Perenco has approved the construction of a liquefied natural gas (LNG) facility at the Cap López oil terminal in Gabon. The company has reached the Final Investment Decision shortly after the official presentation to the Minister of Oil and Gas in Libreville, as well as the subsequent technical approval of the authorities at the end of last year.
The Cap López terminal will be transformed into an oil and gas terminal, with an investment of more than one billion dollars. The construction period is set at three years, after which Gabon would become self-sufficient in butane gas (LPG) and an LNG exporter. Annual production of butane gas would reach 20,000 tons and LNG production is expected to reach 700,000 tons of LNG. The volumes of fresh butane are in addition to the 15,000 tonnes of LPG that Perenco will produce annually in Gabon once its new facility goes into production in 2023.
To ensure operational continuity throughout the terminal’s construction phase, a VLCC vessel has been mobilized and connected to the Cap López facilities. The tanker has a capacity of 2 million barrels and has already carried out the first withdrawals of crude oil and will serve to store all the production that arrives at the terminal.
“The FID for a new LNG production unit in Gabon is further proof of Perenco’s leading gas strategy in Africa. It also marks an important milestone for Perenco’s association with Gabon, a country where we have been operating for thirty years. We are pleased to invest to help meet Gabon’s future energy demands, supporting the country to reduce its emissions and delivering a project that will also create hundreds of direct and indirect employment opportunities,” said the Group CEO of Perenco, Benoît de la Fouchardière. .
To contact the author, please email andreson.n.paul@gmail.com
