Etinde FLNG Terminal

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

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Etinde FLNG Terminal is a proposed LNG export terminal offshore of Cameroon.

Location

The terminal is located offshore of Cameroon, over the Etinde gas field.

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Project Details

• Owner: New Age (African Global Energy)(37.5%), Lukoil (37.5%), Bowleven (25%)
• Location: offshore Cameroon
• Coordinates: 4.0237344, 8.903989 (approximate)
• Type: Export
• Capacity: 1.3 mtpa
• Cost: 500 million USD
• Status: Proposed
• FID: Pre-FID (2022)(delayed)
• Start Year: 2023 (delayed)

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

Background

The project may include wellhead platforms tied back to an onshore gas processing plant based in Limbe, Cameroon. Potential scenarios include a tieback to the Punta Europa LNG Terminal and Methanol onshore plant on Bioko Island in Equatorial Guinea, or using the Golar LNG-owned Cameroon FLNG project which operates at Perenco's Cameroon FLNG project, or using a new near shore small scale FLNG, being called Etinde FLNG Terminal. The Cameroon government has sanctioned the Etinde FLNG Terminal, but this option would require additional gas sources to be economically viable in the longer term. The Etinde Exploitation Authorisation (EA) includes a right for the government to terminate the EA early if development plans are not implemented by January 2021. New Age operates Etinde with a 37.5% working interest. Bowleven and Lukoil are partners with a 25% and 37.5% working interest, respectively.

The final investment decision (FID) was originally expected in the end of 2020, but has been delayed until the end of 2021.

In March 2022, Energy Voice reported that the FID had been delayed once again to late 2022, citing the COVID-19 pandemic and resulting market volatility, and that the developers were considering exporting gas from the project via Equatorial Guinea. In April 2022 Upstream reported that sanctions targeting Russia's Lukoil were also complicating development.

In June 2022, a deal was announced under which Perenco will take over New Age's stake in the Etinde JV.

As of July 2023, the ownership change from New Age to Perenco was still pending.

In November 2023, Pereco had still not bought New Age's stake in the project, and Bowleven was reportedly seeking capital to maintain operations in anticipation of the change in operator. A barrier to the sale is government approval, which is expected in late 2023 or early 2024.