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Thursday, April 12, 2018
Equatorial Guinea will be supplying LNG to Togo under a recent MoU signed between the two countries. Minister of Mines, and Hydrocarbons Gabriel Mbaga Obiang Lima of Equatorial Guinea and Togo’s Minister of Mines and Energy Marc Dèdèriwè Abli-Bidamon signed a cooperation agreement to facilitate the trade of the resource between the two countries.
The new MoU, signed last week by the ministers, creates a framework for Togo to import LNG produced in Equatorial Guinea. The agreement is part of the LNG2Africa initiative, in which Equatorial Guinea is promoting the utilization of LNG within Africa, using gas sourced and processed in Africa. Togo will study the import, regasification of LNG, and its use for power generation.
“As an established LNG producer since 2007, and with a floating LNG in the works, we know the power of this fuel to transform Africa,” said Lima. “It is imperative that African nations monetize their gas, and that energy users benefit from this cheaper, cleaner, locally produced resource. Equatorial Guinea is committed to working with its neighbors in the region to find solutions that bring benefit to us all. We look forward to a strong partnership with Togo.”
Companies Elite Construcciones, Norgas and General Electric took part in the visit and discussed the potential for small scale LNG trade within West Africa. Following the signing of the agreement, Lima visited Lomé port.
In February, speaking at the Africa Future Energy dinner held at CERAWeek by IHS Markit, Lima cited the need to bring down expensive import bills for fuel to power African nations. Lima said that the answer is Equatorial Guinean small scale LNG. “We are already working with Togo and Ghana to deliver small scale LNG. We prefer our LNG go to Africa than the EU. It saves money for Africans…”
In his customary very entertaining style, he also said “We are small, but we are smartest! Island people are very smart. You know, like Japan. We are going to beat the Unites States in supplying African nations with LNG.”
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