The African Energy Chamber is proud to announce that EG LNG has joined the African Energy Week 2023 conference as a bronze sponsor, marking the company’s return to the highly-anticipated event.
Equatorial Guinea’s substantial natural gas reserves, totaling five trillion cubic feet, offer a unique opportunity for the country to expedite its energy sustainability agenda, fostering a transition to a just energy future in Africa. Simultaneously, these resources play a pivotal role in enhancing energy security, serving as a strategic solution for advancing electrification and industrialization. As such, the country has been quick to leverage these resources and is making considerable progress to position itself as a global Liquefied Natural Gas (LNG) exporter.
As the country continues to engage with global partners to attract new investment into the domestic market and across regional acreage, the African Energy Chamber (AEC) is proud to announce that Equatorial Guinea-based natural gas firm EG LNG has joined the African Energy Week (AEW) 2023 conference – taking place October 16-20 in Cape Town – as a Bronze Sponsor. This marks the company’s return to AEW, an event which represents the biggest gathering of energy stakeholders on the continent.
To improve the expansion of Equatorial Guinea’s gas industry for sustainable development and economic diversification, improving collaboration with both regional and international stakeholders becomes imperative. This collaboration is pivotal for enhancing investments, facilitating the influx of novel technologies, and cultivating essential gas industry skills within the country.
As the primary driver behind the country’s Gas Mega Hub (GMH) initiative – encompassing various projects that aim to position the country as a regional gas processing hub – EG LNG plays a vital role in orchestrating collaboration between the nation and international partners. Recognizing the role gas plays as both a sustainable energy solution and strategic investment opportunity in Equatorial Guinea, EG LNG spearheads a number of gas monetization endeavors in the country under the GMH program.
The company’s steadfast commitment to enhancing the country’s gas production, storage and transportation infrastructure has been unwavering since its inception. At the heart of this endeavor is EG LNG’s operation of Equatorial Guinea’s 3.4 million metric tons per annum (mtpa) LNG processing facility situated in Punta Europa as well as its terminal in Malabo. The development of domestic LNG infrastructure has enabled Equatorial Guinea to monetize both domestic offshore resources as well as regional, with various bilateral agreements in place that enable the country to transform neighboring gas into LNG for export. Agreements are in place with countries such as Cameroon as well as Nigeria. As a result, Equatorial Guinea’s position as a hub has strengthened while regional access to LNG has improved.
In addition to existing infrastructure projects, EG LNG continues to invest in the industry under efforts to advance the sustainable production of gas. A $3 billion initiative is in the works, comprising the establishment of a 4.4 million mtpa LNG facility and the deployment of gas pipelines linking the plant to Nigerian and Cameroonian gas fields. In March 2023, the company also inked a Heads of Agreement with U.S.-based global major Chevron for the construction of infrastructure connecting the Alen gas fields with the Punta Europa facility.
However, EG LNG’s investments go beyond energy resources, with the company prioritizing local content development. In this area, EG LNG also plays an instrumental role in supporting local capacity and skills development. The company offers employments opportunities, partners with local energy and logistics firms while supports skills and technology transfer across the industry. EG LNG spearheads a series of training programs in partnership with regional and global energy partners.
“EG LNG is spearheading Equatorial Guinea’s GMH agenda and other African-based gas companies stand to learn a great deal from the organization. By partnering with a suite of global firms, advancing local content and technology transfer and accelerating the pace at which gas is monetized in Africa, EG LNG continues to make great strides towards driving a just energy transition on the back of gas,” states NJ Ayuk, the Executive Chairman of the AEC.
EG LNG’s Bronze Sponsorship at AEW 2023 is a testament to its dedication to fostering engagement regarding Africa’s gas future. During the event, the company is set to participate in a number of panel discussions and networking forums, laying the foundation for new deals to be signed across Equatorial Guinea’s gas market.
AEW is the AEC’s annual energy event that unites African governments and policymakers with global investors and project developers. Taking place in Cape Town, the event represents the biggest gathering of energy stakeholders on the continent, and convenes under a mandate to make energy poverty history by 2030. For more information about speaker, sponsorship and partnership opportunities, visit www.aecweek.com.
