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Home»Offshore»Golar Secures FLNG Charter Deal for Argentina’s LNG Scheme
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Golar Secures FLNG Charter Deal for Argentina’s LNG Scheme

August 7, 2025
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Southern Energy S.A. Reaches Final Investment Decision for 3.5MTPA FLNG Charter with Golar LNG

Southern Energy S.A. (SESA), a company dedicated to enabling LNG exports from Argentina, has recently announced the final investment decision (FID) for the charter of a 3.5MTPA MK II floating LNG (FLNG) vessel from Golar LNG. This strategic move marks a significant step towards solidifying Argentina’s position as an emerging LNG exporter in the global market.

Key Commercial Terms and Agreement Details

The 20-year charter agreement includes a net charter hire of $400 million per year to Golar, along with a commodity-linked tariff component of 25% of FOB prices exceeding $8/mmbtu. The FLNG vessel, currently undergoing conversion in China, is expected to set sail to Argentina upon completion, with operations anticipated to commence in 2028.

Operational Synergies and Capacity

The MK II FLNG vessel will be moored in the San Matías Gulf alongside the FLNG Hilli, which is slated to begin its own 20-year charter with SESA in 2027. Together, these two units boast a combined nameplate capacity of 5.95MTPA, allowing the project to leverage operational efficiencies and synergies from having two FLNG vessels in close proximity.

Ownership and Partnership

SESA is a consortium-owned entity, with leading Argentinian gas producers such as Pan American Energy, YPF, Pampa Energia, and Harbour Energy holding significant ownership stakes. Golar also maintains a 10% ownership interest in SESA, further solidifying its position as a key player in the project.

Regulatory and Closing Conditions

While the MK II FLNG project is progressing according to schedule, it remains subject to regulatory conditions precedent and other customary closing conditions. The project team anticipates these conditions to be met within 2025, paving the way for seamless operations and commercial activities.

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Quote from Golar’s CEO

In response to the FID announcement, Karl Fredrik Staubo, CEO of Golar, expressed his enthusiasm for the project’s potential impact on Argentina’s LNG export capabilities. Staubo emphasized the strategic importance of the partnership with SESA and the long-term revenue visibility it provides to Golar, positioning the company as a market-leading FLNG service provider.

Overall, the FID for the 3.5MTPA FLNG charter represents a significant milestone for SESA and Golar, setting the stage for enhanced LNG export opportunities in Argentina and South America. With a strong partnership and a clear strategic vision, the project is poised to make a lasting impact on the region’s energy landscape.

Argentinas charter deal FLNG Golar LNG Scheme Secures
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