Congo’s Minister of Hydrocarbons to Drive Liquefied Natural Gas (LNG), Frontier Exploration and Production (E&P) Dialogue at African Energy Week (AEW) 2023
The African Energy Chamber (AEC), the voice of Africa’s energy sector, is honored to announce that H.E. Bruno Jean Richard Itoua, the Minister of Hydrocarbons of the Republic of Congo, will participate at the African Energy Week (AEW) (www.AECWeek.com) conference and exhibition, the premier event for Africa’s energy sector. The event is set to take place 16–20 October in Cape Town, where H.E. Itoua will showcase Congo’s promising hydrocarbon sector and the various investment opportunities emerging across the growing market.
Prior to serving as Minister of Hydrocarbons, H.E. Itoua held the position of Head of the National Petroleum Company of Congo for seven years, a background which signifies his wealth of experience and expertise in the energy sector. His exceptional leadership qualities were recognized when he was appointed as the President of the Organization of Petroleum Exporting Countries in 2022, further underscoring his expertise and influence in the energy sector. This experience positions H.E. Itoua as a highly qualified and respected figure in the field, capable of making informed decisions and implementing strategic initiatives as the Minister of Hydrocarbons. Under a mandate of positioning the Congo as an attractive destination for hydrocarbon investments, the Minister will showcase the country's potential as a prominent player in the global energy landscape.
Situated in Central Africa, Congo is a net producer of crude oil and holds approximately 1, 811 million barrels of proven oil reserves and gas reserves of 284 billion cubic meters, and the country is already making significant strides in maximizing its hydrocarbon resources. Through comprehensive policy reforms and various strategic campaigns, including the implementation of the Gas Master Plan – a comprehensive strategy for expanding the domestic gas market -, significant efforts have been made to promote local content and capacity building programs in Congo's hydrocarbon sector. These initiatives have been instrumental in driving growth and development throughout the industry. As a result, Congo has established itself as one of the leading oil producers in Africa and is on track to become a key player in the continent's liquefied natural gas (LNG) market in the coming years.
The Minister's crucial role in promoting Congo's natural gas industry and attracting foreign investment has positioned the country as a highly attractive LNG play. Through collaborations with companies like Eni, the Italian multinational energy company, the country has successfully developed the Marine XII block, a significant milestone in its gas sector. Moreover, the ten-year contract between Eni Congo and Expro Group for an onshore LNG pre-treatment plant will greatly enhance LNG production, specifically for local electricity generation, aligning with Congo's gas monetization agenda and contributing to GDP growth.
Furthermore, the ongoing Litchendjili Gas Project aims to establish Congo as a regional clean energy powerhouse and a global gas hub. The partnership between Eni Congo and Wison Heavy Industry to construct a second floating liquefied natural gas (FLNG) facility signifies a strategic move to optimize Congo's gas operations for both domestic use and export, effectively meeting a large portion of Europe's energy demand. The overarching goal is to ramp up LNG production to three million tons per year by 2025, emphasizing Congo's commitment to expanding its presence in the global LNG market.
Under the leadership of H.E. Itoua, the Ministry of Hydrocarbons has played an instrumental part in harnessing the Congo's hydrocarbon resources, driving innovation, attracting investments, and promoting sustainable energy solutions. Despite global pressure to immediately transition to a renewable future, the Ministry creates an enabling environment for investors and works closely with foreign players to unlock the true potential of the country’s gas market, enabling capital to flow inwards. Balancing growth and stewardship, the Ministry contributes to Africa's energy transformation, seeking a harmonious balance between present needs and a greener future.
“We are proud to have H.E. Itoua, the Minister of Hydrocarbons of the Republic of the Congo, participate at AEW 2023. Congo's commitment to driving progress and innovation in the energy sector is evident, and the Minister’s valuable contributions to Africa's energy transformation are inspiring. With visionary leadership and collaborative efforts, the Congo is shaping a prosperous future for its energy industry while prioritizing sustainable development and regional cooperation. The country’s presence sets a powerful example for other nations to follow,” states NJ Ayuk, Executive Chairman of the AEC.
AEW 2023 is the AECs annual energy event. This year’s edition takes place in Cape Town from October 16-20 under the theme, ‘The African Energy Renaissance: Prioritizing energy poverty, people, the planet, industrialization and free market.’ Register now at www.AECWeek.com
Distributed by APO Group on behalf of African Energy Week (AEW).