Golar LNG
This week, the Nigerian national oil company NNPC announced that it has signed a project development agreement (PDA) with Golar to develop 400-500 mmcf/d of gas for floating LNG to be online by the end of 2027 with first cash flows in early 2028 (assuming – it’s a big IF – that everything goes according to schedule). This means that due to both gas needs and timings, it looks like the 3.5 MTPA Mark II will be the one placed here. Golar Hilli would be a bit tight on requirements and would mean being idle for more than a year, which we understand is not the goal given other opportunities. This is the next step after the MOU and the Joint Development announcement they signed exactly a year ago and seems to be the last before announcing the FID, which is expected in 4Q24. The agreement did state that production would include LNG, LPG, and condensate, which means there will need to be other players to help handle and consume/export the LPG and condensate.
To briefly recap what has happened in recent months,