The European Payment Alliance (EuroPA) has initiated a major shift towards instant cross-border payments by integrating mobile transfer schemes such as Italy’s Bancomat, ...
eTranzact International Plc has reported a 53.2% surge in pre-tax profit for the fiscal year ending December 31, 2024, reaching N4.8 billion, despite ...
Elon Musk’s artificial intelligence company, xAI, has officially acquired his social media platform, X, in a multibillion-dollar deal aimed at creating a next-generation, ...
SaaS startup Mercurie has launched an innovative next-generation payment platform designed to transform how African businesses manage and pay for global digital services—all ...
The National Pension Commission (PenCom) has introduced a digital pension remittance platform designed to automate the process of pension contribution remittances and address ...
The Federal Deposit Insurance Corporation (FDIC) has announced a significant shift in its regulatory approach, allowing FDIC-supervised institutions to engage in cryptocurrency-related activities ...
Kenya’s financial landscape is facing mounting external risks following the cancellation of its ninth and final review under the current Extended Fund Facility ...
Online cash advance provider Cleo AI has reached a $17 million settlement with the Federal Trade Commission (FTC) following allegations that the company ...
The House of Representatives has reaffirmed that the Financial Reporting Council (FRC) Act, 2023 remains legally binding and operational unless amended through the ...
BRAZZAVILLE, Republic of Congo, March 25, 2025/APO Group/ --
The Republic of Congo is expected to more than double natural gas production by 2027 according to an outlook by commodity company S&P Global Commodity Insights – technical partner of the Congo Energy & Investment Forum (CEIF). This production increase will be driven primarily by Chinese developer Wing Wah’s Banga Kayo and energy major Eni’s Marine XII FLNG developments.
Lucinda Valerie Ross, Senior Technical Research Analyst at S&P Global Commodity Insights
The outlook was announced by Lucinda Valerie Ross, Senior Technical Research Analyst at S&P Global Commodity Insights, during a Technical Presentation titled, Assessing the Role of Deepwater Gas in the Republic of Congo’s Energy Strategy, at CEIF in Brazzaville.
“Natural Gas production has historically been low [in Congo]. In response to increased production, Eni has been able to leverage pre-existing FLNG vessels in a phased approach to achieve first gas last year,” Ross stated, adding, “We need to attract investment to these projects in order to ensure sustained increased production in Congolese gas.”
The Marine XII project is set to produce 2.4 million metric tons of LNG annually in 2025. Production is expected to increase to 4.5 billion cubic meters per year by 2026, with LNG used for both domestic consumption and export.
Meanwhile, over a period of 25 years, the Banga Kayo permit, plans for a cumulative production estimated at nearly 30 billion cubic meters of associated gas. The project will be carried out in four phases, each progressively increasing the gas treatment and valorization capacity to meet local and regional LNG and LPG demand.
Natural gas currently accounts for over 70% of electricity generation in Congo. Meanwhile, natural gas, along with oil production, accounts for 35% of the country’s GDP and 75% of its exports.
Distributed by APO Group on behalf of Energy Capital & Power.
About the Congo Energy & Investment Forum:
The inaugural Congo Energy & Investment Forum, set for March 24-26, 2025, in Brazzaville, under the highest patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo, brings together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities.