FLNG enters new age
Folks, I hate to spoil the fun but it’s not all roses. Hilli Episeyo is an old 125.000 m3 vessel. Most transport vessels are bigger than this which means that every time an LNGC comes to pick up a cargo, it has to remain moored for some days in order to fill up. In an honest calculation, this cost would be included. I am sure it’s not. That’s very distorting. Prelude might be on the super-expensive side but it would never have that problem. Besides, 1 bn USD per one mtpa capacity looks cheap when compared to the cost monsters in Australia, but LNG has already been done at half that price and below. Our target must be 250 MM USD per 1 mtpa capacity and floating is far from this. Why is nobody talking about this?
The successful deployment of Golar LNG’s Hilli Episeyo floating liquefied natural gas (FLNG) facility off Cameroon gives hope that further investment can now be enticed to a sector that has suffered its fair share of teething problems. Hilli Episeyo has been operational on the Kribi development, operated by French firm Perenco, since March and shipped its first cargo in May. By late August, the facility was preparing to offload its sixth cargo, Iain Ross, Golar’s chief executive, said on a second quarter results conference call. All four trains on the 1.2m tonnes a year (t/y) facility had been successfully tested at above nameplate capacity, though only two were currently being used, until Perenco is ready to supply more gas from Kribi, he said.
