UK-based oil and gas major bp has a 56% stake in the Greater Tortue Ahmeyim (GTA) project. Credit: Tommy Lee Walker/Shutterstock.

The International Chamber of Commerce has delivered a final ruling in favour of BP, affirming its position as the exclusive buyer of LNG from the GTA project offshore Senegal and Mauritania.  

This decision comes after a dispute between Kosmos Energy and BP Gas Marketing, a subsidiary of bp, regarding LNG sales from the project’s first phase, reported Reuters.  

Related Company Profiles

View all

Kosmos Energy, a US-listed exploration company, was informed that the binding award prevents it from selling LNG cargos to third parties for the duration of the sales agreement, which may extend until 2033.  

In a Securities and Exchange Commission filing, Kosmos said: “The final, binding award prohibits the company from selling LNG cargos to third party buyers during the contract term of the LNG sales agreement, which the company has an option to end in 2033.  

“The final award does not change the terms of the LNG sales agreement as presently performed by the parties and is therefore not expected to have an impact on the company’s long-term expectations and financial condition.” 

See Also:

UK-based oil and gas major bp, with a 56% stake in GTA and the project’s operator, has a 20-year contract to purchase 2.5 million tonnes per year of LNG from the project. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The project boasts the deepest subsea infrastructure in Africa, with wells located at depths of up to 2,850m.  

Kosmos CEO Andrew Inglis indicated at a BloombergNEF conference in London that the GTA project is expected to commence by year-end.  

Kosmos holds a 26.8% share in the project, with Societe des Petroles du Senegal and Societe Mauritanienne des Hydrocarbures as partners. 

In June, bp announced the arrival of the floating production storage and offloading (FPSO) vessel, a crucial element of the GTA Phase 1 LNG development, at its final offshore location.  

The FPSO is designed to process more than 500 million standard cubic feet of gas per day, purifying the gas before its transfer via pipeline to the floating LNG vessel situated approximately 10km offshore.  

There, the gas will undergo cryogenic cooling and liquefaction, preparing it for exportation.