Anglo-French oil and gas company Perenco has made the final investment decision (FID) to construct a $1 billion liquefied natural gas (LNG) facility in Cap Lopez terminal, Gabon.
The decision will enhance Perenco’s expansion into the African natural gas landscape, the company said in a statement.
The facility will have a development timeline of up to three years.
Production is likely to commence in 2026, producing 700,000 tonnes of LNG per year and 20,000 tonnes of butane per year.
The company has increased production from 8,000 barrels per day (bpd) to 100,000 bpd following the acquisition of mature fields off Port-Gentil more than two decades ago.
Perenco operates both on- and offshore licenses in addition to two floating offshore storage and offloading (FPSO) units, the statement said.
The company operates the Hilli Episeyo Floating LNG facility in Cameroon, holds full operatorship of PetroChad Mangara oilfields in Chad, and operates the Emeraude, Likouala and Yombo fields in Congo.
(Writing by P Deol; Editing by Anoop Menon)