Latest news with #GasMegaHub
Zawya
09-04-2025
- Business
- Zawya
United States (U.S.) Legislation Seeks to Overhaul Bank of Central African States (BEAC)-Led Forex Policies that Reduce Central African Economic and Monetary Community (CEMAC) Investment by $45B
On March 25, the proposed 'Central African Exploitation and Manipulation of American Companies Act' ( was brought before U.S. Congress, seeking to suspend U.S. support for International Monetary Fund (IMF) actions involving member states of the Central African Economic and Monetary Community (CEMAC) until accurate foreign reserve disclosures are made. The bill was introduced by Congressman Dan Meuser, U.S. Representative for Pennsylvania's 9 th congressional district, and Congressman Bill Huizenga, U.S. Representative for Michigan's 4 th congressional district, and referred to the Committee on Financial Services. The African Energy Chamber (AEC) ( strongly endorses this bill, which signals to the Bank of Central African States (BEAC) that their opaque and restrictive foreign exchange policies are no longer acceptable, and stands in solidarity with U.S. lawmakers in calling for BEAC to act with pragmatism and common sense to avert further economic harm to the region. The AEC has consistently taken a strong stance against the foreign exchange regulations imposed by the BEAC, describing these policies as 'absurd,' 'hostile to foreign investors' and out of step with global financial norms. By restricting the flow of foreign currency in the region, these regulations undermine investor confidence, delay payments to contractors, prevent repatriation of capital and inject unnecessary risk into energy projects. The regulation stands to reduce foreign investment in the CEMAC region by $45 billion by 2050 while reducing government revenue for CEMAC countries by $86 billion. The impacts of this cannot be overstated. Rich in oil and gas resources, the CEMAC region has the potential to leverage its natural resources for large-scale and long-term economic growth. American operators – with their expertise and strong presence in the region – would play an instrumental part in realizing this goal. These include energy majors such as Chevron, ExxonMobil, Vaalco Energy and more. Beyond US firms, other major players such as TotalEnergies, Trident Energy, BW Offshore, Eni and Perenco stand to hold back on investments, significantly impacting the region's energy future. Without these firms, the region stands to lose out on major projects. Equatorial Guinea's Gas Mega Hub, for example, will monetize the region's gas resources. Led by Chevron and Marathon Oil, the project processes gas from the Alba field at the Punta Europa LNG facility. The agreement for the second phase – which would tie in the Aseng field – has already been signed while agreements with neighboring Cameroon and Nigeria to import gas are in place. Cameroon is making strides towards unlocking value from its underdeveloped gas resources while Gabon is progressing an FLNG facility that would produce 700,000 ton per year of LNG and 25,000 tons of LPG. Developed by Perenco, the project is on track to start in 2026. The Republic of Congo is scaling-up its LNG capacity at the Eni-led Congo LNG project. The company targets 3 million tons per annum in 2025. In tandem, aligned with national goals to increase oil output to 500,000 barrels per day, TotalEnergies is investing $600 million in the country's Moho Nord field. However, these efforts will only succeed if BEAC creates a more transparent and stable monetary environment. The introduction of the CEMAC Act marks a significant shift in how the international community views BEAC's policies. U.S. lawmakers, reflecting the views of the AEC and many African business leaders, are taking decisive action where African governments should have acted long ago. African businesses overwhelmingly support this legislation because it holds BEAC accountable and compels much-needed reforms. For years, the AEC has been calling on African leaders to push BEAC into adopting more transparent, investor-friendly policies. Now, with the U.S. stepping in, the pressure is on BEAC to respond. By withholding U.S. support for IMF actions, the proposed legislation signals that these monetary policies have undermined global confidence and now present a risk to the international financial system, which could have a domino effect on development financing, debt restructuring efforts and future IMF programs. 