Equatorial Guinea’s Minister of Mines and Hydrocarbons, H.E. Gabriel Mbaga Obiang Lima, met with Congolese President H.E. Denis Sassou Nguesso on Tuesday, delivering a special message on behalf of Equatoguinean President, H.E. Teodoro Obiang Nguema Mbasogo, regarding regional energy integration. The meeting addressed growing South-South cooperation and encouraged the establishment of a more robust regional energy sector able to meet the needs of the citizens of Central African Economic and Monetary Community (CEMAC) member states.
H.E. President Nguesso was also accompanied by Congolese Minister of Hydrocarbons H.E. Bruno Jean-Richard Itoua, who held his own bilateral meeting with H.E. Minister Lima. Both oil ministers participated in the CEMAC Energy Business Forum in Brazzaville, taking place November 29-30 and seeking to foster discussions among regional stakeholders and accelerate sustainable, regional energy growth.
The Republic of the Congo is not the only country at the forefront of Equatorial Guinea’s campaign to expand cross-border cooperation. In September, H.E. Minister Lima met with Cameroonian President H.E. Paul Biya to boost cooperation in the hydrocarbons sector and enhance commercial exchanges between CEMAC member countries, with a view to driving economic development within the region. Intra-African cooperation is being positioned as the key to unlocking Africa’s energy prosperity, able to increase investors’ confidence, trigger large-scale projects that individual countries could not support alone, and generate a more active African influence within the global energy community.
The CEMAC region, comprising six states including Gabon, Cameroon, the Central African Republic, Chad, the Republic of the Congo and Equatorial Guinea, is home to prolific oil and natural gas resources and some of Africa’s largest energy developments. Both the Republic of the Congo and Equatorial Guinea are members of OPEC and represent the third- and sixth-largest oil producers on the continent, respectively. Both countries have embarked on ambitious reforms to make their national energy sectors more competitive on a global scale. For Equatorial Guinea, this includes a revised Hydrocarbon Law announced in September and focused on attracting oil investment into the country’s sector, as well as the establishment of a regional Liquefied Natural Gas (LNG) trade through its flagship Gas Mega Hub and LNG2Africa initiatives. The Republic of the Congo’s Gas Master Plan also aims to maximize resources through LNG developments, in addition to driving oil developments.
Distributed by APO Group on behalf of African Energy Chamber.
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
