Golar LNG Limited (Golar) has announced a significant milestone: its Floating Liquefied Natural Gas (FLNG) unit, Gimi, has successfully offloaded its first full cargo of LNG to the LNG carrier British Sponsor, reports Globe Newswire.
Global Gas Market
This event marks the entry of Mauritania and Senegal into the global gas market and triggers the final pre-Commercial Operations Date (COD) bonus payment to Golar, as per the commercial reset agreement established in August 2024. The commissioning process for FLNG Gimi remains on schedule for a Commercial Operations Date (COD) in the second quarter of 2025.
Achieving COD will activate the 20-year Lease and Operate Agreement, unlocking an estimated $3 billion of Adjusted EBITDA backlog (Golar’s share). This will also lead to the recognition of contractual payments, encompassing both capital and operating components, in Golar’s balance sheet and income statement.
Did you subscribe to our daily Newsletter?
It’s Free Click here to Subscribe!
Source: Globe Newswire
