London-based Perenco to invest $1bn in LNG production unit in Gabon
Independent Perenco has announced the investment of $1 billion for construction of a Liquefied Natural Gas unit in Gabon.
The company-based in London said it presented the plan for the unit to the Minister of Oil and Gas, and the subsequent technical approval by the Gabonese authorities in December 2022.
The unit will be located at the Cap Lopez oil Terminal and is expected to produce annually from 2026 20,000 tons of butane gas and 700,000 tons of LNG.
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.
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, Energy Voice reports.
Perenco is separately building an LPG plant in Gabon at a new plant, the media adds. This should enter production this year and produce 15,000 tpy.