Kosmos Energy Shares Rise 10% After Project Produces Gas

Dow Jones

Jan 03, 2025

By Katherine Hamilton

Kosmos Energy stock rose Thursday after the company's liquid natural gas project in West Africa produced gas for the first time.

Shares edged up 10% to $3.80. The stock has lost about 43% of its value over the past 12 months.

The Greater Tortue Ahmeyim liquified natural gas project, located in offshore Mauritania and Senegal, produced gas for the first time on Tuesday. The project was developed in collaboration with BP.

Once fully commissioned, the project is expected to produce about 2.3 million tonnes of liquid natural gas annually. The floating liquid natural gas vessel nameplate capacity is 2.7 million tonnes per year.

Kosmos expects the first liquid natural gas cargo to happen in the first quarter of 2025. The company will also start to recognize revenue from the project at that time, it expects.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

January 02, 2025 11:05 ET (16:05 GMT)

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