“In addition, the project is expected to deliver LNG export volumes to global markets, further establishing Senegal as an important and reliable supplier of energy to the world.”
The FPSO is on its way to West Africa, the CEO said, while the FLNG facility should leave Singapore by the end of 2023. According to Marine Traffic, the FPSO is today offshore Maputo.
Kosmos will consider its options this year. Inglis said it would be likely that the second phase would have some element of fixed contract and spot pricing. “We will not have to have sold all the gas” at final investment decision (FID), he said.
BP and Kosmos Energy will present a plan of development for the Yakaar-Teranga this year and reach a final investment decision, a Senegalese official has said.
Kosmos Energy is taking steps to ramp up production by 50% by 2024 – and in the longer term scale up its West African gas projects.
Senegal will join the Gas Exporting Countries Forum (GECF) today as an observer, before graduating to full membership next year with the start of LNG exports.
Senegal is positioning itself as an alternative source of gas for Europe as Russia cuts supplies of the fuel.
Kosmos Energy is generating free cash flow at unprecedented volumes, allowing it to pay down debt, and has been talking up LNG.