Summary
If production, legal and logistical hurdles can be surmounted, Equatorial Guinea will be able to make an argument for adopting regional rather than national frameworks to support the development of offshore African gas fields. [Gas in Transition, Volume 1, Issue 7]
by: Jennifer DeLay
Equatorial Guinea began producing oil in 1995, but it was not able to ride the crude wave for long. Instead, it saw production peak in 2004, less than a decade after oil began flowing from Zafiro, an offshore field within the Block B licence area.
Even so, the country has been able to maintain a position in the global hydrocarbon industry. It did so first by shifting the focus of development operations at Alba, an offshore field that Marathon Oil brought on stream in 1991, from gas condensate to natural gas, and then using the gas to support the establishment of the EG LNG gas liquefaction plant and petrochemical complex at Punta Europa on Bioko Island.
And then in 2018, Equatorial Guinea took pre-emptive action in the face of forecasts showing that production at Alba was set to peak within the next few years. It unveiled a plan for the establishment of a larger gas complex – a Mega Gas Hub (MGH) capable of handling production from local fields, as well as…
Source link : https://www.naturalgasworld.com/equatorial-guineas-mega-gas-hub-project-faces-hurdles-gas-in-transition-93239
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Publish date : 2021-11-19 08:00:00
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