Independent hydrocarbons producer, Perenco, announced a Final Investment Decision (FID) for the construction of a 700,000-ton-per-year Liquefied Natural Gas (LNG) production facility at the Cap Lopez terminal in Gabon. Having received technical approval from Gabon’s Ministry of Oil and Gas and relevant authorities in December 2022, and representing an investment of over $1 billion, the unit will take up to three years to complete and is expected to produce roughly 700,000 tons of LNG and 20,000 tons of butane, which is expected to result in Gabon becoming self-sufficient in butane production and an exporter of LNG.
“We are pleased to be investing to help meet Gabon’s future energy demands, supporting the country in reducing emissions, and delivering a project that will also create hundreds of direct and indirect employment opportunities,” stated Perenco General Manager, Benoît de la Fouchardière, adding, “It also marks an important milestone for Perenco’s partnership with Gabon, a country where we have been operating for 30 years.”
With production targeted for 2026, the project is expected to result in Cap Lopez becoming an oil and gas terminal for the West African country, where Perenco operates both on- and offshore licenses as well as two floating offshore storage and offloading units.
Perenco purchased the Cap de Lopez terminal, and various fields in Gabon, from oil and gas supermajor, TotalEnergies, in 2021 at a cost of $350 million.
