Kosmos confirms commercial operations date reached for Golar’s FLNG Gimi

Kosmos Energy (KOS) noted the announcement by Golar LNG (GLNG) that the FLNG Gimi has reached Commercial Operations Date for the 20-year Lease and Operate Agreement with BP for the Greater Tortue Ahmeyim project offshore Mauritania and Senegal. The announcement of COD marks a significant milestone for the project partners, as LNG production volumes have been ramped up to a level equivalent to the annual contracted volumes of approximately 2.4 million tonnes per annum, or around 90% of nameplate capacity of 2.7mtpa. The achievement of COD follows first LNG in February and the first LNG cargo in April. The second and third LNG cargo were exported in May and early June respectively and a fourth cargo is currently loading. The fifth cargo is expected at the start of the third quarter. With this expected cargo timing, Kosmos forecasts 3.5 gross cargos in the second quarter.