Kosmos Energy Announces First LNG at the Greater Tortue Ahmeyim Project in Mauritania and Senegal
February 10 2025 - 2:00AM
Business Wire
Kosmos Energy (NYSE/LSE: KOS) today announces that first
liquified natural gas (LNG) production has been achieved at the
bp-operated Greater Tortue Ahmeyim (GTA) LNG project, offshore
Mauritania & Senegal.
On December 31, 2024, gas from the first phase of GTA started to
flow from wells to the floating production storage and offloading
(FPSO) vessel as part of the commissioning process. At the FPSO,
gas is being processed to remove any condensate, water and
impurities ahead of delivery to the floating LNG vessel for
liquefaction.
Gas has now been delivered to the floating LNG vessel and
liquefaction has commenced. The liquefaction of gas into LNG is
when Kosmos starts to recognize gas entitlement production from the
project in its quarterly statements. In addition, bp has given
notice to the offtaker (bp gas marketing ltd.) for an LNG carrier
to arrive later this quarter to export the first LNG cargo. Lifting
of the first LNG cargo is when Kosmos starts to recognize revenue
and generate cash flow from the project.
Commenting on first LNG production at GTA, Chairman and Chief
Executive Officer Andrew G. Inglis said: “First LNG is another
major milestone for Kosmos, the GTA partnership and the governments
of Mauritania and Senegal. We are looking forward to the
accelerated ramp-up of LNG production and the first LNG cargo
lifting during the first quarter.”
About Kosmos Energy
Kosmos Energy is a leading deepwater exploration and production
company focused on meeting the world’s growing demand for energy.
We have diversified oil and gas production from key assets offshore
Ghana, Equatorial Guinea, Mauritania, Senegal and the U.S. Gulf of
Mexico. Additionally, in the proven basins where we operate we are
advancing high-quality development opportunities, which have come
from our exploration success. Kosmos is listed on the New York
Stock Exchange and London Stock Exchange and is traded under the
ticker symbol KOS. As an ethical and transparent company, Kosmos is
committed to doing things the right way. The Company’s Business
Principles articulate our commitment to transparency, ethics, human
rights, safety and the environment. Read more about this commitment
in the Kosmos Sustainability Report. For additional information,
visit www.kosmosenergy.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. All statements,
other than statements of historical facts, included in this press
release that address activities, events or developments that Kosmos
expects, believes or anticipates will or may occur in the future
are forward-looking statements. Kosmos’ estimates and
forward-looking statements are mainly based on its current
expectations and estimates of future events and trends, which
affect or may affect its businesses and operations. Although Kosmos
believes that these estimates and forward-looking statements are
based upon reasonable assumptions, they are subject to several
risks and uncertainties and are made in light of information
currently available to Kosmos. When used in this press release, the
words “anticipate,” “believe,” “intend,” “expect,” “plan,” “will”
or other similar words are intended to identify forward-looking
statements. Such statements are subject to a number of assumptions,
risks and uncertainties, many of which are beyond the control of
Kosmos, which may cause actual results to differ materially from
those implied or expressed by the forward-looking statements.
Further information on such assumptions, risks and uncertainties is
available in Kosmos’ Securities and Exchange Commission (“SEC”)
filings. Kosmos undertakes no obligation and does not intend to
update or correct these forward-looking statements to reflect
events or circumstances occurring after the date of this press
release, except as required by applicable law. You are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. All
forward-looking statements are qualified in their entirety by this
cautionary statement. Management does not provide a reconciliation
for forward looking non GAAP financial measures where it is unable
to provide a meaningful or accurate calculation or estimation of
reconciling items and the information is not available without
unreasonable effort. This is due to the inherent difficulty of
forecasting the occurrence and the financial impact of various
items that have not yet occurred, are out of our control or cannot
be reasonably predicted. For the same reasons, management is unable
to address the probable significance of the unavailable
information. Forward looking non GAAP financial measures provided
without the most directly comparable GAAP financial measures may
vary materially from the corresponding GAAP financial measures.
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version on businesswire.com: https://www.businesswire.com/news/home/20250209720700/en/
Investor Relations Jamie Buckland +44 (0) 203 954 2831
jbuckland@kosmosenergy.com
Media Relations Thomas Golembeski +1-214-445-9674
tgolembeski@kosmosenergy.com
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