International commercial law firm, Ince & Co., has advised Golar LNG on its agreement of material commercial terms with Perenco Cameroon. The terms concern the development of a floating LNG (FLNG) export project off the coast of Cameroon, utilising Golar's floating liquefaction technology.
The tolling agreement is processing agreements for the conversion of fuel for a fee, setting out the material commercial terms for the project. It is subject to finalisation with Société Nationale des Hydrocarbures (SNH) and approval from the government of Cameroon before production, which is expected to start in 2Q17.
Its London-based Partner, Jonathan Goldfarb, led the Ince team since he has previously advised Golar LNG on the completion of its floating storage and regasification unit (FSRU) lease with the Ministry of Energy and Mineral Resources of Jordan in 2013 and other projects.
Gary Smith, CEO of Golar LNG, said: “This project in Cameroon is breaking new ground both technically and commercially for the LNG industry. The legal expertise and insight provided by Jonathan and the team at Ince & Co. has proved invaluable in reaching this significant milestone in the project.”
Mr Goldfarb commented: “Advising on Golar LNG’s previous FSRU projects has given the firm an unrivalled breadth of knowledge and expertise in floating LNG projects and we are delighted, once again, to be working with Golar on this landmark FLNG project in Cameroon.”
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/floating-lng/10072015/golar-lng-advised-on-project-terms-by-ince-co-1017/