Mind blowing12 Jun 2018 07:19
The figures in this are huge....
Energy. New Age in charge of Etinde gas exploitation
Posted on11 June 2018
Since last June 8, this British company and the State of Cameroon are bound by the terms of a contract to equip Cameroon with a second floating gas treatment plant off Limbe.
Olivier Bokale
New African Global Energy (New AGE). This is the name of the company chosen by Cameroon to install and operate the Etinde gas block, located off Kribi in the South West region. The project provides for a 20-year operating life and the construction of a floating plant for the treatment and liquefaction of natural gas. The operating agreement has been signed since June 8th between the British company New Age (New African Global Energy) and the State of Cameroon. From this exploitation of the Etinde gas block, Cameroon plans to generate 150,000 tons of liquefied petroleum gas (LPG) per year, 1.3 million tons of liquefied natural gas (LNG) a year, 70 million cubic feet of natural gas per day that will be transported by the pipeline to the shore for the supply of local projects selected by Cameroon, 1 million tons of LPG for export and 30,000 barrels per day of oil condensate .
According to Cameroonian officials, the realization of this project guarantees a minimum of direct taxes of US $ 2.4 billion during the two decades of operation, US $ 3 million of local development contribution, about 7,000 direct and indirect jobs. in the downstream sector. In addition to these spin-offs, nearly $ 7 billion of revenue generated in the upstream sector is added. In the same vein, this project will allow the State of Cameroon to develop its energy potential through the availability of natural gas, a source of clean energy and less expensive for the industrialization of the country. For the Minister of Water and Energy (Minee), Gaston Eloundou Essomba, the start-up of the Etinde gas block will allow Cameroon to limit or even cancel its dependence on the import of domestic gas.As part of the development of the country's gas resources, the New Age company was authorized to exploit the Etinde gas field by presidential decree no. 2015/001 of 6 January 2015 establishing an exclusive exploitation license for gaseous hydrocarbons.
"Since the studies were conclusive for the exploitation of this gas field by the construction of a floating natural gas liquefaction plant (Flng) off our coasts in Limbe, the New Age company has requested the signature of an agreement gas with the State ... The signing of this agreement marks the culmination of a long process that actually takes shape today and which also opens a page in addition to the history of natural gas in Cameroon, "says Gaston Eloundou Essomba, Minee.
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