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Issue 420 - 24 July 2020

Egypt: Domestic gas market reforms

Subscriber

The Petroleum Ministry is driving forward a broad agenda of energy sector market reforms in an attempt to respond to the economic storm created by the Covid-19 pandemic. A large part of the strategy hinges on the ability of the government to restructure the domestic market in ways which maintain political and social equilibrium. The result has been a series of ambitious announcements covering multiple areas, with major private sector and industry players offering loyal support.

Egypt
Subscriber

The Federal Republic of Nigeria (FRN) and British Virgin Islands-listed Process & Industrial Developments Ltd (P&ID) presented their cases at the Queen’s Bench Division of the High Court in London, United Kingdom, on 13-14 July in the latest milestone of their long-running dispute. Nigeria is challenging an arbitration ruling against it, now worth nearly $10bn, over P&ID’s claim that the government’s failure to meet its obligations caused its gas-processing project to fail.

Nigeria
Issue 405 - 05 December 2019

Egypt: US support for EMG pipeline

Subscriber

The US International Development Finance Corporation has agreed to provide $430m in insurance for Noble Energy’s project to restore the 90km East Mediterranean Gas (EMG) pipeline to transport gas from fields offshore Israel. The agreement was signed on 23 November at the Investment for Africa Forum in Cairo after Noble Energy and its partners achieved financial close for the project.

Egypt
Issue 401 - 11 October 2019

Carlyle backs new Heavey venture

Subscriber

Tullow Oil veterans Aidan Heavey and Tom Hickey have won backing from The Carlyle Group for a new company targeting acquisitions of up to $1bn, focusing on oil and gas assets across sub-Saharan Africa. Carlyle Group said on 1 October that Boru Energy would aim to assemble a portfolio of primarily non-operated interests in production assets spread across several countries, with significant commercialisation potential and where the operator is a high-quality national, international or independent oil and gas company, Carlyle said.

Subscriber

Eni on 17 September announced the successful commissioning and start-up of production at the offshore Baltim South West gas field. With the start-up of the first well, BSW1, the field is now producing at an initial rate of 100mcf/d from a new offshore platform connected to the onshore Abu Madi gas plant through a new 44km, 26-inch pipeline. Five more wells are planned under the development programme with the aim of raising production to 500mcf/d by Q2 2020.

Egypt
Subscriber

Russia’s Lukoil has bought New Age (African Global Energy)’s 25% stake in Eni’s Marine XII licence for $800m. New Age and Lukoil are partners in Cameroon, while Lukoil is also a partner with Eni in Kazakhstan, Mexico and elsewhere. The announcement follows a visit to Moscow in May by President Denis Sassou Nguesso, where he held talks with President Vladimir Putin. New Age had sought to offload the stake to a larger company more able to cover the cost of the planned development.

Congo Brazzaville
Issue 405 - 05 December 2019

Mozambique: AfDB funding for LNG scheme

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The African Development Bank (AfDB) board on 26 November approved a long-term senior loan of $400m to support the Total-led Mozambique LNG project, which will monetise gas from Offshore Area 1. The AfDB said it was joining a global syndicate of commercial banks, development finance institutions and export credit agencies in providing debt financing for the project, which will have a production capacity of 12.88m t/yr.

Mozambique
Issue 384 - 17 January 2019

Nigeria-Morocco pipeline study

Subscriber

Morocco’s Office National des Hydrocarbures et des Mines and the Nigerian National Petroleum Corporation have given Penspen a new contract for a project to build a gas pipeline system that would eventually run some 5,700km from Nigeria to Morocco’s Mediterranean coast.

Nigeria | Morocco
Free

Algeria may be earning more money in the new high oil and gas price environment but with major calls on state revenues from every quarter, Sonatrach is not in line for significant new funds to help it address falls in output. Some politically favoured projects may go ahead regardless of commercial logic, but a lot of expectation rests on the 20 memoranda of understanding signed by PDG Toufik Hakkar during his tenure even though most have not yet led to new investment commitments. 

Algeria
Free

Less than a year from elections, numerous candidates are eyeing up the prize of taking over from President Muhammadu Buhari. 

Nigeria
Subscriber

The energy-focused group belonging to Prime Minister Aziz Akhannouch remains a major player in petroleum products trading and distribution and potentially upstream gas developments during a period when rising prices are adding to popular pressures on the Moroccan government to act and the PM has come under unexpectedly severe personal attack, writes a Special Correspondent, with Jon Marks.

Morocco
Subscriber

Putin’s invasion of Ukraine has been followed by swingeing sanctions on the Russian economy and has led to European countries focusing hard on finding alternative sources of energy. African gas producers and a new generation of renewables exporters stand to benefit from this, but Russia still has friendships it can rely on around the continent, write James Gavin, John Hamilton and Jon Marks.

Subscriber

Government agency the Petroleum Directorate of Sierra Leone (PDSL) is auctioning 136 oil and gas blocks in the Sierra Leone Basin to international investors. Petroleum Directorate of Sierra Leone (PDSL) director general Foday Mansaray told African Energy the country was “on the cusp of major oil and gas discovery”.

Sierra Leone
Free

Algiers will adhere to its contracts with existing clients regardless of other political or commercial pressures. Sonatrach’s relationship with Public Gas Corporation of Greece (Deoa) goes back to 1991. In February the two companies agreed additional LNG cargoes which will be delivered. Likewise, TotalEnergies, with a much longer history has worked hard to overcome the influence of the chequered history of Algero-French relations. As Spanish relations enter the deep freeze, Repsol’s interests and gas exports via the Medgaz pipeline will run according to the existing contracts.

Algeria
Subscriber

Negotiations between the government and international oil companies (IOCs), including Equinor and partners Shell and ExxonMobil, for a host government agreement (HGA) to underpin the $30bn Lindi liquified natural gas (LNG) project are proceeding on schedule, with an agreement expected by the end of May.

Tanzania