Senegal is planning to take full control of the Yakaar-Teranga gas project, currently operated by Kosmos Energy, in a bid to secure domestic gas supplies, the country’s Energy Minister Birame Souleye Diop announced.

The project, one of the largest recent gas discoveries globally, holds an estimated 25 trillion cubic feet (tcf) of recoverable gas—surpassing Israel’s Leviathan field, which contains around 22 tcf. Kosmos Energy owns a 90% stake, while state-owned Petrosen holds the remaining 10%.

Kosmos became the operator in 2023 after BP exited the project. Its license is set to expire in July 2026. “We want to nationalize the project and allow Petrosen, which has the expertise, to develop it for domestic needs, while keeping the option for export open,” Diop said during a conference in Diamniadio.

Kosmos shares dropped 6.1% in New York trading following the announcement, hitting a five-year low.

So far, no final investment decision has been made public, though Petrosen had indicated last year that it expected one in 2025. Kosmos stated it has been working with Petrosen to secure a viable development plan and explore potential partners since BP’s departure.

In addition to Yakaar-Teranga, Kosmos and Petrosen are stakeholders in the Greater Tortue Ahmeyim LNG project offshore Senegal and Mauritania, which contains around 15 tcf of gas and shipped its first cargo in April.