Energy Capital & Power (ECP) is honored to announce Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea, will attend the region’s official energy conference, MSGBC Oil, Gas & Power 2022, to lead discussions on gas monetization, intra-African gas trade, and the future of a just transition on the continent.
The MSGBC gas rush has solidified the role that natural gas will play in Africa’s energy future.
The focus of this year’s MSGBC Oil, Gas & Power conference is on how gas is anticipated to change the regional energy environment.
The conference’s subject is “The Future of Natural Gas: Growth Using Strategic Investment and Policymaking.”
Equatorial Guinea, a key gas hub in its own right, has taken the initiative in building a robust and fiercely competitive gas economy, acting as a valued energy and knowledge partner for MSGBC countries as they try to create their own regional gas centers.
Equatorial Guinea is promoting gas commercialization on the back of regional gas trade in addition to making the most of its own 1.5 trillion cubic feet (tcf) of gas resources through the Gas Mega Hub (GMH) initiative, which aims to harness underutilized offshore domestic gas reserves as well as those in the region.
The nation is promoting domestic and regional gas utilization while laying the groundwork for a just transition in Africa through initiatives like the $330 million Alen Gas Monetization project, which supplies gas from the Noble Energy-operated Alen Field to onshore gas-processing facilities at Punta Europa.
The GMH has increased intra-African trade, made possible by the African Continental Free Trade Agreement, as well as launched a new age of gas monetization and revenue generation for Equatorial Guinea (AfCFTA). Equatorial Guinea has inked gas agreements with nearby neighbors such as Cameroon, Nigeria, the Republic of the Congo, and the Democratic Republic of the Congo, under the direction of H.E. Minister Lima, under which gas will be provided to and processed at Equatorial Guinea’s facilities.
Following that, the development of regional gas networks opens up new possibilities for the use of gas in Africa, spurring industrialisation, electrification, and socioeconomic expansion on the back of new energy output.
Additionally, Equatorial Guinea has made a compelling case for liquefied natural gas (LNG) exports from Africa to Europe at a time when the global market is turning to African gas as a result of the ongoing conflict between Russia and Ukraine, positioning the continent as Europe’s preferred partner in 2022 and beyond.
Equatorial Guinea sold 44 LNG shipments totaling 3.2 million tons to other countries in 2021 alone, with 11 of those shipments going to Europe. As additional gas is processed domestically and shipped to international markets in 2022, exports are anticipated to rise even more.
With knowledge-sharing and new Equatorial Guinea-MSGBC relationships at the forefront of Africa’s gas revolution, Minister Lima will contribute crucial insights into gas monetization, commerce, and exports by participating in MSGBC Oil, Gas & Power 2022.
“Equatorial Guinea is a perfect and valuable partner for all of the countries in the MSGBC region. With respect to gas, MSGBC nations from Mauritania to Guinea are all pursuing investment and development plans against the backdrop of substantial recent discoveries.
The information offered by other African powerhouses like Equatorial Guinea is helpful to regional actors as the MSGBC gas boom takes off and new investors and players flood the market.
Making a compelling argument for a just transition that is focused on gas monetization and electrification, Minister Lima’s participation at MSGBC Oil, Gas & Power 2022 will be crucial in guiding the dialogue on Africa’s gas future, according to Sandra Jeque, International Conference Director at ECP.
The MSGBC Oil, Gas & Power conference, which will be held in Dakar, Senegal, on September 1-2, 2022, will take place at a pivotal time for the MSGBC area.
The MSGBC nations stand to gain from Minister Lima’s participation, with Equatorial Guinea serving as a suitable partner for nations like Senegal and Mauritania as they establish competitive domestic gas markets. Equatorial Guinea is on the verge of its own economic revolution due to the development of natural gas.
Equatorial Guinea will be able to access new resource pools thanks to intra-west African collaborations, and the MSGBC region will enter a new era of gas monetization thanks to intra-African trade and the exchange of best practices.
Minister Lima will lead discussions in Dakar about utilizing regional alliances and the AfCFTA to speed up intra-African gas trade, enhancing gas commercialization and domestic utilization, boosting revenue generation through Africa-Europe LNG exports, and putting forth a just transition in Africa that focuses on natural gas.
The 20-tcf Yakaar-Teranga project, the 13-tcf BirAllah project, and other significant gas developments in the MSGBC region, such as the 15-tcf Greater Tortue Ahmeyim project, the 20-tcf Yakaar-Teranga project, and others, have the potential to fundamentally alter the socioeconomic landscape.
By attending the region’s premier event for the oil, gas, and power industries, Minister Lima is