Perenco Gives Green Light for LNG Facility in Gabon

Perenco Gives Green Light for LNG Facility in Gabon
Perenco has approved the construction of a liquefied natural gas facility at the Cap Lopez oil terminal in Gabon.

Perenco has approved the construction of a liquefied natural gas (LNG) facility at the Cap Lopez oil terminal in Gabon. The company has reached Final Investment Decision shortly after the official presentation to the Minister of Oil and Gas in Libreville, as well as the subsequent technical approval by the authorities near the end of last year.

The Cap Lopez terminal will be transformed into an oil and gas terminal, with the investment reaching over $1 billion. The construction period is set to three years after which Gabon would become self-sufficient in butane gas (LPG) and an exporter of LNG. Annual production of butane gas would reach 20,000 tons with LNG production expected to hit 700,000 tons of LNG. Fresh butane volumes come on top the 15,000 tons of LPG that will be produced by Perenco annually in Gabon once its new facility comes into production during 2023.

To ensure operational continuity throughout the construction phase of the terminal, a VLCC vessel has been mobilized and connected to the Cap Lopez facilities. The tanker has a capacity of 2 million barrels and has already carried out its first crude oil withdrawals and will be used to store all production coming into the terminal.   

“FID for a new LNG production unit in Gabon is further evidence of Perenco’s leading gas strategy in Africa. It also marks an important milestone for Perenco’s partnership with Gabon, a country where we have been operating for thirty years. 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,” Perenco’s Group General Manager, Benoît de la Fouchardière, said.

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