BizNis Africa
Latest News
Africa offers investors major return on investment
Africa offers investors the largest return on investment, Chairman...
General Electric unveils future of work report in Nigeria
General Electric Nigeria, today, 12 December 2017, released a...
Elumelu named first African to receive Dwight D. Eisenhower Global Entrepreneurship Award
The Business Council for International Understanding (BCIU), a non-profit...
22 ON SLOANE to host Vusi Thembekwayo book signing event
22 on Sloane, one of the largest start-up campus...
JSE announces Steinhoff International verdict
Following the release of a statement in relation to...
European Investment Bank signs €250 million financing for SMEs in Egypt
The European Investment Bank (EIB) signed a financing agreement of...
Chief Wole Olanipekun
Chief Wole Olanipekun SAN, is the founder and principal...
New Revenue opportunities for African Telcos remain at 1% per annum
Although Africa’s largest telco operators are generally showing growth...
Afreximbank says lack of trade information prevents Intra-African Trade
Limited knowledge about trade opportunities in African countries was...
MainOne, Tizeti, Facebook partner for Internet connectivity in Lagos
MainOne and Tizeti today, 11 December 2017, announced the...

Gabriel Mbaga Obiang Lima, Equatorial Guinea Minister of Mines and Hydrocarbons

The Ministry of Mines and Hydrocarbons, representing the Government of Equatorial Guinea, has signed a memorandum of understanding with the Government of Burkina Faso to supply the West African country with LNG and build critical infrastructure to import, store and transport gas.

The initial three-year agreement compels both sides to negotiate and sign an LNG sales and purchase agreement (SPA) and a terminal use agreement (TUA) that will be the basis for their first LNG exchange.

The MoU also calls for Equatorial Guinea to explore and produce oil and gas in Burkina Faso.

“We are very pleased to strike this agreement and be given the opportunity to supply our African brothers in Burkina Faso with crucial gas resources,” says Gabriel Mbaga Obiang Lima, Equatorial Guinea Minister of Mines and Hydrocarbons.

“This collaboration with Burkina Faso, part of our LNG 2 Africa initiative, highlights the important responsibility of African countries to cooperate in the energy sector and build the necessary infrastructure to strengthen our economies.”

As part of the agreement, both sides will commission a technical study for the construction of regasification and LNG storage terminals and will exchange knowledge and data. They will also work to build regasification and storage terminals in Burkina Faso and transport infrastructure, either by pipeline or LNG carrier.

Equatorial Guinea is one of Africa’s biggest LNG producers, exporting 3.4 million tonnes per annum of LNG to destinations worldwide. It is committed to significantly expanding its export capacity through the 2.2 million tonnes per annum Fortuna FLNG project, which is on track to reach final investment decision by the end of the year. When it goes online in 2020, Fortuna will be Africa’s first deepwater FLNG project.

In May, Equatorial Guinea entered into a binding agreement with the OneLNG joint venture to explore the liquefaction and commercialization of natural gas in offshore blocks O and I. Bringing online new LNG volumes will enable Equatorial Guinea to sell gas to higher priced markets in Africa and beyond while retaining a share in profits for onward marketing.

Leave a Reply

Ver peliculas online
%d bloggers like this: