Equatorial Guinea to build West Africa’s first LNG storage and regas plant
Equatorial Guinea is set to construct the first liquefied natural gas storage and regasification plant in West Africa, advancing efforts to monetise gas resources through the creation of domestic gas-to-power infrastructure.
Located at the Port of Akonikien on the country’s mainland, the plant will enable the transportation and storage of LNG from the country’s LNG plant at the Punta Europa Gas Complex on Bioko Island, to Akonikien on the southern border of the mainland.
It will then be fed into the regasification plant to be distributed to smaller-scale power plants and LNG power stations throughout the country, as well as exported to neighbouring countries.
The Akonikien project is the first gas-to-power development in Equatorial Guinea’s LNG2Africa initiative.
Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons, said the terminal is the first of many upcoming projects under the LNG2Africa initiative.
“LNG2Africa has a clear objective of developing small-scale LNG projects to supply gas to countries and regions with limited infrastructure,” declared Obiang Lima.
He added: “At a time when Africa’s large-scale LNG projects are making headlines, let’s remind ourselves that smaller-scale projects addressing the needs of energy-deficient regions provide opportunities to monetise our gas for our economies, and to mobilise our local companies around key infrastructure projects for the region.”
Germany rallies behind the project
German companies ESC Engineers and Noordtec are working closely with Elite Construcciones in the design, development and construction of the Akonikien LNG project.
“German companies have once again demonstrated their ability to bring valuable technical expertise and technology to meet Africa’s growing and complex energy needs,” declared Sebastian Wagner, founder at the Germany-Africa Business Forum.
Last month and in order to support the growing energy cooperation between Germany and Africa, the GABF launched a multi-million Euro funding commitment to investing in German energy start-ups which focus on Africa.
“We congratulate the Ministry of Mines and Hydrocarbons and Elite Construcciones on this remarkable achievement,” declared Nj Ayuk, executive chairman of the African Energy Chamber, who advised on the project.
“This is a beautiful example of local content development and world-class cooperation between a local company and international technical and technology partners.”
Source: OilVoice