Equatorial Guinea will build asecond factory of liquefied natural gas at a cost of $ LNG output todouble 4 million, said the head of the gas company, owned by the State.
"Definitely, there will be a second factory," says JuanAntonio Ondo Ndong, General Director of the national society, degassing or interview Sonagas, of 27 June. "We had some newdiscoveries by which we can proceed with it". In principle, we are candouble our current production. "
The second floor of LNG, or train West African nation willproduce 1.8 to 4.6 billion cubic metres per day, Ndong saidin the capital Malabo. Capacity depends on the discoveredreserves early next year when noble and Sonagas partners EnergyInc. (NBL) and Ofir Energy Plc to decide on the investment.
Equatorial Guinea, in the Gulf of Guinea, currently produces 3.4 million cubic meters of LNG per day. second power plant may start producing in 2016, said Ndong. Nationhas around 8.5 trillion cubic feet of proven natural gasreserves with Sonagas.
The prices of oil and gas will continue to grow as countriesswitch towards fossil fuels inJapan nuclear disaster this year, said Ndong. "We believe that prices will be verypositive for us in the future," he said.
Nigeria and Cameroon are considering ways to transferringgas your neighbor upproduction smaller, more empowering ramp, said Director-General.
"There are initiatives to assist in collection of ofgas being burnt," he said. "We are not dependent on themthough, let's see what our own reservations in the first place".
Sonagas is also currently considering a petrochemicalsplant Ndong, "he said.
To contact the reporter on this story: Franz Wild in Malabo in fwild@bloomberg.net.
To contact the editor responsible for this story: Andrew j. Barden in barden@bloomberg.net.
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