Harbour Energy confirmed it has signed a participation agreement with Pan American Energy and Golar LNG to acquire a 15% interest in Southern Energy SA, a company which is planning to develop a floating liquefied natural gas (FLNG) export project in Argentina.
The proposed project involves deploying Golar’s existing ‘Hilli Episeyo’ FLNG vessel off the coast of the Rio Negro province. The vessel will have production and export capacity of 2.45 million tonnes per year of LNG, equivalent to 11.5 million cubic metres per day (or 0.4 billion cubic feet per day) of natural gas. It is anticipated that the upstream partners in Southern Energy will supply the natural gas for the FLNG project, enabling Harbour’s Vaca Muerta natural gas to access global LNG export markets and international natural gas prices. Southern Energy has submitted the FLNG project to the Argentinian incentive regime for large investments, ‘RIGI’ (Régimen de Incentivo para Grandes Inversiones).
Harbour’s participation in Southern Energy provides the company with the opportunity to work with its partners to continue to mature the proposed FLNG project towards a final investment decision and to unlock the full potential of its Vaca Muerta acreage.
Courtesy of Harbour Energy.