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Congo Takes the Lead in Gas Monetization with Second Eni-Led Floating Liquefied Natural Gas (FLNG) Project

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2 years ago

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Liquefied Natural Gas

Global energy major, Eni, has announced the launch of a second floating liquefied natural gas facility offshore the Republic of Congo in a move set to amplify the country’s LNG production and exports

JOHANNESBURG, South Africa, December 22, 2022/APO Group/ — 

At a time when Africa most needs its oil and gas resources, the Republic of the Congo is taking the lead, driving an ambitious gas monetization agenda led by the Minister of Hydrocarbon, H.E. Bruno Jean-Richard Itoua – who also served as the President of the African Petroleum Producers Organization for 2022 – and national oil company, La société nationale des pétroles du Congo (SNPC), in close collaboration with a suite of regional and global energy majors.

And the most recent achievement saw Italian energy major, Eni, signing a contract with Wison Heavy Industry for the construction and installation of the Republic of the Congo’s second floating liquefied natural gas (FLNG) facility – an achievement set to significantly increase the production and exportation of liquefied natural gas (LNG). With a capacity to produce 2.4 million tons per annum (mtpa) of LNG, the facility represents part of the wider Marine XII gas valorization plan, and is set to increase LNG production on Marine XII to three mtpa by as early as 2025.

The announcement of a second FLNG facility could not come at a better time for both the country and the African continent at large. In addition to reaffirming Eni’s commitment to the country, the launch of a second FLNG platform is set to significantly improve domestic production, consolidating the Republic of the Congo’s position as a regional gas hub. With over 10 trillion cubic of natural gas resources, the development of Congolese gas serves as one of the key solutions to ensuring the regional economy not only develops, but thrives. As such, the government has been focused on investment, creating the right business environment that has allowed majors such as Eni to launch large-scale projects such as this.

AEW 2023 represents the premier platform where energy deals are made

“What the Ministry of Hydrocarbons, led by H.E. Bruno Jean-Richard Itoua, and the SNPC have done in the Congo should be commended. They have been committed to gas and the results are already showing. The Republic of the Congo has the chance to become not only a regional but global producer of LNG, and the launch of a second FLNG facility by Eni will be key for making this objective a reality,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber.

For their part, both the Ministry of Hydrocarbons and the SNPC have been resilient, despite ever-increasing pressure by global actors for Africa to immediately transition away from oil and gas. Recognizing the critical role natural gas has and will continue to play in making energy poverty history, kickstarting industrialization while driving long-term and sustainable socioeconomic growth, the Ministry and SNPC have long-been committed to creating an enabling environment for investors, with the announcement of Eni’s second FLNG facility serving to only reaffirm the efforts taken by the government to do just that.

Under the country’s broader Gas Master Plan – a national framework developed by the Ministry of Hydrocarbons and Wood Mackenzie and guided by the SNPC that lays the foundation for the promotion of gas utilization and the attraction of foreign direct investment – the Republic of the Congo has prioritized an enabling environment, making a strong case for project launches, investment commitments and international partnerships. In this regard, other African countries should follow suite, as the country serves as a benchmark for other gas-rich nations across the continent. 

The very topic of natural gas monetization represents a central point of discussion during the 2023 edition of the continent’s premier event for the oil and gas sector: African Energy Week (AEW). Under a mandate of making energy poverty history by 2030, AEW 2023 – taking place from October 16-20 in Cape Town, South Africa – represents the ideal platform to sign deals, form partnerships and capitalize on African energy opportunities in 2023 and beyond. Having taken on a central role during AEW 2022, the Republic of the Congo will, once again, lead discussions and deals during AEW 2023.

“AEW 2023 represents the premier platform where energy deals are made. During the 2022 edition, a number of billion-dollar deals were signed that are already translating into project launches and developments. During the 2023 edition, this trend will only continue as stakeholders from across the global and regional energy landscape make their way to Cape Town to become part of Africa’s energy movement. The announcement of a second FLNG facility in the Congo represents just one of the types of developments AEW 2023 is set to unlock, and you can be a part of the next wave of Africa-focused deals.”

AEW 2023 is set to return even bigger than better than previous editions. Secure your spot among energy ministers and policymakers, global energy majors and investors, as well as regional stakeholders and companies at the biggest gathering for the energy sector on the continent.

Distributed by APO Group on behalf of African Energy Week (

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Ministers among hundreds of energy-sector leaders to attend AOW event

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1 day ago

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October 4, 2024

By

Sinclair

The event kicks off with an invitation-only ministerial symposium focused on the theme of “Fostering innovation, attracting investment, and promoting sustainable growth in the oil, gas, and energy sectors”

CAPE TOWN, South Africa, October 4, 2024/APO Group/ — 

AOW: Investing in African Energy (https://AOWEnergy.com) – Africa’s leading oil, gas and energy event – has confirmed attendance for more than 80 ministers and senior officials, representing African governments, energy departments and regulators at next month’s event.

These influential stakeholders will be among the more than 1 600 senior delegates and industry leaders who will be attending the event to develop policy, share discoveries, secure investment, and shape Africa’s energy future.

The event kicks off with an invitation-only ministerial symposium focused on the theme of “Fostering innovation, attracting investment, and promoting sustainable growth in the oil, gas, and energy sectors.”

