Could gas-to-power help Equatorial Guinea develop a regional power economy?

For Equatorial Guinea, which enjoys a strategic position in the Gulf of Guinea, gas-to-power offers the potential to anchor the development of a regional power economy. Given its current energy output and relatively small population of 1.4 million, the country has been able to meet domestic energy demand with self-produced power to date.

Is gas-fired power generation a viable solution for Equatorial Guinea?

As Equatorial Guinea emerges as a leader in regional gas monetization, gas-fired power generation represents an attractive solution to fulfilling national electrification objectives, while meeting global decarbonization demands.

Does Equatorial Guinea have a gas-to-power plant?

While the Turbogas plant has been Equatorial Guinea’s largest power plant for over a decade, the Ministry of Mines and Hydrocarbons has been pushing to further develop the use of natural gas for local consumption through gas-to-power construction projects.

Will Equatorial Guinea build a LNG storage and regasification plant?

In August 2019, Equatorial Guinea announced its plans to develop an LNG storage and regasification plant, to be built at the port of Akonikien on the southern border of the mainland by local contractor Elite Construcciones.

How much oil does Equatorial Guinea produce a day?

In 2022, the country produced less than 100,000 barrels of oil per day (bopd) according to OPEC data. Electricity consumption in Equatorial Guinea in 2015 was 36 kilotonnes of oil equivalent (ktoe). The country produces all of the energy it consumes.

Should oil companies lift LNG cargoes in Equatorial Guinea?

As a result, Equatorial Guinea is inviting independent and state-backed oil companies to lift LNG cargoes, with incentives of an attractive royalty scheme and strong government support.