The Greater Tortue Ahmeyim (GTA) gas reserves remain subject to persistent uncertainty, with ongoing disputes over the actual gas initially in place (GIIP) and a limited understanding of the full extent of the subsurface geo-bodies and prospects. Nonetheless, industry estimates place the GIIP between 15 and 25 trillion cubic feet (Tcf).
Now, Operators and host countries certainly would have come to better understanding that there is more gas that they don’t know what to do with it…
Floating LNG (FLNG) solutions are often best suited for remote, stranded, or medium-scale gas reserves in the 1–3 Tcf range. This does not apply to GTA, which is a large-scale asset and could have supported a multi phase development plan with significant economies of scale.
Hilli Episeyo, the world’s first converted FLNG vessel, has a nameplate capacity of 2.45–2.7 million tonnes per annum (MTPA). It is fully owned by Golar LNG and is currently under a long-term agreement (LTA) with Eni for the export of LNG from offshore Cameroon. This contract is set to expire in 2026.
Under the current LTA, Hilli Episeyo delivers 1.4–1.6 MTPA, well below its full production capacity. This underutilization presents a strategic opportunity, particularly as the asset becomes available for redeployment post-2026.
Meanwhile, Golar LNG also holds a 70% ownership stake in the Gimi FLNG, which is under an LTA with BP for GTA Phase 1.
For GTA Phase 2, fast-tracking an additional 2.4 MTPA capacity by 2026 using the Hilli Episeyo could have been a highly cost effective and timely option. Engaging Golar LNG to deploy Hilli at GTA would have increased LNG monetization while enhancing revenues for both Mauritania and Senegal.
Currently, the LTAs for Hilli and Gimi combined are estimated to generate approximately $220 million per year in revenue for Golar LNG and its partners. This underscores the financial viability of using FLNG assets for modular gas field development.
However, the future of GTA Phase 2 remains uncertain especially if the opportunity to redeploy Hilli Episeyo is lost to other competing projects. Notably, South American Stream Energy (SASE) is reportedly negotiating to deploy Hilli to Argentina starting in 2027 under a 20-year agreement.
During their recent joint visit to the GTA Hub ahead of the official COD (Commercial Operations Date) announcement, the Presidents of Mauritania and Senegal voiced a shared intention to move GTA Phase 2 forward. This is especially relevant considering that cash flows from Phase 1 are reportedly limited, and the project has faced multiple disputes and delays.
In this context, securing an LTA with Golar LNG for Hilli Episeyo could have been one of the most cost-effective and time-efficient ways to ensure Phase 2 progresses, avoiding a lengthy and expensive greenfield development.
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