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GLNG AFRICA GLNG

Golar LNG: Hilli Episeyo FLNG boosts

production capacity to 1.4mn tpy

TERMINALS BERMUDA-REGISTERED Golar LNG reports Golar LNG arranged to have the volume
that the Hilli Episeyo, its floating LNG (FLNG) of gas delivered to the FLNG increased last
vessel operating offshore Cameroon, has suc- year under an agreement with Perenco (UK/
cessfully raised production levels to the equiva- France) and Société Nationale des Hydrocarbu-
lent of 1.4mn tonnes per year (tpy). res (SNH), the national oil company (NOC) of
Golar LNG said in a statement on May 26 that Cameroon. Under that agreement, Perenco and
the FLNG had succeeded in bringing output up SNH were supposed to drill and appraise two or
from the equivalent of 1.2mn tpy. It also noted three new incremental wells in 2021 and then
that the vessel had preserved its four-year record upgrade upstream production facilities in 2022
of operating at 100% uptime, without any stop- so that they could sustain higher output levels
pages for accidents, in the first quarter of 2022. into 2023 and beyond.
The statement also noted that Golar LNG The Hilli Episeyo is the first vessel in the
had earned a total of $64mn from sales of the world to be converted to an FLNG unit. Accord-
LNG produced by the Hilli Episeyo in the Jan- ing to previous reports, the ship began its life as
uary-March period. Some $15.6mn of this sum one of Golar LNG’s 125,000-cubic metre tankers
came from the Brent crude-linked portion of the and was converted to an FLNG unit at the Kep-
LNG tariff, which applied to the bulk of sales, pel shipyards in Singapore at a cost of $1.2bn. It
while another $22.6mn derived from a tariff is anchored near the Cameroonian port of Kribi
linked to Dutch TTF market rates net of com- and has been in operation since May 2018.
modity swaps, which applied to the incremental The vessel liquefies gas from the Sanaga
rise in production, it said. field, which is being developed by Perenco and
All of the LNG that the Hilli Episeyo FLNG SNH. The partners pipe gas from the field to an
vessel produces goes to Russia’s Gazprom under onshore treatment facility for processing before
a long-term off-take agreement. That agreement delivering it to the FLNG vessel, which operates
gives the state-owned Russian giant access to one under an agreement that generates about $40mn
of the unit’s two active production trains, each of per quarter in tolling revenues.™
which has a capacity of 1.2mn tpy.

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