Page 16 - AfrOil Week 28 2020

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PROJECTS & COMPANIES AfrOil
CAMEROON
BERMUDA-BASED Golar LNG has reported that the Hilli Episeyo, the rst vessel in the world to be converted to a oating LNG (FLNG) unit, has reached the milestone of li ing its 40th cargo o shore Cameroon.
According to the company, the FLNG n- ished loading its latest cargo on June 18. e shipment went to Russia’s Gazprom, which is the off-taker of LNG from the facility under an eight-year agreement that is due to expire in 2026.
e Hilli Episeyo was converted to liquefy gas from the Sanaga eld, which is being developed by Perenco (UK/France) and Société Nation- ale des Hydrocarbures (SNH), the national oil company (NOC) of Cameroon. e partners send gas from the eld to an onshore treatment facility for processing before delivering it to the FLNG unit.
The vessel began producing LNG in May 2018 and has been turning out 1.2mn tonnes per year (tpy) from one of its two production trains. To date, it has maintained 100% up-time and has
produced more than 2.5mn tonnes of LNG. The Hilli Episeyo has loaded 11 of its 40 cargoes onto tankers owned by Golar LNG – namely, the Golar Maria, the Golar Viking and
the Nanook.
e vessel could eventually see output double
to 2.4mn tpy, as Golar LNG has held talks with Perenco and SNH on the possibility of activating the Hilli Episeyo’s second production train. is is not likely to happen in the near future, though, as the coronavirus (COVID-19) pandemic has reduced global fuel demand.
e FLNG is operating under a tolling agree- ment. It generates about $40mn per quarter in tolling revenues, with Golar LNG receiving 50% of the total and its NASDAQ-listed a liate Golar LNG Partners receiving the other 50%, in line with the terms of a drop-down deal nalised in 2018.
e Hilli Episeyo began its life as one of Golar LNG’s 125,000-cubic metre tankers. It was con- verted to an FLNG unit at the Keppel shipyards in Singapore at a cost of $1.2bn.™
Nigeria is heavily reliant on fuel imports, as its own main refineries are loss-making and in need of re-pair and modernisation. Dangote’s project is the only major new refinery being built, with an invest-ment cost exceeding $12bn. Due for completion by the end of 2022, it will be the world’s largest single-train re nery upon commissioning, boasting a 650,000 bpd oil distillation unit, a 3.5mn tonne per year poly- propylene unit, a 3mn tpy urea unit, and gas processing capabilities.
According to Sulzer, the re nery’s process- ing units will contain more than 65 columns needing more than 15 static mixers. e major
units include a residue uid catalytic cracker, a mild hydrocracker, an alkylation unit, a naphtha hydro ning unit, and catalytic reforms for the production of Euro-5 stand-ard gasoline and diesel, as well as jet fuel.
State-owned Nigerian National Petroleum Corp. (NNPC) also wants to build a 200,000 bpd condensate re nery to help Nigeria with its fuel issues. Private developers are also building small-sized modular re neries.
NNPC also wants to revamp its existing re neries in Kaduna, Port Harcourt and Warri, so that they can operate at profit, but first it needs investors. ™
Golar LNG’s FLNG vessel loads 40th cargo offshore Cameroon
The Hilli Episeyo FLNG has already produced more than 2.5mn tonnes of LNG (Photo: Golar LNG)
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w w w . N E W S B A S E . c o m Week 28 15•July•2020