Africa

Equatorial Guinea’s mega gas hub monetizes regional resources and consolidates the country’s position as Africa’s leading cross-border gas company

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Equatorial Guinea’s mega gas hub monetizes regional resources and consolidates the country’s position as Africa’s leading cross-border gas company

Equatorial Guinea has been incredibly strategic with this project and has set a high benchmark for other African gas producers.

JOHANNESBURG, South Africa, September 27, 2021 / APO Group / –

Despite being one of the smallest countries in Central Africa, Equatorial Guinea holds some of the continent’s most important hydrocarbon resources and has succeeded in establishing itself as the third largest oil producer in sub-Saharan Africa. As the country pursues the accelerated development of its 1.5 trillion cubic feet (tcf) of natural gas reserves, the Ministry of Mines and Hydrocarbons of Equatorial Guinea (MMH) is implementing a national strategy to consolidate the country’s position as a regional gas leader. Thanks to its Gas Mega Hub – designed to harness untapped national gas resources at sea and those in the region – Equatorial Guinea has laid the foundations for large-scale gas commercialization, thus stimulating industrial development and economic growth.

The Gas Mega Hub (GMH) has seen significant progress since its first announcement in 2018. The first phase of the project was the successful completion of the $ 330 million Alen gas monetization project, which provides fuel. gas from the Alen field operated by Noble Energy onshore. gas processing facilities at Punta Europa on the island of Bioko. The vision behind the GMH is clear: to develop and expand national processing and harvesting infrastructures that will be supplied by regional reserves. By providing a base for the commercialization of natural gas and working in collaboration with neighboring countries, Equatorial Guinea is creating new supply opportunities for its Punta Europa facilities, while allowing the monetization of regional reserves.

The second phase of the GMH includes the establishment of additional poles throughout the region. With over four trillion cubic feet of natural gas, Cameroon, for example, is set to benefit significantly from GMH, just like Nigeria, with an incredible 200 tcf of gas reserves. Both countries have several stranded gas fields at Equatorial Guinea’s maritime border, with GMH offering critical marketing opportunities.

With a view to increasing the production of hydrocarbons and stimulating the associated socio-economic growth, the MMH, under the leadership of HE Minister Gabriel Mbaga Obiang Lima, not only created an environment conducive to enhanced regional participation, but also also demonstrated the importance of regional collaboration in driving Africa’s energy success. During the Leadership Insight Series: Equatorial Guinea webinar organized last week by the Bilateral Chamber, HE Minister Lima highlighted the role GMH will play in Africa’s energy transition and regional economic growth. Using resources at Equatorial Guinea’s borders, as well as cross-border fields with Cameroon and other West African countries, the country is pooling stranded supplies and positioning itself as a central gas leader.

“Equatorial Guinea is the market to watch in 2021 and beyond. The country is not only accelerating the exploitation and development of its national oil and gas resources, but is also establishing itself as a regional gas mega hub through targeted investments and the development of processing and transport facilities. The Ministry of Mines and Hydrocarbons has a clear objective: to position the country as a central and regional gas processing hub, ”said Sergio Pugliese, former BP and Equinor Exec and president of AEC Angola.

“During African Energy Week (AEW) 2021 in Cape Town, the Gas Mega Hub will be presented to regional and international investors, with a focus on the commercialization opportunities offered by the project. Equatorial Guinea has been incredibly strategic with this project and has set a high benchmark for other African gas producers. Regional collaboration, a favorable environment and a market-driven approach to hydrocarbon development have enabled Equatorial Guinea to achieve its ambitious goals in the energy sector. .

AEW 2021, in partnership with the South African Department of Mineral Resources and Energy DMRE, is the AEC’s annual conference, exhibition and networking event. AEW 2021 brings together African energy players with international investors and partners to drive industry growth and development, as well as promote Africa as a destination for energy investments.

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