Project Details
Description
Transoceanic Gas & Power Limited is thrilled to present the Transoceanic FLNG Project, which aims to develop over 3MTPA of LNG. The feedstock for the project will be sourced from multiple fields located in the swamp and shallow water regions close to OPL 289 and other proximal gas-rich assets. The NPV(10) for this project is expected to exceed $1 Billion, and it benchmarks excellently with other similar projects in Africa. We have developed an integrated model that ensures sufficient gas feedstock for Phase 1 and Phase 2 of the project, as well as a possible expansion. The model will help derisk upstream gas resourcing, and we guarantee at least 7 TCF of gas supply.
The midstream products expected from the project include LNG, LPG, and condensates. The LNG will be marketed through medium to long-term contracts, targeting critical gas shortages in Europe and potentially replacing Russian gas. We will supply 50MMSCFd of treated gas to Phase 1 of the floating power barge. The condensates will be sold based on fixed-term and spot market oil markets, and exports will go through the most proximal terminal. We will assess opportunities for a direct contract with a refinery. LPG will be distributed locally, and excess LPG will be distributed across West Africa to provide direct import substitution and reduce the cost of domestic cooking gas.
At Transoceanic Gas & Power Limited, we are committed to delivering a profitable and sustainable project that contributes to the energy security of the region and reduces carbon emissions. We believe that this project will create significant value for all stakeholders, and we look forward to collaborating with partners and communities to achieve our vision.
The Transoceanic FLNG project has access to guaranteed feedstock supply for over 7TCF of gas from OPL 289 and other gas-rich assets. This gas will be processed through the midstream facility to produce LNG, LPG, and condensates. The LNG will be marketed through medium to long-term fixed contracts, targeting local Power Barges and critical gas shortages in Europe, with the pivot from Russian gas.