Independent Perenco has disclosed a $1 billion investment in the development of a liquefied natural gas unit in Gabon.
The London-based corporation said that after presenting the unit’s plan to the Minister of Oil and Gas, the Gabonese government granted technical permission in December 2022.
Beginning in 2026, the unit, which will be situated at the Cap Lopez Oil Terminal, is anticipated to produce 20,000 tons of butane gas and 700,000 tons of LNG yearly.
The plan will make Gabon self-sufficient in butane and an exporter of LNG. “We are pleased to be investing to help meet Gabon’s future energy demands, supporting the country in reducing its emissions, and delivering a project that will also create hundreds of direct and indirect employment opportunities,” said Perenco general manager Benoît de la Fouchardière.
Energy Voice reports that the company bought the Cap Lopez terminal and various fields from TotalEnergies in 2021 for $350 million but was forced to suspend operations in April 2022 following a 300,000-barrel oil spill at the terminal.
The media also reports that Perenco is separately constructing an LPG plant in Gabon at a new facility. This should start production this year and produce 15,000 tpy.
