Upstream oil company Kosmos Energy will collaborate with Senegal’s government and National Oil Company, Petrosen to develop an offshore Liquefied Natural Gas (LNG) facility for the country’s flagship Yakaar-Teranga gas project. The development concept will focus on the delivery of cost-competitive gas to Senegal’s domestic market combined with exports to international markets.
Serving as one of the world’s largest gas discoveries in recent years and holding an estimated 25 trillion cubic feet of natural gas in place, the LNG facility is poised to produce approximately 550 million cubic feet of gas per day. Domestic gas will be transported via a pipeline while export volumes will be liquefied on a Floating LNG vessel.
“The project is expected to deliver LNG export volumes to global markets, further establishing Senegal as an important and reliable supplier of energy to the world,” stated Kosmos Energy Chairman and CEO, Andrew G. Inglis.
The concept for the facility development project is currently being optimized to meet domestic and international LNG requirements. Once the concept optimization has finished, the project will move into the Front-End Engineering Design phase.
“Yakaar-Teranga is a strategic project and a key asset for the government’s ‘Gas-to-Power’ and ‘Gas-to-Industry’ initiatives, which aim to provide affordable, abundant, and cleaner energy as part of the country’s ‘Plan Sénégal Emergent’,” stated Petrosen Director General for the Upstream, Thierno Seydou Ly.
The announcement comes as Kosmos Energy assumes operatorship of the Yakaar-Teranga gas project – subject to government approvals –, increasing its working interest to 90% following oil and gas supermajor, BP’s, exit from the field in early-November 2023. The remaining 10% interest in the project is held by Petrosen.