Latest news with #MarineXII
Time of India
23-05-2025
- Business
- Time of India
Global LNG trade grows 2.4% to 411.24 MT in 2024; Asia leads rebound in demand
New Delhi: Global liquefied natural gas (LNG) trade grew by 2.4 per cent in 2024, reaching 411.24 million tonnes (MT), connecting 22 exporting markets with 48 importing markets, according to the 2025 World LNG Report released by the International Gas Union (IGU). The Asia Pacific region remained the largest LNG exporting region, with volumes rising to 138.91 MT in 2024—an increase of 4.10 MT over the previous year. The report highlighted a sharp decline in European LNG imports , which dropped by 21.22 MT to 100.07 MT in 2024. The fall was attributed to high storage levels at the start of the year, weak demand, and steady pipeline gas flows. Conversely, LNG demand in Asia rebounded during the year. China and India recorded strong year-on-year growth in spot LNG imports, driven by extreme heat events, ongoing infrastructure expansions, and increased use of gas in power generation. Global LNG liquefaction capacity increased by 6.5 million tonnes per annum (MTPA) in 2024, taking the total to 494.4 MTPA by year-end. However, only 14.8 MTPA of new liquefaction capacity reached final investment decision (FID), the lowest annual approval level since 2020. This marked a significant drop from the 58.8 MTPA sanctioned in 2023. Floating LNG (FLNG) capacity also expanded in 2024, with the Marine XII FLNG project in Congo and Altamira Fast LNG in Mexico entering operation. Total operational FLNG capacity stood at 14.35 MTPA as of early 2025. Commenting on the findings, IGU Secretary General Menelaos (Mel) Ydreos said, '2024 proved to be another vibrant year for the LNG sector's rapid evolution. The trajectory of LNG growth persisted, bolstered by the introduction of two new exporting markets, while global LNG prices have eased compared to prior years.' He added, 'Nonetheless, this market stability remains precarious, highly influenced by significant uncertainties surrounding market and project dynamics, geopolitics, trade, and regulatory policies.' The report also flagged growing regulatory scrutiny on methane emissions. 'The increasing global regulatory focus on methane emissions, particularly from the EU, Japan, and South Korea, is resulting in greater transparency and compliance obligations within the LNG trade,' Ydreos noted.
Zawya
17-04-2025
- Business
- Zawya
Congo Energy & Investment Forum Returns to Brazzaville in March 2026
The Republic of Congo will host the second edition of the Congo Energy&Investment Forum (CEIF) from March 10-12, 2026. As the country gears up for a significant increase in its oil output over the next three years and plans to strengthen its position in the natural gas sector, CEIF – under the theme Invest. Build. Empower: Transforming Congo's Energy Landscape – underscores Congo's growing role in the global energy landscape. The 2025-2026 period promises to be an exciting time for Congo's energy sector. Set to begin operations by December 2025, Phase 2 of the Congo LNG project will enable energy major Eni to increase gas production from 0.6 million tons per annum (mtpa) to 3 mtpa. Meanwhile, the Fouta refinery construction project is expected to start up by the end of the year and is set to produce 2.5 million tons of petroleum products per year – including diesel and gasoline – upon commissioning. These developments highlight the commitment of major operators to position Congo as a global oil and gas producer, with upcoming regulation and investments further supporting this goal. In the gas sector, the country is targeting 3 million tons of LNG per year by this year from Eni's Marine XII development – featuring the Congo LNG project. This target comes on the heels of Congo's February 2024 milestone where the country exported its first LNG cargo from the Tango FLNG facility. The Republic of Congo boasts over 10 trillion cubic feet of proven natural gas resources and is set to unveil its Gas Master Plan, launch a National Gas Company and release a new Gas Code this year. Driven by a series of landmark projects spearheaded by industry giants including TotalEnergies, Trident Energy and Perenco, Congo aims to nearly double oil output from the current 280,000 barrels per day (bpd) to 500,000 bpd by 2027. With aims to harness untapped reserves and maximize the potential of existing assets, this strategy will focus on expanding production in both new and mature fields. To support this goal, the country is set to launch a new international oil and gas licensing round this year. This initiative is expected to usher in a new wave of investment in sub-Saharan Africa's third-largest oil producing market. The licensing round is designed to attract international oil companies with technical expertise and financial capacity to develop deepwater resources, as well as local and independent companies to exploit marginal fields. At CEIF 2025, Congo unveiled plans to double its power generation capacity to 1,500 MW by 2030, with a strong focus on renewable energy projects. The country holds an estimated hydropower potential of 27,000 MW, though only 1% of this resource has been developed. As such, the government has identified several key projects, including water diversion and storage techniques, to maximize hydropower output. Through a series of dedicated panel sessions, technical workshops and presentations at CEIF 2026, the event will provide an in-depth look at Congo's investment landscape. The conference will highlight crucial developments across the country's energy sector as well as the broader strategic importance of Congo's energy ambitions. 