and B&V will further detail FLNG Vessel #1 design specifications as basis for the Lump-Sum Turn-Key EPCI contract. This work will de-risk project execution and ensure both contractors are prepared for immediate project execution following a positive FID. On March 21, 2025, Delfin LNG LLC ('Delfin LNG'), a subsidiary of Delfin, received the first deepwater port license from the Maritime Administration ('MARAD') authorizing Delfin LNG to own, construct, operate, and export Liquefied Natural Gas ('LNG') from the United States. The license was issued pursuant to the Deepwater Port Act of 1974 and MARAD's 2017 Record of Decision and is in accordance with President Trump's Executive Order titled, 'Unleashing American Energy,' signed January 20, 2025. Delfin is a leader in LNG export infrastructure utilizing low-cost floating LNG technology. Delfin's brownfield deepwater port requires minimal additional infrastructure investment to support up to three floating LNG vessels producing up to 13.2 million tonnes of LNG annually. The Delfin floating LNG project has the potential to not only be the first LNG export deepwater port facility in the United States, but a significant economic contributor and job creator over the long-term. About Delfin Delfin is a leading LNG export infrastructure development company utilizing low-cost Floating LNG technology solutions. Delfin is the parent company of Delfin LNG. Delfin LNG is a brownfield Deepwater Port requiring minimal additional infrastructure investment to support up to three FLNG Vessels producing up to 13.2 MTPA of LNG. Delfin purchased the UTOS pipeline, the largest natural gas pipeline in the Gulf of America. Delfin LNG received a deepwater port license from MARAD and approval from the Department of Energy for long-term exports of LNG to countries that do not have a Free Trade Agreement with the United States. Additional information is available at Public Relations Dan Gagnier Gagnier Communications Email: [email protected]
Yahoo
24-06-2025
- Business
- Yahoo
FLNG Gimi starts commercial operations at Greater Tortue Ahmeyim project
Golar LNG has confirmed that the FLNG Gimi has reached the commercial operations date (COD) under a 20-year lease and operate agreement with BP (bp) for the Greater Tortue Ahmeyim (GTA) project, located offshore Mauritania and Senegal. bp is the operator of GTA with a 56% working interest, alongside Kosmos Energy (27%), PETROSEN (10%), and SMH (7%). The COD indicates that LNG production has successfully ramped up to approximately 2.4 million tonnes per annum (mtpa), close to 90% of the facility's nameplate capacity of 2.7mtpa. This follows the first LNG production in February this year, the inaugural cargo in April, and subsequent exports in May and early June. A fourth cargo is currently loading, and a fifth is anticipated to commence at the start of the third quarter (Q3) of 2025. Kosmos projects 3.5 gross cargoes for Q2. The achievement of the COD and the increase in cargo lifting activity underscore the strong cooperation between the project partners and Golar. The first gas flow from the GTA project to the floating production storage and offloading vessel occurred on 31 December of the previous year, marking the start of the commissioning process. This February, Golar LNG confirmed it was exiting the LNG shipping sector with the sale of its carrier, Golar Arctic, for $24m, excluding transaction costs. The 2003-built Marshall Islands-flagged ship has a 140,000m³ capacity and a gross tonnage of 94,934. "FLNG Gimi starts commercial operations at Greater Tortue Ahmeyim project" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
23-06-2025
- Business
- Yahoo
Kosmos Energy Confirms Commercial Operations Date Reached for Golar's FLNG Gimi at Greater Tortue Ahmeyim
DALLAS, June 23, 2025--(BUSINESS WIRE)--Kosmos Energy (NYSE/LSE: KOS) notes the announcement by Golar LNG Limited ("Golar") that the FLNG Gimi has reached Commercial Operations Date ("COD") for the 20-year Lease and Operate Agreement with BP for the Greater Tortue Ahmeyim (GTA) project offshore Mauritania and Senegal. The announcement of COD marks a significant milestone for the project partners, as LNG production volumes have successfully been ramped up to a level equivalent to the annual contracted volumes of approximately 2.4 million tonnes per annum (mtpa), or around 90% of nameplate capacity of 2.7mtpa. The achievement of COD follows first LNG in February and the first LNG cargo in April. The second and third LNG cargo were exported in May and early June respectively and a fourth cargo is currently loading. The fifth cargo is expected at the start of the third quarter. With this expected cargo timing, Kosmos forecasts 3.5 gross cargos in the second quarter. Achieving COD and the recent ramp up in cargo lifting activity highlights continued strong cooperation between the project partners and Golar. About Kosmos Energy Kosmos Energy is a leading deepwater exploration and production company focused on meeting the world's growing demand for energy. We have diversified oil and gas production from assets offshore Ghana, Equatorial Guinea, Mauritania, Senegal and the Gulf of America. Additionally, in the proven basins where we operate we are advancing high-quality development opportunities, which have come from our exploration success. Kosmos is listed on the NYSE and LSE and is traded under the ticker symbol KOS. As an ethical and transparent company, Kosmos is committed to doing things the right way. The Company's Business Principles articulate our commitment to transparency, ethics, human rights, safety and the environment. Read more about this commitment in the Kosmos Sustainability Report. For additional information, visit Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Kosmos expects, believes or anticipates will or may occur in the future are forward-looking statements. Kosmos' estimates and forward-looking statements are mainly based on its current expectations and estimates of future events and trends, which affect or may affect its businesses and operations. Although Kosmos believes that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made in light of information currently available to Kosmos. When used in this press release, the words "anticipate," "believe," "intend," "expect," "plan," "will" or other similar words are intended to identify forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Kosmos, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Further information on such assumptions, risks and uncertainties is available in Kosmos' Securities and Exchange Commission ("SEC") filings. Kosmos undertakes no obligation and does not intend to update or correct these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by applicable law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement. View source version on Contacts Investor Relations Jamie Buckland+44 (0) 203 954 2831jbuckland@ Media Relations Thomas Golembeski+1-214-445-9674tgolembeski@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-05-2025
- Business
- Yahoo
Is Flex LNG (FLNG) Outperforming Other Transportation Stocks This Year?
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Flex LNG (FLNG) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Transportation peers, we might be able to answer that question. Flex LNG is one of 123 companies in the Transportation group. The Transportation group currently sits at #15 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst. The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Flex LNG is currently sporting a Zacks Rank of #1 (Strong Buy). Within the past quarter, the Zacks Consensus Estimate for FLNG's full-year earnings has moved 12.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive. Our latest available data shows that FLNG has returned about 3.8% since the start of the calendar year. Meanwhile, the Transportation sector has returned an average of -7.3% on a year-to-date basis. This means that Flex LNG is outperforming the sector as a whole this year. Another Transportation stock, which has outperformed the sector so far this year, is Ryanair (RYAAY). The stock has returned 28.4% year-to-date. For Ryanair, the consensus EPS estimate for the current year has increased 8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy). Looking more specifically, Flex LNG belongs to the Transportation - Shipping industry, a group that includes 36 individual stocks and currently sits at #171 in the Zacks Industry Rank. On average, this group has lost an average of 6.5% so far this year, meaning that FLNG is performing better in terms of year-to-date returns. In contrast, Ryanair falls under the Transportation - Airline industry. Currently, this industry has 28 stocks and is ranked #146. Since the beginning of the year, the industry has moved -7.3%. Going forward, investors interested in Transportation stocks should continue to pay close attention to Flex LNG and Ryanair as they could maintain their solid performance. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Flex LNG Ltd. (FLNG) : Free Stock Analysis Report Ryanair Holdings PLC (RYAAY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
