Kosmos Energy Notes Milestone Achievement at Greater Tortue Ahmeyim LNG Project

January 02, 2025 06:27 PM AEDT | By Team Kalkine Media

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Kosmos Energy Notes Milestone Achievement at Greater Tortue Ahmeyim LNG Project — Image source: Shutterstock

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Highlights

First Gas Production Achieved: Gas from the first phase of the GTA project began flowing on December 31, 2024, to the floating production storage and offloading (FPSO) vessel, marking a critical step towards full LNG production.

Phase 1 LNG Production: Once fully operational, GTA Phase 1 is expected to produce 2.3 million tonnes of LNG per annum (mtpa), with the floating LNG vessel having a capacity of approximately 2.7 mtpa.

Revenue Recognition Expected in Q1 2025: The first LNG cargo is anticipated in the first quarter of 2025, marking the beginning of revenue recognition from the project.

Kosmos Energy (LSE:KOS) has acknowledged the announcement from bp plc, the operator of the Greater Tortue Ahmeyim (GTA) liquefied natural gas (LNG) project, confirming the successful start of gas production offshore Mauritania and Senegal.

The successful flow of gas to the FPSO vessel on December 31, 2024, is a key milestone in the development of the GTA LNG project, which aims to position Mauritania and Senegal as a strategic LNG production hub in West Africa. The GTA Phase 1 project, once fully commissioned, will significantly contribute to the region's LNG output.

The partnership, alongside the governments of Mauritania and Senegal, is optimistic about the prospects of the GTA project as it progresses toward full LNG production. The first LNG cargo is anticipated to be delivered in the first quarter of 2025, with revenue from the project set to begin following that milestone. This development marks a major achievement for the project, the companies involved, and the countries of Mauritania and Senegal.

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