Senegal plans to nationalise Kosmos-run Yakaar-Teranga gas project

The Senegal's Energy Minister said that the country plans to nationalise Yakaar-Teranga, a gas project operated by Kosmos and estimated to be?one of the largest discoveries made in recent years?, to meet its domestic gas needs.

Kosmos Energy has a 90% share and will operate the Yakaar Teranga field after BP decides to leave in 2023. Kosmos didn't?immediately reply to a comment request outside of U.S. office hours.

The state-controlled 'Petrosen' holds the remaining 10% of the field. It is estimated to contain around 25 trillion cubic foot of recoverable natural gas. This is even more than the Leviathan field off the coast of Israel which contains around 22 tcf.

The Energy Minister Birame Soleeye Diop stated at a press conference held in Diamniadio, Tuesday, that the project is one we already have operators. We want to give Petrosen the chance to develop it to meet the domestic gas needs...without ruling out the option of exporting.

Petrosen, which holds 10% of the project, stated last year that it expected to make a final decision on investment in 2025. No decision has yet been made public.

Kosmos, Petrosen and BP are all shareholders in Greater Tortue Ahmeyim liquefied gas?project, located off Senegal and Mauritania. The project, estimated to contain 15 trillion cubic feet potentially recoverable natural gas, loaded its first cargo last April. (Reporting and editing by Barbara Lewis; Anait Miridzhanian, Shadia Nasralla)

(source: Reuters)