Fortuna Equatorial Guinea FLNG project

From Global Energy Monitor
This article is part of the Global Fossil Infrastructure Tracker, a project of Global Energy Monitor.

Fortuna FLNG project is a floating LNG terminal under development off the coast of Equatorial Guinea.


This map shows the approximate location of Block R, the location of the FLNG project, in territorial waters of Equatorial Guinea.

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Project Details

  • Owner: Ophir Energy (33.8%), Golar LNG (33.1%), Schlumberger (33.1%)
  • Location: Block R, Equatorial Guinea
  • Coordinates: 3.2, 7.6 (approximate)
  • Capacity: 2.5 mtpa, 0.36 bcfd
  • Status: Cancelled[1]
  • Start Year: 2020

Note: mtpa = million tonnes per year; bcfd = billion cubic feet per day


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) are currently developing 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 will 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 is expected to start production in 2020.[2]

Block R contains a total of 2,600 billion cubic feet of gas. The project would cost $2 billion.[2][3][4]

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.[5] The project's sponsors were still negotiating with Chinese lenders; once those negotiations are finished, the sponsors hope to issue their final investment decision (FID).[6]

The project, which has been bogged down by delayed financing since its inception, ran into further trouble in May of 2018 after U.S. oil services company Schlumberger pulled out of the venture.[7]

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.[1]

Articles and resources


  1. 1.0 1.1 Ophir’s Fortuna FLNG finally bites the dust, Petroleum Economist, January 11, 2019
  2. 2.0 2.1 Fortuna FLNG brochure, Ophir Energy website, accessed June 2017.
  3. Fortuna FLNG, Ophir Energy website, accessed June 2017.
  4. The LNG Industry: Annual Report 2017, International Group of Liquefied Natural Gas Importers, accessed June 2017.
  5. Golar commissions Keppel for Fortuna FLNG vessel conversion, Offshore, 10 May 2017.
  6. Fortuna FLNG umbrella agreement signed, LNG World News, 2 May 2017.
  7. Sabina Zawadzki,Equatorial Guinea LNG project stumbles as Schlumberger quits, Reuters, MAY 31, 2018

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