'We have always called on BEAC to behave in a reasonable fashion and look at what is in the best interest of Africans and not receive job- and investment-killing pressure from the IMF that would deter investment and lead CEMAC countries into sanctions or trade-restrictions that will bring its citizens into further poverty. BEAC needs to act better and this is a wake-up call for us to understand that investors putting money into the region can no longer be treated in ways that do not act in the best interest of both citizens and investors. They have a new opportunity to get back to the table and do the right thing by getting rid of these regulations that are keeping our region behind. We at the AEC understand the position of the U.S. congress, and as people who have always called for pragmatic and commonsense approach to these issues, we think that we have an obligation to protect investors while encouraging growth, jobs and opportunities for CEMAC countries,' states NJ Ayuk, Executive Chairman of the AEC. The AEC is committed to supporting dialogue and collaboration between public and private sector stakeholders to ensure these critical changes are made. It is clear: BEAC's outdated foreign exchange policies are no longer acceptable, and reform is urgent. The potential passage of the CEMAC Act is a wake-up call, and the AEC urges BEAC and policymakers in Central Africa to view this as an opportunity to create a fairer, more functional financial ecosystem that will attract international capital and support the region's industrial ambitions. Central Africa's energy transition, its economic future and its ability to compete on the global stage are all at stake. By reforming BEAC's mandate and aligning its policies with global standards, the region can build the trust and stability it needs to attract the investment essential for its long-term prosperity. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
04-04-2025
- Business
- Zawya
Invest in African Energy (IAE) 2025 to Highlight Growth Opportunities in Africa's Downstream Supply Chain
The upcoming Invest in African Energy (IAE) 2025 Forum will host a high-level panel – Downstream Beneficiation: Supply Chain Development for Optimal Performance – as the continent aims to enhance energy security, reduce import dependence and maximize the value of its natural resources. The session will explore how the expansion of Africa's downstream sector can strengthen supply chains, enhance refining capacity and drive sustainable economic growth through infrastructure investment and strategic partnerships. As Africa's energy landscape evolves, optimizing downstream operations is critical to unlocking the full potential of the continent's natural resources. This session will focus on closing the infrastructure finance gap by addressing key challenges such as upgrading refineries, expanding storage and distribution networks, and developing service stations, bottling plants and transport fleets. Panelists will also examine the role of strategic hubs – such as Egypt's petrochemical industry, Equatorial Guinea's Gas Mega Hub and Algeria's emerging green hydrogen sector – in bolstering Africa's supply chain efficiency, along with key regional projects like the Central African Pipeline System and the Lobito Corridor linking Angola, Zambia and the Democratic Republic of Congo. IAE 2025 ( is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit To sponsor or participate as a delegate, please contact sales@ Moderated by James Gooder, VP Crude, Argus Media, the panel will feature industry leaders offering key insights into Africa's downstream sector. Speakers include Anibor Kragha, Executive Secretary, African Refiners&Distributors Association; Tarik Berair, Commercial Development Manager, Technip Energies; Fernando Covas, Executive Director, S&P Global Commodity Insights; James Bullen, Head of Downstream, Petredec and Michael Kelly, Chief Advocacy Officer, World Liquid Gas Association. Africa's downstream investment climate is undergoing significant transformation, with several major projects driving the sector's growth including Nigeria's 650,000-bpd Dangote Refinery, Angola's 200,000-bpd Lobito and 100,000-bpd Soyo refineries, and Algeria's 100,000-bpd Hassi Messaoud Refinery. Despite recent refinery closures, South Africa also maintains a well-developed fuel distribution network, retail stations and petrochemical production, while Mozambique is emerging as a key LNG hub, with the Coral South FLNG project already operational and the Rovuma LNG and Mozambique LNG projects currently under development. Despite these advancements, challenges remain in securing adequate financing for infrastructure upgrades and supply chain expansion. Addressing these gaps will require coordinated efforts from governments, private investors and industry stakeholders to develop resilient and efficient downstream operations. The IAE 2025 downstream panel will provide a platform for stakeholders to discuss actionable strategies that ensure Africa's energy sector remains competitive, sustainable and responsive to global demand. Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
08-02-2025
- Business
- Zawya
Equatorial Guinea Set to Boost Exploration by Attracting New Investors in 2025
