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BP, Kosmos and Golar take FID on Tortue FLNG in Mauritania/Senegal

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21 December 2018

BP, Kosmos and Golar take FID on Tortue FLNG in Mauritania/Senegal

Report summary

For all concerned, achieving FID in such a fast time-scale is a huge success. Prioritising a first phase, with limited initial capex, mitigates cost risk and delivers cash to shareholders and governments sooner. By sanctioning the project now, BP is benefiting from the substantial cost deflation of recent years. This is important because returns on Phase 1 look marginal. But the real value for the project, will be if BP and partner Kosmos are able to move forwards with expanding the facility with Phase 2&3 in quick succession. Creating a new LNG hub in the Atlantic basin.

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    BP, Kosmos and Golar take FID on Tortue FLNG in Mauritania/Senegal

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