Société nationale des pétroles du Congo (SNPC) Joins African Energy Week (AEW) 2024 as Diamond Sponsor Amid Approval of Gas Master Plan

 

The Republic of Congo’s (ROC) national oil company (NOC) Société nationale des pétroles du Congo (SNPC) has joined the African Energy Week (AEW): Invest in African Energy 2024 conference – taking place in Cape Town from November 4-8 – as a Diamond Sponsor. Marking a pivotal step for the ROC, SNPC is set to officially unveil its proposed Gas Master Plan at the event as the NOC looks to unlock the full potential of the country’s natural gas resources.

The plan is set to provide a framework that incentivizes investment in the development of the ROC’s resources with a specific focus on natural gas, which are estimated at 10 trillion cubic feet. The Gas Master Plan also aims to create a roadmap to enhance gas monetization and utilization by focusing on infrastructure development, gas processing plants, pipelines and power generation facilities. Poised to reduce reliance on imported energy, the plan aims to boost domestic energy production and promote local content development.

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With a target to produce 2.4 million tons of LNG by 2025, the ROC achieved a major milestone this year after delivering its first LNG cargo to Italy from the Congo LNG project’s Tango FLNG facility, which features a 1-billion-cubic-meter-per-annum liquefaction capacity. A second FLNG vessel with a 3.5-billion-cubic-meter-per-annum capacity is set to start production next year. The project is supported by a sales and purchase agreement signed between the SNPC, energy major Eni and multinational energy corporation Lukoil in September 2023. With the project, the ROC is set to produce an initial 600,000 tons of LNG per year and up to 2.4 million tons per year by 2025.

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The SNPC has also been streamlining gas for domestic industrial use through projects such as the Banga Kayo conventional oilfield – led by Chinese oil and gas company Wing Wah Oil Company –, which features a phased expansion plan to monetize previously flared gas resources. Over several phases, the project will progressively increase gas valorization capacity to produce LNG, LPG, butane and propane for the domestic market. Three trains will be developed, the first of which will have a capacity of one million cubic meters per day while the second and third will each have a capacity of two million cubic meters per day. The second and third trains will come online by March 2025 and December 2025, respectively.

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The SNPC has also been leading the ROC’s efforts to boost oil production in the country, with a target to increase production from 259,000 barrels per day (bpd) to 500,000 bpd by next year. Additionally, in an attempt to drive upstream exploration, the NOC partnered with oil and gas independent Perenco last November to complete offshore 3D seismic acquisition targeting with the Tchibouela II, Tchendo II, Marine XXVII and Emeraude permits. With data from the campaign expected to identify future drilling targets and enhance exploration success, the partnership serves as a model for public-private sector collaboration within the sector.

“By unveiling their Gas Master Plan, SNPC is taking significant steps to eradicate energy poverty and maximize the monetization of the country’s rich natural resources. Their commitment to local content development has positioned the country to empower communities and stimulate economic growth. We commend SNPC for their leadership in transforming natural gas into a catalyst for broader economic progress,” states African Energy Chamber Executive Chairman NJ Ayuk.

In recent years, the SNPC has gained recognition for its role in establishing the ROC as a competitive oil exporter. The company’s efforts to diversify energy sources through gas-focused initiatives like the Gas Master Plan demonstrate its broader commitment to sustainable energy development. As such, AEW: Invest in African Energy 2024 is set to facilitate the company’s mandate to advance the nation’s energy infrastructure, promote the local workforce within the sector and ensure that oil and gas revenues support national development goals.

Distributed by APO Group on behalf of African Energy Chamber.