Schlumberger quits OneLNG JV and Fortuna FLNG project

Schlumberger quits OneLNG JV and Fortuna FLNG projectIllustration purposes only (Image courtesy of Ophir Energy)

Liquefied natural gas shipper, Golar LNG said its OneLNG partner Schlumberger decided to end involvement in Fortuna FLNG project in Equatorial Guinea, resulting in the dissolution of the joint venture. 

In its quarterly report, Golar LNG said that the decision was influenced by the inability of the Fortuna FLNG project leader Ophir and OneLNG to finalize a debt financing package, as well as other capital and resource priorities.

Golar and Schlumberger, as a result of this, and based on the structure of the BP project, plan to wind down OneLNG and work on FLNG projects as required on a case-by-case basis.

Ophir Energy added that Golar and Ophir remain actively engaged in senior level discussions with a number of counterparties over a financing solution for the project.

The company has already held informal discussions with other, well-capitalized, potential partners for the Fortuna project.

“Following the announcement re. OneLNG we have now formalized discussions and are actively moving forward with them,” Ophir said.

 

Share this article

Follow LNG World News

Events>

<< May 2019 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

LNG Pricing, Trading & Hedging Houston

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >

GIE Annual Conference 2019

The French gas infrastructure operators ELENGY, GRTgaz and Storengy are looking forward to be your hosts in 2019.

read more >

LNG Pricing, Trading & Hedging London

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >