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Golar LNG Ltd.

Golar LNG Limited Achieves Commercial Operations Date for FLNG Gimi

Strategic Insights

— 2 min read

Golar LNG Limited has reached the Commercial Operations Date (COD) for its 20-year Lease and Operate Agreement for the Greater Tortue Ahmeyim (GTA) project offshore Mauritania and Senegal, marking a major achievement in one of Africa's deepest offshore developments. The project introduces Mauritania and Senegal as LNG exporters and unlocks the equivalent of around $3 billion of Adjusted EBITDA backlog for Golar. The COD milestone triggers the start of the 20-year Lease and Operate Agreement, which will be executed with the GTA operator bp and its partners Kosmos, PETROSEN, and SMH, as well as the Mauritanian and Senegalese authorities. Golar is looking forward to continuing its collaboration with these parties to deliver safe and reliable operations and create value for all stakeholders.

Key Takeaways:

  • The FLNG Gimi has achieved the Commercial Operations Date (COD) for the 20-year Lease and Operate Agreement for the Greater Tortue Ahmeyim (GTA) project offshore Mauritania and Senegal.
  • The project introduces Mauritania and Senegal as LNG exporters, making them significant players in the global LNG market.
  • The Cod triggers the start of the 20-year Lease and Operate Agreement, unlocking the equivalent of around $3 billion of Adjusted EBITDA backlog for Golar.
  • Golar is accelerating work on its next FLNG unit(s) following the achieved COD and announcement of the two FLNG charters in Argentina on May 2, 2025.
  • Golar is advancing commercial discussions, with charterer demand guiding design choice of the fourth FLNG unit.
  • The company has signed a final engineering study to confirm EPC price and delivery for a 5mtpa MKIII FLNG and is updating price and schedule for an up to 2.7mtpa MKI FLNG.
  • Golar anticipates delivering safe and reliable operations and creating value for all stakeholders, including bp, Kosmos, PETROSEN, SMH, Mauritanian, and Senegalese authorities.
  • Golar has secured significant investment and is poised to capitalize on the growing demand for LNG in the global market.

Statistics:

  • The FLNG Gimi project has a 20-year Lease and Operate Agreement, unlocking the equivalent of around $3 billion of Adjusted EBITDA backlog.
  • The project introduces Mauritania and Senegal as LNG exporters, marking a significant milestone in the global LNG market.
  • Golar has accelerated work on its next FLNG unit(s), with commercial discussions in progress.
  • The company has signed a final engineering study to confirm EPC price and delivery for a 5mtpa MKIII FLNG.
  • Golar is updating price and schedule for an up to 2.7mtpa MKI FLNG.
  • The FLNG Gimi project has a significant investment component, with the potential for substantial returns.

Sources:

  • Golar LNG Limited, "Golar LNG Limited Announces Achievement of Commercial Operations Date for FLNG Gimi" (June 23, 2025)
  • COMTEX_466600342/2241/2025-06-23T06:12:38 (Copyright (C) 2025 GLOBE NEWSWIRE)

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