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Friday, August 16, 2024
Equatorial Guinea and Nigeria have signed an agreement for the construction of the Gulf of Guinea Gas Pipeline Project. The deal will in part aim to boost utilization of the liquefied natural gas plant at Punta Europa on Bioko Island seeing gas transported via pipeline from Nigeria to Equatorial Guinea.
The deal, which was signed August 14 by the respective heads of state, Teodoro Obiang Nguema Mbasogo and Bola Ahmed Tinubu during the latter’s visit to Malabo, covers plans for a pipeline, LNG facility feedstock and gas sales to power companies and industrial users, and looks to benefit the greater West Africa region.
“This agreement marks a significant milestone in Equatorial Guinea’s GMH initiative, reinforcing our position as a regional leader in gas monetization. By partnering with Nigeria on the Gulf of Guinea Gas Pipeline, we are not only strengthening bilateral cooperation but also regional collaboration to ensure a secure and reliable supply of gas for our LNG facility at Punta Europa for years to come. This project will unlock immense economic value for both our nations, driving sustainable development and energy security across the region,” stated Antonio Oburu Ondo, Minister of Mines and Hydrocarbons of Equatorial Guinea.
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