With the opening of a $4 billion gas processing facility in Soyo, Angolan President François Lourenço signaled the nation’s transition from producing traditional crude oil to developing natural gas.
The Novo Consórcio de Gás (NCG) spearheaded the construction of the plant, which can process 400 million cubic feet of gas per day from Angola’s first independent gas reserves.
The project was finished months ahead of schedule, according to Minerals and Petroleum Minister Diamantino Azevedo.
Azule Energy, Sonangol E&P, Chevron Corp., and TotalEnergies SE are among the stakeholders in NCG, reflecting a combination of domestic and foreign investment.
The facility is currently in operation and will supply gas for LNG exports, industrial uses, and domestic power generation, Bloomberg reports.
The project is a component of Angola’s effort to diversify its energy mix and lessen its dependency on crude oil, Minister Azevedo emphasized.
Gas will also help with the manufacture of urea and ammonia, petrochemical processes, and electricity.
It is projected that the Soyo gas plant will increase Angola’s capacity for industrialization and improve its energy security. The long-term vision was highlighted by Minister Azevedo:
In order to enable sustainable growth in the energy sector, the facility is a significant step toward Angola’s goal of utilizing its natural gas reserves for both internal consumption and worldwide export.
Azule Energy CEO Adriano Mongini stated that he is “proud to deliver a project with a truly transformative impact on Angola’s gas sector.”
Energy push in Angola
Earlier this year, the joint venture between Eni SpA and BP Plc completed the Quiluma and Maboqueiro gas field platforms.
Furthermore, in December last year, Aliko Dangote, Africa’s richest man, expanded his operations to the Southern African country.
The Nigerian billionaire met with Angolan President João Lourenço at the time to discuss plans for a new refinery in the country and investments in cement production.
The meeting followed the completion of the Dangote refinery in Nigeria in 2023, which is now fully operational.
In August 2023, Angola opened the public tendering process for its 200,000 barrels per day Lobito Refinery, inviting interested businesses and people to participate.
The Lobito Refinery in Benguela province will have the capacity to handle 200,000 barrels of crude oil per day.
According to the report, Dangote’s Angolan businesses will supervise operations at the Lobito Refinery as well as interests in cement and oil blocks.
