The African Energy Chamber supports the recent inking between SNPC, Eni Congo, Lukoil, and Eni SPA for the purchase and sale of liquefied natural gas.
The African Energy Chamber (AEC) firmly supports the recent contract signing between SNPC, Eni Congo, Lukoil, and Eni SPA for the purchase and sale of liquefied natural gas (LNG). This agreement marks a significant milestone in the Republic of Congo’s energy sector development, showcasing a dedication to harnessing natural gas potential for both domestic and international advantages.
The LNG Marine XII project, involving a substantial investment of nearly $5 billion, stands as a pioneering initiative for the Republic of Congo. It will leverage the natural gas resources within the Marine XII permit in two distinct phases—a historic first for the nation. The gas will undergo liquefaction before being introduced to the global market. The maiden LNG carrier is set to sail from Congolese shores in December 2023, signaling the launch of the first phase with an export capacity of 0.6 million tons annually. The subsequent phase, planned for 2025, will elevate this capacity to an impressive 2.4 million metric tons per year, ultimately reaching an annual LNG export of 3 million tons.
This initiative reflects the Republic of Congo’s unwavering commitment to unlocking its natural gas resources’ full potential. While LNG exports are expected to infuse substantial financial resources into the nation, the domestic market will also witness significant growth, benefiting sectors like electricity, mining, agriculture, and industries and fostering sustainable economic development.
Credit for this historic achievement goes to the collaborative efforts of SNPC and the Ministry of Hydrocarbons, illustrating SNPC’s dedication to its mission and its role as a driving force in the exploration and exploitation of hydrocarbons. The AEC commends Bruno Itoua, the Minister of Hydrocarbons, Republic of Congo, and Maixent Raoul Ominga, Managing Director of SNPC, for an exemplary partnership in creating an enabling environment for this momentous endeavor. The synergy between companies such as Eni and institutions like SNPC and the Congolese Ministry highlights the potential for projects like this to address energy poverty, drive industrialization, and accelerate Congo’s development.
Notably, in April, Eni also demonstrated its commitment to advancing gas projects in the Republic of Congo through the Congo LNG project, aiming for an annual output of 3 million tons (approximately 4.5 billion cubic meters annually) by 2025. This initiative involves deploying two cutting-edge floating LNG (FLNG) plants to process gas from existing and future fields. The FLNG facilities, boasting production capacities of 0.6 million tons per annum (mtpa) and 2.4 mtpa, are scheduled for operation in 2023 and 2025.
“The recent contract signing represents a monumental stride forward in unlocking the vast potential of natural gas resources in the Republic of Congo. The Chamber stands resolutely behind these efforts, which not only bolster the energy security of the nation but also contribute significantly to the economic growth and prosperity of the African continent as a whole. We commend the collaborative efforts of SNPC and the Ministry of Hydrocarbons for creating an enabling environment for this momentous endeavor,” stated NJ Ayuk, Executive Chairman of the AEC.
Additionally, the AEC eagerly anticipates the outcomes of ongoing exploration activities, including the Marine VI bis permit and the imminent allocation of Marine Blocks XXIV and XXXI. These initiatives hold the promise of further enriching the Republic of Congo’s burgeoning gas sector, offering potential synergies with other gas producers, and ensuring the nation’s energy security and economic prosperity.
Furthermore, the Republic of Congo's active participation in initiatives geared towards boosting its hydrocarbon production capabilities lays a solid foundation for continued growth and development in the energy sector, contributing to both national prosperity and regional energy stability.
The endorsement of this agreement by the AEC highlights the significance of collaborative efforts within the region to promote sustainable energy solutions and enhance Africa's energy sector. As discussions around transformative deals and developments like this continue to gather momentum, the AEC invites stakeholders to join the conversation at the upcoming African Energy Week in Cape Town. This event will serve as a platform for sharing insights, forging partnerships, and propelling the continent’s energy sector toward a brighter and more sustainable future.
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