Petroleum Africa
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Thursday, October 25, 2018
Victoria Oil and Gas’ subsidiary, Gaz du Cameroun (GDC), saw progress on its CNG business. The company, in mid-2018 entered into a partnership with Naturelgaz Sanayi ve Ticaret A.S. (Naturelgaz) on CNG projects. The partnership allows GDC to take advantage of Naturelgaz’ expertise within this field. It also allows from the company to reach larger customers beyond the pipeline infrastructure.
GDC and Naturelgaz have completed positive feasibility and marketing studies on the CNG project in Cameroon. The marketing studies by GDC/Naturelgaz have concluded that five types of customers would use CNG in Cameroon; thermal, off-grid power generation, commercial trucking, public transportation, and domestic transportation.
The studies indicate the near-term potential of the CNG market, within a 60 km radius of the Logbaba facilities, is 2 Mmscf/d thermal and 2 Mmscf/d industrial power. The pricing of CNG will be benchmarked against competing liquid fuels. To date, 20 customers have expressed interest in CNG within a 60 km radius of Douala.
The partnership will provide CNG infrastructure for customers in and around Douala, with the intention of rolling the concept out further in the longer term. GDC will supply natural gas, land space and support services to the CNG production facilities, while Naturelgaz will design, build and operate the CNG production, distribution and offloading facilities. Negotiations on the commercial structure of this initiative are ongoing and expected to be concluded during Q4 2018.
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