Golar LNG has revealed a significant milestone has been reached in the Fortuna FLNG Project.

Equatorial Guinea, Ophir Holdings & Ventures, OneLNG and GEPetrol have inked a detailed umbrella agreement setting out the legal and financial framework of the project, a statement from Golar said.

Analysts at Fearnley Securities say the umbrella agreement is the first of four key points on the way to a final investment decision of the project.

Construction contracts, financing and an offtake agreement are all still requited, Espen Landmark Fjermestad and Peder Nicolai Jarlsby said in a report this morning.