Fortuna FLNG Terminal

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Fortuna FLNG Terminal is an LNG export terminal in Equatorial Guinea with units that are cancelled (confirmed) and shelved (inferred 2 y).

Location

Table 1: Location details

Name	Location	Coordinates (WGS 84)
First Proposal	off west coast of Bamako Is., Equatorial Guinea	3.2, 7.6 (approximate)
Second Proposal	off west coast of Bamako Is., Equatorial Guinea	3.2, 7.6 (approximate)

The map below shows the approximate location of the terminal:

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Project Details

Table 2: Infrastructure details

mtpa = million tonnes per year

Name	Facility type	Status	Capacity	Total terminal capacity	Offshore	Associated infrastructure
First Proposal	export	cancelled (confirmed)	2.5 mtpa	2.5 mtpa	True	block EG-27
Second Proposal	export	shelved (inferred 2 y)	–	2.5 mtpa	True	block EG-27

Table 3: Cost

Name	Facility type	Cost	Total known terminal costs
First Proposal	export	US$2,000,000,000	US$3,500,000,000
Second Proposal	export	US$1,500,000,000	US$3,500,000,000

Financing

No financing data available.

Table 4: Project timeline

FID = Final Investment Decision, used by some developers to indicate a project will move forward

Name	Facility type	Status	Proposal year	FID year	Construction year	Operating year	Inactive year
First Proposal	export	cancelled (confirmed)	2016	–	–	2022	2019 (cancelled)
Second Proposal	export	shelved (inferred 2 y)	2022	–	–	–	2025 (shelved)

Ownership

Table 5: Ownership

Name	Facility type	Status	Owners	Parent companies	Operator
First Proposal	export	cancelled (confirmed)	Golar LNG [33%]; Ophir Energy [33%]; Schlumberger [33%]	PT Medco Energi Internasional Tbk [33.8%]; Golar LNG [33.1%]; Schlumberger [33.1%]	–
Second Proposal	export	shelved (inferred 2 y)	unknown	unknown	–

Background

Original Project

In 2016, the UK-based oil & gas exploration company Ophir Energy and OneLNG (a joint venture of Norwegian LNG company Golar LNG and U.S. oilfield services company Schlumberger) developed a proposal to build a floating liquefied natural gas (FLNG) terminal in Equatorial Guinea's Block R, off the southwest coast of Bamako Island. The terminal would consist of four production trains, and have a capacity of 2.5 million tons per year (mtpa), or 0.36 billion cubic feet per day (bcfd). It was expected to start production in 2020.

Block R contains a total of 2,600 billion cubic feet of gas. The project would cost $2 billion.

In May 2017, the three sponsoring companies signed an agreement with GEPetrol (Compañía Nacional De Petróleos De Guinea Ecuatorial), Equatorial Guinea's state-owned oil & gas company, establishing a legal framework for the project. Under the agreement, Equatorial Guinea has the right of ownership of up to 30% in the FNLG vessel. Also in May, Ophir awarded the construction contract for conversion of the LNG vessel Gandria to the Keppel Corporation's shipyard in Singapore. The project's sponsors were still negotiating with Chinese lenders; once those negotiations were finished, the sponsors hoped to issue their final investment decision (FID).

In March 2018, Ophir postponed the project commissioning from 2020 to 2022 due to the withdrawal of the three Chinese banks that should 60% of the money required for financial closure of the project.

The project ran into further trouble in May of 2018 after U.S. oil services company Schlumberger pulled out of the venture.

In January 2019, the project was officially cancelled. According to the Petroleum Economist, reasons for the cancellation were two-fold. First, Equatorial Guinea decided not to extend Ophir Energy's license on offshore block R, essentially cancelling the project. Equatorial Guinea's energy ministry made it clear they were running out of patience with Ophir and pulled the plug. Second, Ophir is currently in talks about a possible takeover by Indonesia's Medco Energi. The company was unable to overcome the financing vacuum left by the failure to strike a deal with Chinese backers in 2017-2018. The problem was compounded by the mid-2018 departure of Schlumberger from the Fortuna venture and OneLNG.

Re-proposed Project

In November 2019 Lukoil was awarded block EG-27, formerly named Block R. This was the same license formerly held by Ophir Energy for the development of the FLNG project. Ophir ran out of time for its plans to commercialize the gas resource and lost the license at the end of 2018.

In March 2022, Upstream reported that New Fortress Energy and Golar LNG were seeking to develop block EG-27. It was unclear if Lukoil is still a partner in the project.

In January 2023, Upstream reported that Kosmos was under consideration by Equatorial Guinea's government to lead the project.

Equatorial Guinea's government was once again in talks with Golar LNG as of September 2023, with no progress since.

As of 2025, there have been no updates in two years and the project is presumed to be shelved.

Articles and Resources

Additional data

To access additional data, including an interactive map of LNG terminals, a downloadable dataset, and summary data, please visit the Global Gas Infrastructure Tracker on the Global Energy Monitor website.