Venezuela and Bermuda player in talks over potential FLNG tech investment

Bermuda-headquartered owner and operator of LNG midstream infrastructure Golar LNG is engaged in discussions with the Venezuelan ministry regarding a potential investment in FLNG technology in the South American country, which spotlights the firm’s interest in leveraging Venezuela’s vast natural gas resources

These discussions aim to harness Venezuela’s extensive natural gas reserves, enhancing the nation’s LNG processing and exportation capacity. According to Golar, this initiative marks “a significant step” in its strategic efforts to expand its energy solutions and explore the opportunities for deploying FLNG technology within Venezuela’s energy sector.

The Bermuda-based firm highlights that its FLNG technology promises “a sustainable and efficient method for liquefying and transporting natural gas, offering a path to elevate Venezuela’s position in the global LNG market.”

The company is also making progress on its existing projects. Recently, Golar LNG’s FLNG Gimi arrived at BP’s  Greater Tortue Ahmeyim (GTA) liquefied natural gas (LNG) project off the coasts of Mauritania and Senegal, after departing Singapore’s Seatrium shipyard on November 19, 2023.

The vessel was converted from a 1976-built Moss LNG carrier to a floating LNG production unit. The GTA development’s first phase is slated to produce around 2.3 million tons of LNG per year. The launch of the project is slated for 1Q 2024.