In a bid to showcase dynamic partnership and investment opportunities in-country, Equatorial Guinea’s Ministry of Mines and Hydrocarbons has announced its official partnership with the African Energy Chamber (AEC) for the upcoming African Energy Week (AEW) 2022 in Cape Town on October 18-21. Building off a successful inaugural event in 2021, Equatorial Guinea will serve as an official partner for Africa’s premier energy event, which connects global investors and industry leaders with projects spanning the pan-African energy value chain.
“I am officially accepting the invitation to African Energy Week 2022 in Cape Town. It will be a pleasure to be there again and at the same time, we are delighted to enter into a partnership with African Energy Week to be able to work with them. If my brothers in Nigeria can do it, so can we,” Stated Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons, Equatorial Guinea.
“Minister Gwede Mantashe was a great host to all of us and there is no reason to not work together on developing our resources while defining what is green for Africa. We will further strengthen our quest to Make Energy Poverty History, close the gap between struggle and success by facilitating more investment and economic development in our energy sectors. Equatorial Guinea and its energy sector will mobilize to be in Cape Town and work to create a more robust industry with a prosperous economic future,” concluded H.E. Lima.
Equatorial Guinea, for its part, has been active in forging regional and international partnerships aimed at advancing its energy and infrastructure development priorities. Following the completion of the first phase of its Gas Mega Hub project, the country is currently seeking to tap into neighboring gas resources in Cameroon and Nigeria to monetize stranded gas assets in the region, facilitated by the establishment of government-to-government LNG sale and purchase agreements and terminal use agreements as a basis for LNG exchange.
“Our goal is to work with Equatorial Guinea’s energy sector to ensure that deals are signed before or in Cape Town. We believe a strong collaboration with international and local companies in Equatorial Guinea will become even more important than before. AEW will promote new market driven partnerships that create jobs while increasing investor confidence,” stated Tomás C. Gerbasio, Director of AEW. “Equatorial Guinea continues to lead some of the most transformative gas monetization projects on the continent especially with the Gas Mega Hub. Natural gas represents a critical solution to bridging Africa’s power gap, capitalizing on cheap, abundant gas supplies while meeting global decarbonization demands. With broad-based support from our public and private sector partners, AEW 2022 will be able to drive our key objective of making energy poverty history by 2030,” concluded Gerbasio.
Equatorial Guinea made a strong play for investment at AEW last year. Speaking during AEW event in 2021, Minister Obiang Lima led discussions on the range of African investment opportunities and the ongoing role of hydrocarbons in Africa’s energy future. Some of the companies investing in the country include ExxonMobil, Marathon Oil Corp, AMPCO, Chevron, Atlas Petroleum, Gunvor, Glencore, Trident Energy, EG LNG and Kosmos Energy and Vaalco.
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