Given the recent major oil-and-gas discoveries across Africa, the energy transition and major geopolitical events, it is clear that the energy sector needs positive intervention

Among the officials and government ministers attending will be energy leaders from South Africa, Nigeria, Namibia, Cote d’Ivoire, Mozambique, DRC, Ghana, Kenya, Madagascar, Eswatini, Uganda, CAR, Guinea Conakry, Guinea Bissau, Ethiopia, The Gambia, Gabon, Malawi, Morocco, Zanzibar, Liberia, Senegal, Congo Brazzaville and Sierra Leone.

In addition, the event will feature high-level delegations from numerous national oil companies, as well as multilateral bodies including the African Union, (AU), African Energy Commission (AFREC), African Petroleum Producers’ Organization (APPO) and the Southern African Power Pool (SAPP).

AOW will see these energy leaders networking with C-suite executives and decision-makers from more than 760 top energy companies at daily networking events, to discuss insights, forge new relationships, and negotiate major energy deals.

“We are so excited to see the calibre of delegates at this year’s AOW event,” says Chief Executive Officer of Sankofa Events, Paul Sinclair. “Given the recent major oil-and-gas discoveries across Africa, the energy transition and major geopolitical events, it is clear that the energy sector needs positive intervention. The high-powered attendance proves AOW is a key platform to enable this intervention.”

Key themes to be discussed at this year’s AOW will be sustainable upstream development; expanding gas value chains; renewables and new energies; adoption of best-in-class technologies; and access to finance.

AOW: Investing in African Energy will culminate in a special anniversary party at Groot Constantia Vineyard to celebrate 30 years of the AOW event.

Distributed by APO Group on behalf of AOW: Investing in African Energy.

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Afreximbank approves US$20.8 million for Starlink Global’s cashew factory project in Lagos

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1 day ago

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October 4, 2024

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PAPSS

The facility is expected to promote value addition which will guarantee increased earnings to the company while also fostering the creation of about 400 new jobs

CAIRO, Egypt, October 4, 2024/APO Group/ — 

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has approved a US$20.8 million financing facility for Nigeria-based Starlink Global & Ideal Limited to enable the company construct and operate a 30,000-metric tonne per annum cashew processing factory in Lagos.

We are delighted at this partnership which promises to deliver significant impact on employment in Nigeria

According to the facility agreement signed in on July 22, 2024, Afreximbank will provide the funds in two tranches with the first tranche of US$7.48M going toward capital expenditure for the construction of the factory and the second, totalling US$13.25M to be deployed as working capital for the operations of the factory.

The facility is expected to promote value addition which will guarantee increased earnings to the company while also fostering the creation of about 400 new jobs once the factory becomes operational. It is also expected to support about 40 small and medium-sized enterprises.

Commenting on the transaction, Mrs. Kanayo Awani, Executive Vice President, Intra Africa Trade and Export Development, Afreximbank, said that by supporting Starlink Global to establish a modern processing facility, Afreximbank is making it possible for Africa to add value to its agro-commodities, thereby facilitating exports and subsequent inflow of much-needed foreign exchange into the continent.

“We are delighted at this partnership which promises to deliver significant impact on employment in Nigeria. It will contribute to value creation and to the development of the local community while also improving the lots of smallholder farmers and small business suppliers that will work with Starlink across the value chain,” Mrs. Awani added.

Distributed by APO Group on behalf of Afreximbank.

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Sonangol to Lead Decarbonized Oil & Gas (O&G) Development, Says Angolan National Oil Company (NOC) Head

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2 days ago

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October 4, 2024

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Sonangol

Participating in an on-stage interview at Angola Oil & Gas 2024, Sonangol CEO Sebastião Gaspar Martins emphasized that oil and gas remains a core focus for the national oil company

LUANDA, Angola, October 3, 2024/APO Group/ — 

Angola’s national oil company Sonangol reiterated its commitment to driving sustainable hydrocarbon development during the Angola Oil & Gas (AOG) conference this week. Speaking during an “In-Conversation with” session, Sonangol CEO Sebastião Gaspar Martins stated that the company will not abandon oil and gas, but rather advance decarbonized oil and gas development.

We are looking at opportunities in the gas sector and have identified the right partner to develop non-associated gas

By investing in upstream oil and gas production while prioritizing low-carbon projects, Sonangol aims to boost national crude output, while diversifying and decarbonizing the industry. The NOC is focusing efforts on non-associated gas development, as well as alternative energy sources such as solar.

“We are looking at opportunities in the gas sector and have identified the right partner to develop non-associated gas. Gas produced from Angola LNG will be used for the production of fertilizer and we are evaluating the utilization of gas in the south of the country, linking gas with steel industries. We also have a blue carbon project, linked to the reduction of carbon through the plantation of mangroves. We have one area in Luanda and have identified four additional areas for this,” stated Gaspar Martins.

Sonangol has undergone transformation in recent years: following the creation of the National Oil, Gas & Biofuels Agency (ANPG) in 2019, Sonangol transferred its role as national concessionaire and regulator. This transformation has aimed to make Sonangol more competitive and strengthen its capacity as an upstream operator. Concurrently, the government is partially privatizing the NOC, with privatization set to be complete in 2026. This process will enhance financial capacity, allowing Sonangol to drive new upstream projects forward.

“The transformation of Sonangol started several years ago, when we passed the regulatory, concessionaire role to the ANPG. At the time, we transferred almost 600 employees to the ANPG. After that, Sonangol underwent a restructuring program where we created five core business units from 36 different entities – starting with exploration and production. We want to go public, but we want to do it properly. So, we are currently going through all the processes to do this,” stated Gaspar Martins.

Distributed by APO Group on behalf of Energy Capital & Power.

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