Nigeria To Extend Supply Of Natural Gas To Equatorial Guinea 

Equatorial Guinea extends oil and gas exploration licenses by two years

Joseph Bakare

Nigeria would be extending natural gas supply to Equatorial Guinea.

The decision follows a meeting between the country’s Minister of Mines and Hydrocarbons, Gabriel Mbaga Obiang Lima, and Nigeria’s Minister of State for Petroleum Resources, Timipre Sylva, to discuss and strengthen bilateral energy relations between the two countries.

The two Ministers agreed to fast-track the cross-border supply of gas from Nigeria to Equatorial Guinea, representing a critical step in Equatorial Guinea’s Gas Mega Hub masterplan, which seeks to aggregate offshore gas from domestic and neighboring reserves and deliver it to onshore industry.

They also signed a Memorandum of Understanding, MoU, to commence new opportunities within their respective hydrocarbon sectors, as well as establish strategies for the elimination of maritime piracy, which remains an ongoing security threat in the Gulf of Guinea.

Sylva’s visit to Equatorial Guinea follows his recent appointment by the Joint Ministerial Monitoring Committee of the Organization of Petroleum Exporting Countries (OPEC) as a Special Envoy to participating countries, including Gabon, Congo-Brazzaville and South Sudan, to promote adherence to OPEC-led production cuts.

The meeting affirmed mutually beneficial relationship between the two countries, aimed at fostering regional collaboration and maximizing the value of their respective oil and gas opportunities.

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