Golar LNG achieves $76m profit from strong Cameroon performance in Q1 2020

  • Post Author:
  • Post Category:Trending
  • Post Comments:0 Comments

Project partner Floating LNG in Kribi, in Cameroon, the company Golar LNG has seen its profit before EBITDA increased to $ 76 million in 1 st quarter 2020 thanks to a strong performance of the FLNG Hilli Episeyo .

Golar LNG Ltd company listed on Oslo Stock Exchange, and one of the operators of the floating liquefied natural gas (LNG) in Kribi in southern Cameroon, made a big performance in 1 st quarter 2020, information revealed by the National Hydrocarbons Corporation (SNH), partner of the project in Kribi, indicates Business in Cameroon .

According to SNH, Golar achieved earnings before interest, taxes and depreciation of 76.2 million USD (42.24 billion FCFA), “  thanks to a solid performance of FLNG Hilli Episeyo  ”, in the 1 st quarter of 2020.

At the same time, Golar posted operating revenues of 122.6 million USD (67.96 billion FCFA) during the period under review.

Gas production really took off in Cameroon in May 2018, following the launch of LNG exports, thanks to the installation of a floating plant off Kribi. A true technological feat, it has enabled Cameroon to join the inner circle of gas exporting countries.

The Floating LNG project in Kribi enables SNH, Golar and Perenco, partners of the Sanaga-Sud association, to annually produce 1.2 million tonnes of liquefied natural gas for export, 30,000 tonnes of domestic gas for Cameroonian households and 5,000 barrels of condensate per day.


Source: Agence Ecofin

The post Golar LNG achieves $76m profit from strong Cameroon performance in Q1 2020 appeared first on Energy News | Oil and Gas News.

Spread the love

Leave a Reply