Perenco Drives $1 Billion Gas Revolution Across Central Africa
Independent oil and gas company Perenco is positioning natural gas at the center of its African expansion strategy, with the transformative $1 billion Cap Lopez LNG project in Gabon leading the charge as a regional energy game-changer.
Located at the existing Cap Lopez oil terminal, the groundbreaking project features a floating LNG vessel currently under construction in Dubai. The facility is scheduled to begin operations in 2026, producing 700,000 tons of LNG and 25,000 tons of LPG annually, supported by 137,000 cubic meters of storage capacity.
This project represents Gabon’s first major gas development following a 2023 final investment decision and is expected to significantly enhance energy security while supporting economic diversification efforts.
In the Republic of Congo, Perenco is advancing the Kombi 2 platform on the Kombi-Likalala-Libondo II permit, with commissioning expected in early 2026. Built in the Netherlands, the platform will boost production by 7 million cubic feet per day, backed by a $300 million investment as part of nearly $900 million in comprehensive upgrades and drilling activities.
The company’s broader African strategy includes significant exploration and infrastructure developments. In early 2024, Perenco achieved the first offshore oil discovery in the Democratic Republic of Congo in nearly three decades. In Gabon, an appraisal well near Hylia South West revealed significant oil-bearing formations, while in Cameroon, the company launched its first gas-to-industry project in July 2024.
Source: oilprice.com
