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>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 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

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

LNG Pricing, Trading & Hedging Singapore

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

read more >

LNG Pricing, Trading & Hedging Houston

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

read more >

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >