The Government of Equatorial Guinea, through its Ministry of Mines, Industry and Energy, and Sociedad Nacional de Gas de Guinea Ecuatorial (SONAGAS G.E.), have signed an Umbrella Agreement with BG Equatorial Guinea Limited and BG Gas Marketing Limited (collectively, “BG”) under which the Government and BG will jointly fund the construction of key public and commercial infrastructure projects in Equatorial Guinea.
The projects include a compressed natural gas (CNG) plant and refilling stations to support a new fleet of CNG buses to be acquired for the cities of Malabo and Bata, and the re-powering of a 24MW fuel oil-fired electric generating plant in Bata to use natural gas as a fuel source.
The Umbrella Agreement is expected to last while the projects are being implemented in accordance with the agreed upon funding and execution mechanisms.
At the signing ceremony, the Minister of Mines, Industry and Energy, H.E Gabriel Mbaga Obiang Lima made the following remarks: “this Agreement will present an opportunity for the Government and BG to further strengthen their relationship and will also serve as a model for partnerships in Equatorial Guinea to maximize its natural resources for the benefit of its people. Once completed, the projects will greatly benefit the people and businesses in Equatorial Guinea, including BG, by providing efficient means of transport and providing power for both industrial and domestic consumption.”
(Source: Ministry of Mines, Industry and Energy)