(Ecofin Agency) – Since 2019, Congo currently 6th world producer of crude oil, is increasing initiatives to encourage investments in gas, supposed to play a role in the transition to less environmentally polluting energies.
During the African Energy Week, held in Cape Town (South Africa) from Monday 4 to Friday 8 November in Cape Town, Maixent Raoul Ominga (photo), the general director of the Société Nationale des Pétroles du Congo (SNPC), s is expressed on the prospects linked to the increase in investments in gas in Congo.
The state is expected to formalize its Gas Master Plan (GMP) in the coming weeks, a roadmap designed to spur investment across the entire natural gas value chain.
According to the explanations of the boss of the SNPC, Congo hopes, with these new measures, to create “a framework for all those interested in investing in Congo gas”while also guaranteeing the attractiveness of the sector.
For the African Energy Chamber (AEC), which also spoke on this subject, “These policies mark a crucial step in deploying the infrastructure needed to drive industrialization and economic growth” of the Congo.
Is investment in Congolese gas insufficient?
Congo has made progress in its efforts to improve the business environment to make its hydrocarbon industry an attractive sector for gas investments, as evidenced by the entry of Trident Energy into the country at the end of April or the investment of 600 million dollars that TotalEnergies plans in exploration and production.
Although these efforts have favored projects targeting the increase in hydrocarbon production through initiatives to improve the productivity of oil and gas fields, investment in the hydrocarbon sector remains generally insufficient.
In June 2023, the World Bank estimated that “investments by international oil companies”which represent 95% of financing in Congo’s oil and gas, are said to be the main drivers of the country’s economic growth. The latter is expected to evolve at an average rate of 3.6% on average in 2024 and 2025.
Abdel-Latif Boureima
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27/11/2019 – Congo wants gas to play a leading role in its energy transition policy
