BP, Kosmos Loads First LNG Export From GTA Phase 1, One of Africa's Deepest Gas Projects

BP p.l.c. (NYSE:BP) announced Thursday that it successfully loaded the first LNG export cargo from its Greater Tortue Ahmeyim (GTA) Phase 1 project, located offshore Mauritania and Senegal.

GTA is among the deepest offshore gas developments in Africa, with resources in water depths reaching up to 2,850 metres.  

The GTA Phase 1 project is a joint effort involving Kosmos Energy Ltd. (NYSE:KOS) and PETROSEN, alongside bp.

GTA Phase 1 is expected to produce approximately 2.4 million tonnes of LNG annually once fully operational.

The first LNG cargo lifting marks a critical milestone as Kosmos and its partners begin recognizing revenue, signaling the transition into the production and commercial phase of the development.

Notably, the first LNG shipment from the GTA Phase 1 project was successfully transferred to a carrier from the project's floating liquefied natural gas (FLNG) vessel, located about 10 kilometers offshore.

A portion of the gas will also be allocated to support domestic energy markets in both countries as infrastructure becomes available.

The GTA cargo marks BP's third major upstream project start-up in 2025 and is among the first of 10 planned by the end of 2027. This aligns with the company's strategy to expand its upstream oil and gas operations.

Gordon Birrell, EVP of production & operations, said, "This first cargo from Mauritania and Senegal marks a significant new supply for global energy markets. Starting exports from GTA Phase 1 is an important step for BP and our oil and gas business as we celebrate the creation of a new production hub within our global portfolio."

Last week, the company disclosed a new oil discovery at the Far South prospect in the deepwater U.S. off the Louisiana coast.

Investors can gain exposure to the stock via Precidian ETFs Trust BP plc ADRhedged (BATS:BPH) and Texas Capital Texas Oil Index ETF  (NYSE:OILT).

Price Action: BP shares are up 3.33% at $28.58 at the last check on Thursday.

Read Next:

• BP Sees Mixed Q1 Outlook With Flat Oil Prices, Weaker Gas Trading Ahead Of Earnings

Photo by Tada Images via Shutterstock