Final Investment Decision for LNG production unit in Gabon

16 February 2023

Perenco has reached Final Investment Decision (FID) for the construction of a Liquefied Natural Gas (LNG) production unit at the Cap Lopez oil Terminal in Gabon. 

Today’s news follows the official presentation of the project in Libreville to the Minister of Oil and Gas, and the subsequent technical approval by the Gabonese authorities in December 2022. 

 The LNG production unit, which involves an investment of more than US$1 billion and a three year construction period, will see the transformation of the Cap Lopez into both an oil and gas terminal. As soon as 2026, Perenco’s investment will facilitate Gabon becoming self sufficient in butane gas (LPG) and an exporter of LNG, with annual production targets of 20,000 tons and 700,000 tons of butane gas and LNG respectively. These volumes will come in addition to the 15,000 tons per year of LPG that will be produced by Perenco in Gabon from its new plant that will enter in production this year. 

To ensure operational continuity throughout the construction phase of the Terminal, a VLCC vessel has been mobilised and connected to the Cap Lopez facilities. The tanker has a capacity of 2 million barrels and has already carried out its first crude oil withdrawals and will be used to store all production coming into the Terminal.

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