Petroleum Africa
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Thursday, November 26, 2015
In Equatorial Guinea the Ministry of Mines, Industry and Energy announced that national gas company will begin marketing the government’s share of LPG produced at Marathon’s Alba Plant, on Bioko Island. Sonagas has opened negotiations with offtakers and will begin marketing its LPG production stake to international buyers from the outset of 2016.
Sonagas is a 20% shareholder, alongside Marathon Oil and Noble Energy, in LPG production at the Alba Plant, situated at the Punta Europa gas complex. The Alba Plant partners, Sonagas and the government have agreed that Sonagas will market its 20% share of LPG production on behalf of Equatorial Guinea.
The government said that this move is a major step for local content in the country.
Gabriel Mbaga Obiang Lima, Minister of Mines, Industry and Energy, stated: “Sonagas marketing its share of LPG fulfills one of the major objectives envisaged by the State in creating the company a decade ago – that of a national gas company with capacity across the spectrum of gas activities. Sonagasis evolving to take on more of the gas business, not only as a shareholder at Punta Europa, but throughout the entire value chain.”
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