BP Signs Offtake Deal for Tortue LNG

BP has agreed to buy the LNG produced from the first phase of its Greater Tortue Ahmeyim (GTA) project off the coast of Mauritania and Senegal, its Texas-based venture partner Kosmos Energy said on February 12.

The UK major has signed a 20-year sales and purchase agreement for the 2.45mn mt/yr of supplies with the GTA consortium, which includes BP, Kosmos, Senegal’s Petrosen and Mauritania’s SMPHM.

Describing the deal as a “milestone,” Kosmos reiterated that GTA was on track to yield its first gas in the first half of 2022. A final investment decision (FID) was taken on the project’s first 2.5mn mt/yr phase in December 2018. Its second and third phases, which will each produce 3.7mn mt/yr of LNG, are expected to be sanctioned later this year.

Following the signing of the offtake contract with BP, Kosmos said it had booked an extra 100mn barrels of oil equivalent of proven reserves, bringing its total to around 268mn boe, up from only 167mn boe at the end of 2018. Its proven and probable reserves are assessed at 552m boe.