Africa’s first floating LNG project

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Africa’s first floating LNG project

Golar to start Africa’s first floating LNG project in Cameroon

London-based LNG company Golar LNG Ltd announced it had entered an agreement with Societe Nationale de Hydrocarbures Cameroon (SNH) and Perenco Cameroon for the development of a floating liquefied natural gas export project located 20 kilometers off the coast of Cameroon and utilizing Golar’s floating liquefaction technology.

The agreement is premised on the allocation of 500 bcf of natural gas reserves from offshore Kribi fields, which will be exported to global markets via the GoFLNG facility Golar HIlli, now under construction at the Keppel Shipyard in Singapore.

Golar, which is listed on the Oslo Stock Exchange and NASDAQ, will provide the liquefaction facilities and services under a tolling agreement to SNH and Perenco as owners of the upstream joint venture who also intend to produce LPG’s for the local market. It is anticipated that the allocated reserves will be produced at the rate of some 1.2 million tonnes of LNG per annum over an approximate eight year period.

It is expected that during the first half of 2015, definitive commercial agreements will be executed and necessary licenses and approvals secured for the production, liquefaction, and export of the reserves. Production is set to commence in the first half of 2017. This will be the first floating LNG export project in Africa and will see Cameroon joining the small number of LNG exporting nations.

Source: Central African Business

More Info: http://tinyurl.com/kkc7fj9

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.