Kosmos Energy Ltd (LSE:KOS, NYSE:KOS) shares traded higher in London, rising 3.6% to 130p, as it confirmed the first cargo of liquefied natural gas has been safely loaded at the Greater Tortue Ahmeyim (GTA) project, offshore Mauritania and Senegal.
LNG was transferred from Golar LNG’s floating vessel, 10km offshore, to the "British Sponsor" LNG carrier, and now, a second LNG vessel is in position for the next loading.
At GTA, first gas was achieved in late 2024, and LNG production began in February.
With the first cargo now being shipment, it marks the start of revenue generation for the project and the group of oil and gas firm’s that delivered it.
"The first LNG cargo is a significant milestone, enabling Mauritania and Senegal to become gas exporting nations from this project of national strategic importance,” Kosmos chief executive Andrew Inglis said in a statement.
“We continue to work with BP, SMH and PETROSEN to safely ramp up the project to its full capacity as well as deliver expansion that leverages the infrastructure put in place for this initial phase."