FLNG Gimi receives first gas shipment

Full commissioning of the FLNG has now commenced. Prior to achieving this key milestone, gas from the LNG carrier British Sponsor was being used to undertake advanced commissioning work. Receipt of gas from the FPSO allows the full commissioning activity to ramp up. The first LNG export cargo is now expected within 1Q25, and full Commercial Operations Date (COD) is expected within 2Q25, subject to all conditions being met.

First gas to the FLNG will result in the final upward adjustment to the Commissioning Rate under the commercial reset agreed in August 2024. COD will trigger the start of the 20 year Lease and Operate Agreement that unlocks the equivalent of around US$3 billion of Adjusted EBITDA Backlog (Golar's share) and recognition of contractual payments comprised of capital and operating elements in both the balance sheet and income statement.

Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/22012025/flng-gimi-receives-first-gas-shipment/