Equatorial Guinea is taking decisive steps to revitalize its upstream sector, with plans to launch a new licensing round in 2025 aimed at increasing exploration and production. With the global energy landscape evolving and production from mature fields declining, the promotion of new acreage is essential to ensuring long-term energy security and continued revenue generation for Equatorial Guinea. A successful licensing round will attract much-needed capital, bring in new technologies and create opportunities for both international and local players to participate in the country's energy future. Under the leadership of Minister of Mines and Hydrocarbons, Antonio Oburu Ondo, Equatorial Guinea has demonstrated a proactive approach to fostering investment in its hydrocarbon sector. While technical details have not yet been disclosed, the upcoming round is expected to build on past successes, reinforcing the country's position as a key oil and gas producer in Africa. By opening new opportunities for exploration, Equatorial Guinea is taking bold steps to unlock its full resource potential and ensure a sustainable supply of energy for years to come. 'The importance of exploration cannot be overstated. New licensing rounds are the lifeblood of Africa's upstream industry, ensuring that production levels remain strong and that new discoveries continue to fuel our economies. Equatorial Guinea's commitment to advancing exploration is a testament to its strategic vision, and the AEC fully supports these efforts,' states Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber. Equatorial Guinea's last licensing round, held in 2019, offered 27 blocks for exploration and attracted significant industry interest, with 53 companies participating and 17 bids submitted. Blocks available in the upcoming round will include Block H and Block 02, previously operated by Atlas Oranto Petroleum and PanAtlantic Energy (Vanco Energy). The licensing round is part of a dynamic wave of activity unfolding in the country. In November, Trident Energy announced successful production from its C-45 infill well, one of two wells in its ongoing infill drilling program at the Ceiba and Okume Complex in Block G, adding over 5,000 barrels per day. In June 2024, Chevron signed new PSCs for blocks EG-06 and EG-11, outlining minimum investment commitments and exploration programs and building on the company's existing interests in the Alen, Aseng and Yolanda fields. Through its affiliate Noble Energy and in partnership with Marathon Oil, Chevron is also advancing the next phases of the Gas Mega Hub. Phase II will focus on processing gas from the Alba field, while Phase III will integrate gas from the Aseng field. Meanwhile, VAALCO Energy is set to lead a drilling program and field development push for Block P, having finalized a PSC for the asset in August. National oil company GEPetrol is also focused on boosting production capacity, with the Zafiro field at the center of its revitalization efforts. After taking over operatorship from ExxonMobil in June 2024, GEPetrol launched a multi-phase development plan to extend production from the country's largest oil field in offshore Block B. Phase 1, set to begin in early 2025, will reconnect selected wells that were previously produced via tiebacks to the Zafiro Producer floating production unit. Running parallel to this, Phase 2 will focus on optimizing well production and costs, while Phase 3 will involve a full-scale redevelopment of the field from 2025 onward. In April 2024, GEPetrol awarded Petrofac a five-year, $350 million technical services contract, with the partnership supporting the world-class operation across onshore bases, an FPSO and a platform and reinforcing efforts to enhance production. Beyond bolstering domestic production, a successful licensing round will have far-reaching benefits, including job creation, infrastructure development and enhanced local capacity. It will also strengthen the country's role as a regional energy hub, providing additional supply to both domestic and international markets. Equatorial Guinea's upcoming licensing round comes at a crucial time when Africa is positioning itself to maximize the value of its resources amid shifting global energy policies. By attracting new investments and driving exploration, the country is reinforcing its commitment to energy security, economic diversification and long-term industry sustainability. African Energy Week (AEW): Invest in African Energies is the official home of African exploration for oil and gas, Farm In and Farm Out and technical sessions. AEW: Invest in African Energies looks forward to working alongside Equatorial Guinea in promoting this opportunity and ensuring that Africa remains a competitive and attractive destination for energy investments. Distributed by APO Group on behalf of African Energy Chamber.
