BP Achieves Milestone in GTA Project With First FLNG Gas

Core Insights - BP plc has achieved a significant milestone in its Greater Tortue Ahmeyim (GTA) liquefied natural gas (LNG) project, marking a critical step in the commissioning of Golar LNG's floating liquefied natural gas (FLNG) vessel, Gimi [1][8] - The GTA Phase 1 project is BP's largest and most complex undertaking, with the first gas flow from subsea wells to the FPSO GTA recently commenced [2][5] - The first export cargo of LNG is anticipated by the first quarter of 2025, with full commercial operations expected in the second quarter, contingent on meeting necessary conditions [3] Project Details - The completion of the commissioning phase will initiate a 20-year lease and operate agreement, unlocking approximately $3 billion in adjusted EBITDA backlog for Golar LNG [4] - The GTA Phase 1 development features Africa's deepest subsea infrastructure, with wells reaching water depths of up to 2,850 meters, and is set to produce 2.3 million tons of LNG annually for over two decades [5][6] - BP holds a 56% working interest in the project, supported by approximately 15 trillion cubic feet of recoverable gas resources, with partners including Kosmos Energy, Petrosen, and SMH [6] Strategic Importance - The achievement of this milestone reinforces BP's position as a leader in deepwater gas developments and highlights the strategic importance of LNG in its future energy mix [8] - BP continues to advance other global projects, including ongoing drilling and subsea commissioning operations in the Mediterranean Sea, demonstrating its commitment to expanding its energy footprint [7]