Noble Energy and partners will build a pipeline linking Equatorial Guinea’s offshore gas fields to an onshore LNG plant to boost exports, the African nation’s government said April 1.
Under a deal with the government the 70-km (44-mile) pipe will have capacity for 950 million cubic feet of gas per day from fields operated by Noble and will be ready in first-quarter 2021.
Once liquefied at the export plant, which is run by Marathon Oil, the gas will be shipped to markets across the globe.
Sonagas GE, the state-run gas company, will increase its stake in the project to 30% from 25%.
The gas will come from a joint venture called the Alen Unit, located in two offshore blocks, and is expected to contribute between $1.5 billion and $2 billion to state revenues over the course of the project, the government statement said.
Equatorial Guinea hopes to create a gas export hub from its offshore fields after revenues were hit by a dip in oil prices and production since 2014.
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