BP Plc and Kosmos Energy Ltd. have commenced gas production from offshore fields in Senegal and Mauritania as part of the Greater Tortue Ahmeyim (GTA) project.
The $4.8 billion initiative aims to produce approximately 2.3 million tons of liquefied natural gas (LNG) annually during its first phase.
The project involves wells drilled in deep waters, reaching depths of up to 2,850 meters, with gas directed to a floating storage vessel for processing.
On December 31, the energy ministries of Senegal and Mauritania announced that gas is now flowing to the floating facility, with LNG deliveries expected to start soon.
This milestone is expected to significantly boost Senegal’s economy, which already experienced growth from oil exports.
The country’s economic growth surged to a record 8.9% in the third quarter of 2024, and the International Monetary Fund (IMF) forecasts a 9.3% expansion for the year.
With this growth, Senegal aims to improve public finances, particularly as the budget deficit is projected to exceed 11% of GDP in 2024.
Prime Minister Ousmane Sonko emphasized the country’s goal to reduce the deficit to 3% of GDP by 2027 through cuts in government spending and increased tax revenues starting in 2025.
