Petroleum Africa
Find us on: 
Tuesday, September 19, 2017
Equatorial Guinea will be supplying fellow African nation, Burkina Faso, with LNG. The government, through the Ministry of Mines and Hydrocarbons signed a MoU with 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,” said Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea. “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 set to add to its LNG production totals when the planned Fortuna FLNG development reaches fruition. The project is on track to reach FID 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.
" alt="Sintana to Expand Asset Base in Namibia with Acquisition">
" alt="Luanda Gives Afentra Nod for Azule Acquisition">
" alt="TotalEnergies Increases Stake in ROC’s Giant Moho Field and Sells Mature Assets">
" alt="Africa’s $824 Billion Debt Burden and Opaque Resource-Backed Loans Hinder its Potential">
" alt="African Refiners Ponder Threats to Energy Security for Africa as Transition Takes Center Stage">
" alt="Invictus Inks Gas Sales MOU to Deliver Power to Eureka Gold Mine">
" alt="Globeleq Acquires the 25 MWp Winnergy Solar PV Plant in Egypt">
" alt="Sintana Completes Well Testing at Mopane 1-X in Namibia">