'CEIF 2026 serves as a vital platform to showcase Congo's dynamic energy transformation. As the country scales up oil and gas production and prioritizes renewables, the conference fosters meaningful dialogue, attracts investment and strengthens partnerships essential to unlocking the full potential of Congo's evolving energy and investment landscape,' states Sandra Jeque, Events and Project Director at Energy Capital&Power. Supported by the Ministry of Hydrocarbons and national oil company Société nationale des pétroles du Congo, CEIF 2026 will bring together local, regional and international delegates to explore new partnership opportunities across the energy and investments sectors. This highly anticipated event builds on the success of the inaugural edition, which convened government officials, top investors, IOCs, NOCs, independents and industry experts who shared vital insights into Congo's oil, gas and energy landscape – paving the way for expanded collaboration and professional networking in 2026. For more information and to register your interest for CEIF 2026, please visit Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
27-03-2025
- Business
- Zawya
Congo Energy & Investment Forum (CEIF) 2025: Legal, E&P Experts Say Congo Ready for Increased Hydrocarbon Investment
With the upcoming establishment of a National Gas Company, the launch of a new Gas Code and development of a Gas Master Plan, the Republic of Congo is on a clear path to mobilizing capital to drive growth in its natural gas sector. Congo is home to an estimated 10 trillion cubic feet of natural gas, which is located in offshore fields such as Litchendjili, Néné, Minsala and Nkala, within the Marine XII license. As such, a strong lineup of legal and hydrocarbons experts participated in a panel session – Revitalizing the Hydrocarbons Sector by Unlocking Investment – at the inaugural Congo Energy&Investment Forum (CEIF) on March 26 in Brazzaville where they discussed how investors can drive growth in Congo's natural gas sector through favorable policies and emerging trends. 'The government [of Congo] is planning to establish a national gas company to encourage private investment and build up public-private partnerships,' stated Yves Ollivier, Managing Director of legal firm CLG Congo, adding, 'This will be the equivalent to the SNPC [ Société Nationale des Pétroles du Congo ] in terms of gas.' Congo's regulatory framework has evolved to support major developments in the natural gas sector, which include energy major Eni's Congo LNG project – Congo's first natural gas liquefaction initiative. As such, the upcoming Gas Code aims to establish a legal and regulatory framework to attract investment in gas exploration and production. 'We are in an environment where conditions are united so that we have the potential for returns on investment,' stated Yannick Mouamba, Country Director of Congo, Gabon and Sao Tome and Principe, SLB, adding,' Looking at the landscape of opportunities, this is the right place to run technology and show the value of what the country can offer.' Meanwhile, the Gas Master Plan – launching this year – will provide a strategic roadmap for investment, infrastructure development and resource management in the gas industry. This initiative is designed to create a robust framework for investors, laying the groundwork for sustainable growth and the achievement of the country's industrial goals. 'When investors want to invest their money, they are looking for sustainable returns,' stated Rene Awambeng, Founder and Managing Partner, Premier Invest, adding, 'Africa is richly endowed in hydrocarbons and for Congo to attract investments, you need to create the right enabling environment.' In addition to natural gas, Congo's National Oil Company SNPC has ambitious plans to increase the country's oil production to 500,000 barrels per day (bpd) by 2027. To attract new investment in exploration and production, Congo is leveraging new policy reforms and plans to launch a new licensing round this year, which will focus on onshore and offshore fields. 'In complex geological domains, such as onshore Congo, we look at the impact of decreasing cost to the customer. Most importantly, we also look at an increase in accuracy of data, which leads to a reduction in risk,' stated Jevon Hilder, Senior Business Development Manager, TGS. 'The ambition is there,' stated Anastasia Deulina, CFO, Afentra, adding, 'The production objective of 500,000 bpd is admirable, and we very much would love to be part of that story. There is a lot of support from the government.' The inaugural Congo Energy&Investment Forum, taking place March 24-26, 2025, in Brazzaville, under the highest patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo, brings together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
25-03-2025
- Business
- Zawya
Congo Could Double Gas Production by 2027, Says S&P Global Commodity Insights at the Congo Energy & Investment Forum (CEIF) 2025
