Equatorial Guinea: the American Noble Energy decides on the Alen gas project

The US investor will announce its decision during the first half of 2019 on the Alen natural gas production project even if the final decision to invest will depend on the execution of commercial agreements between the two parties.

The fate of the Alen natural gas production and exploitation project in Equatorial Guinea will soon be decided, with the decision of the US multinational to be known over the next three months. This is the quintessence of an announcement made by the company Noble Energy which operates the license located offshore and whose production is scheduled for 2021.

According to reliable information, this project is expected to produce 600 billion cubic feet of natural gas is found in the junction of blocks O and I and produces condensate since 2013. Waiting to learn more about the contours of production , Noble Energy has suggested that Alen’s gas will be processed by existing liquefaction units including Alba and Equatorial Guinea LNG Holdings Limited, located on Bioko Island.

The agreement signed last year between the Equatorial Guinean authorities and Noble Energy provides for the construction of a 65-kilometer gas pipeline to transport natural gas from the Alen platform to the Punta Europa facilities. It will be necessary to review the existing production and processing facilities on the Alen platform and at Punta Europa, where modifications are expected to ensure better production and appropriate treatment of natural gas. Once this phase is complete, the fuel can then be delivered to the international market.

CEMAC zone: merger between COSUMAF and CMF

The Economic and Monetary Community of Central Africa (CEMAC) now has a single regulator for the subregional financial market after the merger of the two entities in accordance with the decision of the Heads of State.

By Achille Mbog Pibasso

Exit, the Financial Markets Commission (CMF) of Cameroon whose merger this March 4, 2019, is definitely the death knell, and gives way to the Central African Financial Market Supervisory Commission (COSUMAF). The act of absorption took effect under the coordination of the Bank of Central African States (BEAC).

Thus, in accordance with the decision of the CEMAC heads of state at their summit, on October 31, 2017 in N’Djamena, Chad, a sul regulatory body oversees the subregional stock market. This merger, which recognizes COSUMAF as the sole regulator, predates the merger of the Central African Securities Exchange (BVMAC) and the Cameroon National Stock Exchange, the Douala Stock Exchange (DSX), which must intervene no later than June 30th. The regulator will be based in Libreville, Gabon, while the operational management of the stock exchange will be based in Douala, Cameroon.

The CEMAC supplementary act on market integration also defined the structuring of the Central African financial market, which thus included three main institutions. The process is already quite advanced, it is said, and we hope for a rather dynamic sub-regional market like the momentum printed last year by the CMF, which takes stock at the end of the year. last, had hoped that “the momentum printed in the financial market of Cameroon since 2016 benefits the new regional regulator. This dynamic should thus extend to all markets of CEMAC states, to make it the reference place it deserves in Africa “.

A feat that had placed the financial market of Cameroon is in the top 20 financial markets in Africa. For the year 2018, bond issues, investments and public offerings had been particularly in demand, making it possible to raise FCFA 256 billion in the capital market excluding treasury issues through the Central Bank.

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