Equatorial Guinea-Keppel Corporation plans FLNG storage facility
February 5, 2014 | Singapore
Equatorial Guinea's Energy Minister has stated that the country is in talks with Singapore's Keppel Corporation Limited to construct a floating liquefied natural gas (FLNG) storage facility with a planned capacity of 2.5 million tonnes per annum (mtpa). Should the project materialise, Equatorial Guinea would be the first country in Africa to have an FLNG storage facility. The bulk of the investment will come from the Equatorial Guinea government, Keppel Corporation, and a undisclosed third party. Production at the facility could commence in 2016. At present, Equatorial Guinea has an LNG terminal with a capacity of 3.4 mtpa at Punta Europa. The ownership of the facility is split between US-based Marathon Oil Corporation (60 per cent) and state oil company GE Petrol, in which Japanese companies Mitsui & Co. and Marubeni Corporation hold a controlling stake.
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