During the 2023 edition of the African Energy Week conference and exhibition, Oscar Garcia Berniko, Director General for State Entities and Petroleum Assets of Equatorial Guinea will discuss monetizing gas in Africa.
With natural gas representing the fuel of the future in Africa, a number of countries have put in place ambitious gas-focused agenda’s that aim to monetize resources and drive long-term and sustainable economic growth. At the head of this is Equatorial Guinea, a country which is not only monetizing domestic resources but regional stranded assets under its Gas Mega Hub (GMH) initiative. As the initiative gains momentum, Equatorial Guinea’s Director General of State Entities and Petroleum Assets, Oscar Garcia Berniko, will participate at the 2023 edition of the continent’s premier event for the oil and gas industry, African Energy Week (AEW) – scheduled for October 16-20 in Cape Town -, driving discussions around gas monetization and the role state-owned corporations play in Africa.
With over 1.5 trillion cubic feet of natural gas reserves, Equatorial Guinea has placed gas as a key driver of industrialization and socioeconomic growth, driving a series of upstream and downstream developments that aim to position the country as a globally competitive gas economy. However, the country’s gas achievements lie not only in its capacity to develop its own resources but in its focus on monetizing stranded assets in regional offshore basins. Through its GMH initiative – centered on the creation of a processing hub in Equatorial Guinea that can receive, process and export gas via Liquefied Natural Gas (LNG) both internationally and continentally – the country is making strong headway towards improving gas monetization in Africa.
As the Director General of State Entities and Petroleum Assets, Berniko is committed to seeing the GMH become a success. Leveraging his years of experience in the oil and gas sector, Berniko has and continues to be an instrumental leader, whose participation at AEW 2023 will be key in expanding gas-related investment. A strong advocate for infrastructure development, Berniko will engage with investors and project developers at this year’s conference, making a strong case for investing in Equatorial Guinea’s gas industry. With the country’s Punta Europa facility gaining significance as a processing hub across the regional gas market, Berniko is looking at attracting new investment to expand facilities, secure new import networks and enhance distribution across the county.
During an Equatorial Guinea country spotlight at the 2022 edition of AEW, Berniko stated that, “Regarding infrastructure, Punta Europa is one of the best performing gas infrastructures, not only in CEMAC, but in West Africa. It is pushing us to believe that we can not only process gas from other fields in Equatorial Guinea, but also from neighboring countries like Cameroon and Nigeria.”
Having already signed agreements with Cameroon, Nigeria, São Tomé and Príncipe and the Republic of the Congo, among others, Equatorial Guinea is looking at securing new partnerships with other regional gas players. What’s more, the country is focusing on increasing LNG exports, with upcoming projects such as the Fortuna Floating LNG facility expected to position Equatorial Guinea as global producer and exporter. As such, the country is witnessing significant growth across its gas industry, and AEW 2023 will only advance development agendas.
“Oscar Garcia Berniko not only represents a high-level speaker at AEW 2023 but a strong advocate of Africa’s socioeconomic development. Berniko continues to make sure on his promise to use gas to industrialize, electrify and grow the African economy. During AEW 2022, Berniko made a strong case for investing in Equatorial Guinea infrastructure, and in 2023, this trend will only continue as he engages with investors, E&P players and a suite of African state-owned enterprises with the aim of signing new deals and partnership agreements,” states NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC), adding that, “This year’s edition of AEW is not-to-be missed. With speakers such as Berniko driving discussions on monetizing African gas, new deals are expected to be signed.”
AEW is AEC’s official annual event uniting African energy policymakers, companies and stakeholders with global investors and partners to discuss the future of the continent’s oil and gas industry. For more information, visit www.aecweek.com