The Republic of Congo is expected to more than double natural gas production by 2027 according to an outlook by commodity company S&P Global Commodity Insights – technical partner of the Congo Energy&Investment Forum (CEIF). This production increase will be driven primarily by Chinese developer Wing Wah's Banga Kayo and energy major Eni's Marine XII FLNG developments. The outlook was announced by Lucinda Valerie Ross, Senior Technical Research Analyst at S&P Global Commodity Insights, during a Technical Presentation titled, Assessing the Role of Deepwater Gas in the Republic of Congo's Energy Strategy, at CEIF in Brazzaville. 'Natural Gas production has historically been low [in Congo]. In response to increased production, Eni has been able to leverage pre-existing FLNG vessels in a phased approach to achieve first gas last year,' Ross stated, adding, 'We need to attract investment to these projects in order to ensure sustained increased production in Congolese gas.' The Marine XII project is set to produce 2.4 million metric tons of LNG annually in 2025. Production is expected to increase to 4.5 billion cubic meters per year by 2026, with LNG used for both domestic consumption and export. Meanwhile, over a period of 25 years, the Banga Kayo permit, plans for a cumulative production estimated at nearly 30 billion cubic meters of associated gas. The project will be carried out in four phases, each progressively increasing the gas treatment and valorization capacity to meet local and regional LNG and LPG demand. Natural gas currently accounts for over 70% of electricity generation in Congo. Meanwhile, natural gas, along with oil production, accounts for 35% of the country's GDP and 75% of its exports. Distributed by APO Group on behalf of Energy Capital&Power. About the Congo Energy&Investment Forum: The inaugural Congo Energy&Investment Forum, set for March 24-26, 2025, in Brazzaville, under the highest patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo, brings together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities.
Zawya
26-02-2025
- Business
- Zawya
Congo Energy & Investment Forum (CEIF) 2025 Technical Workshop to Support Congo's Ambitious Liquefied Natural Gas (LNG) Targets
The Republic of Congo is expected to export an estimated 4.5 billion m 3 of LNG in 2025 as part of the second phase of its Congo LNG project. Developed by energy major Eni, the project's first phase began operations in late 2023 following the installation of the country's first floating LNG (FLNG) plant at the Marine XII offshore license. A major milestone in Congo's natural gas journey was reached in February 2024, when the country's first LNG cargo departed from Pointe-Noire to Italy. Given Congo's immense potential to become a major gas hub in Central Africa, a technical workshop at the inaugural Congo Energy&Investment Forum (CEIF) – taking place in Brazzaville from March 24-26 – will explore cutting-edge technologies and practical solutions for unlocking and monetizing gas resources in the region. The workshop will cover the design, planning and deployment of advanced shipping solutions, including LNG carriers, as well as the development of floating gas infrastructure, such as floating storage and regasification units and FLNG facilities. The inaugural Congo Energy&Investment Forum, set for March 24-26, 2025, in Brazzaville, under the patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationales des Pétroles du Congo, will bring together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. The event will explore the latest gas-to-power projects and provide updates on ongoing expansions across the country. Congo holds an estimated 10 trillion cubic feet of proven gas reserves, primarily in offshore fields such as Litchendjili, Néné, Minsala and Nkala, located within the Marine XII license operated by Eni's Congolese subsidiary. With substantial recoverable reserves in fields like Marine XII, Nkossa and Banga Kayo, Congo's natural gas sector presents an attractive investment opportunity. Ongoing developments – including FLNG and gas reinjection strategies at the Nkossa and M'Boundi fields – ensure a stable supply of natural gas for both domestic power generation and future exports. The Central African region – home to some of Africa's most promising oil and gas markets – is well-positioned to leverage its vast resource base to supply the continent with reliable and sustainable energy. Major producers such as Congo, Gabon, Equatorial Guinea and Cameroon have long been significant oil exporters, yet substantial investment in natural gas infrastructure is still required to fully realize the region's hydrocarbon potential. As such, the Monetizing Central Africa's Natural Gas Potential technical workshop at CEIF 2025 – taking place on Day 2 of the conference on March 26 – will highlight best practices, address logistical challenges and showcase successful case studies, paving the way for greater regional integration and economic growth. 'CEIF 2025 is an essential platform for exploring innovative solutions and cutting-edge technologies that will help unlock Central Africa's vast gas resources. By bringing together international experts and local stakeholders, the event aims to address critical challenges to ensure the sustainable development of the region's energy sector,' states Sandra Jeque, Events and Project Director at Energy Capital&Power. Distributed by APO Group on behalf of Energy Capital&Power.
