Equatorial Guinea Models Success of U.S. Investment in African Gas (By Grace Goodrich)
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Grace Goodrich, Field Editor, Energy Capital & Power (www.EnergyCapitalPower.com)
U.S. operators – including Noble Energy, Marathon Oil and Chevron – have played a critical role in executing the first phase of Equatorial Guinea’s flagship Gas Mega Hub, serving as a model for future U.S. investment in gas value chains across the continent.
The African natural gas value chain has become the preferred destination for foreign direct investment – not only because the continent holds over 500 trillion cubic feet of proven reserves, but also because natural gas is a critical step in the global energy transition and provision of clean, affordable power. In the U.S., the Biden Administration has made clear its commitment to supporting developing countries in their own pursuit of low- or zero-carbon economies. Home to 1.3 trillion cubic feet of natural gas, E
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Alex Froley, LNG Market Analyst at ICIS summarises key developments and performances in the first quarter of 2021 and explores what suppliers and buyers would be watching out for as we move into warmer weather.
A number of refineries in Africa have been offline, either following maintenance as Zambia’s Indeni, or due to a lack of crude supply as Ghana’s Tema. Two refineries in South Africa also remain offline Engen’s Durban and the Cape Town refinery as well as Cameroon’s Limbe. Near-term maintenance New and revised entries .
Refinery news roundup: Some refineries in Africa remain offline
In South Africa, both the Engen and Cape Town refineries remain offline, whereas Zambia’s Indeni is not expected to restart after a maintenance until later this year.
Overall refining output in Africa remains low as many refineries remain closed or are operating intermittently, according to Africa-focused oil consultancy CITAC.
In South Africa alone, refinery output fell 28% last year as all refineries were closed in April and May due to the lockdown.
In April, South Africa’s Engen said it will be proceeding with the conversion of its Durban refinery into a terminal. Astron Energy’s Cape Town will remain closed until 2022, after an incident in July 2020, S&P Global Platts data reported earlier.