Firebird LNG, a joint venture of Houston-based Phoenix Development Holding Co and Idaho’s MAD Energy, has advanced the project to gather associated natural gas from oil production facilities offshore Suriname and Guyana in South America.
The gas will be liquefied it at an onshore facility, once built.
This project is now fully funded through to final investment decision (FID), CEO Walter Teter, said.
As a result, the stakeholders estimated that the 4 mill tonnes per year LNG facility will be operational by the end of 2024.
“With so much of the world in turmoil, the Firebird project has the advantage of being located in a country free of conflict and governed by a parliamentary democracy,” MAD Energy CEO, Georte Wentz, said.
“We think that kind of stability will be a real asset for us and for our customers.”
Firebird is underpinned by an open access pipeline that will gather associated gas from all producers in the Suriname-Guyana basin and deliver it onshore, either to gas-to-power markets or to the liquefaction plant, which is to be built near Nickerie, Suriname.
“As the anchor project of the deepwater port, the liquefaction plant will represent the single largest onshore industrial investment in Suriname to date,” Teter claimed..
The LNG facility’s initial capacity could be expanded if demand warrants, the company said. Associated gas resources in the basin have been estimated at some 35 trill cu ft, well in excess of what the initial Firebird LNG project will require.
In addition, the LNG facility could be enhanced to produce hydrogen, which would be primarily marketed in Europe.