Equatorial Guinea is building a new liquefied natural gas (LNG) storage and regasification terminal in the Port of konikien on the country's mainland and expects to start shipments from it in June next year, Minister of Mines and Hydrocarbons Gabriel Mbaga Obiang Lima told Sputnik
ABU DHABI (Pakistan Point News / Sputnik - 11th September, 2019) Equatorial Guinea is building a new liquefied natural gas (LNG) storage and regasification terminal in the Port of konikien on the country's mainland and expects to start shipments from it in June next year, Minister of Mines and Hydrocarbons Gabriel Mbaga Obiang Lima told Sputnik.
"The civil engineering is finished. We are waiting for cryogenic tanks that are arriving in October. First quarter of next year, all that is commissioned will be finished, and in June, we will start commercial supply to the land," the minister said.
He added that the construction of other terminals is being planned in the gulf area.
"One of the things that I keep insisting to the Russian companies, especially to LNG exporters they keep seeing North America, Asia as markets for LNG. But Russia is sending [gas to] very few countries in Africa. You have to see South Africa, Morocco, Egypt there is new market for the Russian gas. This is what we will have to soon look at, clearly they have been more lucrative and we pay better than Europeans," Lima told Sputnik.
The new plant, which has a storage capacity of 14,000 cubic meters (494,000 cubic feet) in 12 tanks, is projected to supply LNG to other countries of the region.
In April, the country signed agreements to extract more natural gas on offshore blocks Allen Unit operated by US-based petroleum company Noble Energy in a bid to boost feed for LNG production and exports.
