Energy Capital & Power’s Post

Mozambique joined the league of liquefied natural gas (LNG) exporters when the Eni-operated Coral FLNG platform started operations in October 2022. The offshore platform can produce 3.4 million tons of LNG per year and the country still has the potential to do more with an estimated 100 trillion cubic feet (TCF) in gas reserves. $50 billion worth of LNG facilities are in different stages of development but have been largely disrupted by insurgency. The country estimates $91.7 billion in revenue from LNG exports and has now enacted a law to create a sovereign wealth fund that would receive 40% of proceeds from LNG exports in the first 15 years. #lng #news #mozambique #oilandgas

🇦🇴🛢️ The Angolan government is on the move, rolling out strategic initiatives to attract investments into its oil sector amid the global shift towards sustainable energy. José Alexandre Barroso, Secretary of State for Petroleum and Gas, is leading the charge with a dual focus on sustainable development and hydrocarbon exploration. With a visionary approach, Angola aims for the gas sector to contribute to 25% of the country's energy needs by 2025. This ambition is supported by plans for a floating liquefied natural gas (LNG) facility, should the reserves in Block 24 prove sufficient. This initiative is not just about exporting LNG; it's about fostering the development of steel and petrochemical manufacturing, aligning with broader economic diversification and sustainability goals. 🔍 Stay tuned as Angola embarks on partnerships to rejuvenate its oil and gas industry, addressing long-standing production challenges. 👇 To read more about the subject, click the link in the comments! #Angola #OilSector #Oil&Gas #Sustainability #EnergyTransition #InvestmentOpportunity

Bruno Jean-Richard Itoua, Minister of Hydrocarbons of the Republic of Congo (ROC), has joined the Angola Oil & Gas (AOG) conference as a speaker. During the conference – scheduled for October 2-3 in Luanda – Minister Itoua will provide insight into emerging opportunities in oil exploration, gas monetization and LNG development, as well as potential areas for collaboration between the two countries. Both ROC and Angola have set bold production targets, aiming to increase oil output to 500,000 barrels per day (bpd) and 1.1 million bpd, respectively. Both countries’ favorable investment climates have sparked the interest of a strong slate of E&P firms, with AOG 2024 set to not only support national oil and gas objectives, but also offer a platform for engagement in emerging cross-border projects. Read more: https://hubs.la/Q02F2xXs0 The future of Angolan oil and gas awaits. Join Angola Oil & Gas 2024 on Oct 2-3 in Luanda! Register today: https://hubs.la/Q02F2MLj0 #AOG2024 #InvestinAfrica #OilandGas

[NEWS]: Africa is witnessing a natural gas drive in Angola that is set to revolutionize the continents natural gas industry. From exploration to production to exports, the Angolan oil and natural gas industry is bustling with new initiatives. This past year alone, international oil companies and the Angolan government partnered to award numerous regional operators with …

Eni has garnered significant funding interest for its next floating liquefied natural gas (FLNG) project in Mozambique, despite global pressures on reducing fossil fuel investments. This upcoming FLNG plant, located in the nation’s Area 4 concession, is expected to have a similar investment value to Eni’s $7 billion Coral South project, which was inaugurated in 2022. The new facility is projected to produce 3.6 million tons of LNG annually, slightly more than its predecessor. The project has attracted backing from international institutions, including the US Export-Import Bank, and is viewed as part of the energy transition due to the relatively cleaner profile of natural gas compared to oil. With Mozambique aiming to become a regional LNG hub, the completion of this project would further strengthen its position in the global energy market. Approval from the Mozambican government is expected soon, allowing Eni to expedite the project’s timeline by pre-booking shipyard space and procuring necessary equipment. #mozambique #flng #eni #oilandgas

Following the completion of major offshore gas projects, Mozambique will become the fourth largest LNG producer worldwide, with more than 30 million tons brought to market. The country’s inaugural FLNG facility started production in 2022, with the country recording a 6% growth in its GDP the following year. Similarly, Angola – through the Angola LNG project – witnessed a 14% year-on-year growth in LNG exports in 2023. A CLG-sponsored panel discussion during the second annual Invest in African Energy Forum in Paris unpacked the role LNG has played in these markets, with speakers exploring strategies for gas monetization in emerging markets. Read more: https://hubs.la/Q02xg4_S0 #IAE2024 #InvestinAfrica #ECPEvents #EnergyTransition #NaturalGas CLG Afentra PLC AECIPA - Associação das Empresas Prestadoras de Serviço da Indústria Petrolífera Angolana

Angola aims to hold and increase oil production beyond 1.18 million barrels per day (bpd), while positioning its gas sector to account for 25% of the country’s energy needs by 2025. 🇦🇴 With underexplored prospects, including the onshore Kwanza Basin and offshore deepwater Namibe Basin, Angola represents a mature market with frontier acreage. Ranked among Africa’s top oil producers, the country is committed to creating a stable and competitive investment environment, with favorable policies and regulatory reforms poised to foster investor confidence and attract foreign investment into exploration and production activities. Get the full scoop here:  https://lnkd.in/ddmaFDDT Don't miss your chance to influence the future of Angola's oil and gas sector! Join Angola Oil & Gas 2024 (Oct 2-3, Luanda). Register now and secure your spot: https://lnkd.in/dzr2TPw7 #AOG2024 #InvestinAfrica #OilandGas ANPG Angola

The African Association of Oil & Gas Professionals (AAOGP) acknowledges the critical discussions surrounding a sustainable future for the oil and gas industry. We remain committed to keeping our members informed on all industry developments. Stay tuned for our analysis and insight. #AAOGP #OilGasSustainability #oilandgasindustry

The Namibia Oil and Gas Conference is just around the corner, and this event couldn't come at a more critical juncture for our country. As we stand on the cusp of unprecedented growth and development, this conference serves as a pivotal platform for dialogue, innovation, and collaboration. With recent discoveries and investments, we are poised to become a key player in the global energy landscape. This conference is more than just a meeting—it's a chance to shape the future of energy in Namibia and beyond. #NamibiaOilAndGas #EnergyFuture #GlobalCollaboration #SustainableDevelopment #OilAndGasConference