Connect with us
Anglostratits

Business

The LNG Marine XII Project Charts a Course Toward Energy Security and Economic Development in Congo

Published

on

Marine XII

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

JOHANNESBURG, South Africa, September 16, 2023/APO Group/ — 

The African Energy Chamber (AEC) (http://www.EnergyChamber.org) 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.

We commend the collaborative efforts of SNPC and the Ministry of Hydrocarbons for creating an enabling environment for this momentous endeavor

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.

Distributed by APO Group on behalf of African Energy Chamber.

Events

As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

Published

on

Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

Continue Reading

Business

Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

Published

on

CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

Continue Reading

Business

The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

Published

on

ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

Continue Reading

Trending