In a transfer set to strengthen bilateral cooperation in West Africa, Equatorial Guinea and Nigeria have signed an settlement for the development of the Gulf of Guinea Gasoline Pipeline Undertaking. A joint regional pipeline growth, the undertaking will transport gasoline from Nigeria to Equatorial Guinea. Beneath the phrases of the deal, gasoline can be processed at Equatorial Guinea’s LNG processing amenities at Punta Europa on Bioko Island – owned by the state-owned EG LNG – signaling new alternatives for vitality safety on the again of bilateral collaboration.
The deal, signed by Presidents Teodoro Obiang Nguema Mbasogo and Bola Ahmed Tinubu this week, outlines plans for a pipeline, LNG facility feedstock and gasoline gross sales to energy corporations and industrial customers, making certain vitality safety and regional commerce in West Africa
“This settlement marks a major milestone in Equatorial Guinea’s GMH initiative, reinforcing our place as a regional chief in gasoline monetization. By partnering with Nigeria on the Gulf of Guinea Gasoline Pipeline, we aren’t solely strengthening bilateral cooperation but in addition regional collaboration to make sure a safe and dependable provide of gasoline for our LNG facility at Punta Europa for years to come back. This undertaking will unlock immense financial worth for each our nations, driving sustainable growth and vitality safety throughout the area,” said Antonio Oburu Ondo, Minister of Mines and Hydrocarbons of Equatorial Guinea.
The deal follows a slate of milestones achieved, all of which purpose to reinforce feedstock for Equatorial Guinea’s GMH at Punta Europa on Bioko Island. Commissioned in 2007, the ability was developed with the purpose of monetizing gasoline sources in each home and regional fields. Initially, gasoline was processed from the Alba subject, nevertheless, confronted with pure declines, different sources are being developed. Particularly, vitality producer Marathon Oil Corp. and vitality main Chevron signed an settlement in 2023 with Equatorial Guinea to advance the following phases of the GMH.
The primary section was accomplished in 2021 with the tie-back of the Alen subject to the ability, with first gasoline achieved that very same yr. The second section of the growth undertaking will contain processing gasoline from the Alba subject beneath new contractual phrases whereas the third section will convey a brand new gasoline subject on-line by processing gasoline from the Noble Power-operated Aseng subject. These consecutive phases straight tackle manufacturing decline in Equatorial Guinea whereas additional positioning Punta Europa as a world-class hub for the monetization of native gasoline.
Concurrently, Equatorial Guinea signed a bilateral commerce settlement with Cameroon in 2024 to mobilize transborder moist gasoline fields. The international locations agreed to collectively develop oil and gasoline tasks alongside their shared maritime borders, together with the Yoyo and Yolanda fields, the Etinde gasoline subject, the Camen subject and the Diega subject.
The latest cope with Nigeria will additional consolidate the Equatorial Guinea’s position as a regional infrastructure hub, boosting manufacturing and export capability whereas monetizing stranded reserves in Nigeria.
Because the voice of the African vitality sector, the African Power Chamber totally helps Nigeria and Equatorial Guinea on this transformative settlement, which guarantees to drive progress and prosperity throughout West Africa.
Distributed by APO Group on behalf of African Power Chamber.