Wes Edens is the CEO of the New Fortress Energy Company. The New Fortress Energy company claimed that it would manufacture LNG for both local and export markets using its fast LNG technology. Under the idea, the gas would be supplied to both 120 MW and 180 MW Somolec power plants. According to Eden, the unique Fast LNG liquefiers will assist in speeding up the global transformation to cleaner fuels by producing liquefied natural gas from all these fields.
Moreover, Wes Edens continues to argue that the supply of natural gas and modern power infrastructure would also assist Mauritania to achieve more economical, dependable, and cleaner electricity. His reason is to enable industrial growth while also unlocking the country’s capabilities as the leading exporter of clean LNG and blue ammonia. The company promised to support Mauritania in industrial development-related projects.
Tullow Oil appraised the oilfield in 2008 after Woodside identified it in 2002. In 2012, Tullow proclaimed the field operational, announcing plans for power production. The gas reserves in Banda are estimated to be roughly 1.2 trillion cubic feet. This project, however, was halted due to disagreements between Tullow and the government. In 2020, Maersk Decom was awarded decommissioning work on Banda.
Maersk has hired Island Drilling to block and dump four wells on Banda and Tiof, plus one optional well. The work will be completed with the Island Innovator in the fourth quarter of 2022; this is according to the business. In March, NFE stated that it had made a final investment decision (FID) on a Fast LNG project. Edens indicated at the time that the 1.4 million tonnes per year plant would enable it to manufacture LNG for $3-4 per mmBtu. NFE announced at the time that its first Fast LNG project could be up and running in 2 years.