S&P Global: Republic of Congo to Double Gas Output by 2027

SEATTLE (Oil Monster): Commodity organization S&P Global Insights stated in its most recent market forecast that it anticipates the Republic of Congo's natural gas production will more than double by 2027. Developments in Marine XII FLNG and Banga Kayo will be the primary drivers of the projected production increase.

Congo has historically produced very little natural gas, according to Lucinda Valerie Ross, Senior Technical Research Analyst at S&P Global Commodity Insights. Eni's effective use of pre-existing FLNG vessels in a stepwise manner to reach first gas last year marked a change. "The country could be able to ensure sustained production increases by attracting more investments to these projects," Ross continued.

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By 2025, the Marine XII project should be producing about 2.4 million metric tons of LNG annually. By 2026, it is anticipated that the annual production would have increased to 4.5 billion cubic meters.

Over a 25-year timeframe, the total production from the Banga Kayo permit is anticipated to approach 30 billion cubic meters of associated gas. There will be four stages to the project's implementation.

According to estimates, more than 70% of Congo's power is generated by natural gas. Additionally, the extraction of natural gas and oil accounts for almost 35% of Congo's GDP.