Angolan Minister on Gas Monetization

Wednesday, April 24, 2019

In a recent interview with Petroleum Africa, Angola’s Minister of Petroleum, Dr. Diamantino Azevedo, discussed gas monetization in the southern African country. According to H.E. Azevedo, over the years Angola had previously somewhat missed out on the opportunity that its natural gas resource offers.

“The country currently produces about 3 billion cubic feet a day of associated natural gas. In the past, much of this gas was burned, missing the opportunity of its economic and financial recovery, in addition to the evils caused to the environment.”

Azevedo said in order to take advantage of this resource in the then discovered deepwater oil fields, it was decided to build a gas liquefaction plant – Angola LNG. Currently, the plant is the only project for gas monetization that Angola has. However, the Minister said that it stands as an “example to leverage other industrial projects of gas monetization, such as fertilizer factories, etc. Several projects have been proposed.”

He added that the Ministry of Mineral Resources and Petroleum are in the process of preparing the country’s Gas Master Plan, which will assist in the definition of feasible gas monetization projects.

For the full interview, be sure to catch Petroleum Africa’s upcoming magazine issue. Sign up for a risk-free copy here.

Image courtesy of Africa Oil & Power

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