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The Ministry of Mines and Hydrocarbons and Noble Energy and Marathon Oil’s Atlantic Methanol Production Company have given US company Nexant a contract to carry out a feasibility study for the construction of a formaldehyde production plant in Punta Europa. The ministry, which has been touting plans to develop a regional gas supply hub, also said on 13 May it had given UK consultancy Gas Strategies a contract for the development of a gas master plan. Equatorial Guinea needs to find new markets for its gas to replace sales into the US from the EGLNG plant as contracts expire.