Stakeholders in the hydrocarbon sector are motivated to support Gabon in the diversification of the sector, in the reduction of flared gas, but above all, in the exploration and development of gas resources, said last Friday the head of the Task-force on the gas strategy, Yann Livulibutt Yangari, at the end of the summit on oil, gas and the energy transition held in Libreville.

Chaired by the Minister in charge of Public Works, in place of his colleague Hydrocarbons prevented, the closing of the summit on oil, gas and energy transition resulted in several recommendations. The one highlighted is the development of the gas resource, the object of this meeting focused on the energy transition.

“The Gas Strategy Task Force has been tasked with, among other things, resource development, the reduction of flare gas, the reduction of butane imports and the implementation of local content,” said the Minister of Public Works, Leon Armel Bounda Balonzi in his speech. This Task Force is part of the Transformation Acceleration Plan (TIP), which aims to revive economic activities that have been severely affected by Covid-19. Hence the idea of the highest authorities to explore new sources of growth such as gas, to improve the resilience of the Gabonese economy.

Apart from the commitment of the actors to support Gabon in the development of the gas resource, the financing aspect of the energy transition, through incentives, was also mentioned. Exchanges are planned with international bodies, institutional banks and local actors concerning the mechanisms to be put in place in oil contracts for the development of the project.

Other recommendations include increasing butane gas storage to 30 thousand m3 by 2030 to reduce costs and deficit, in order to normally supply the hinterland. On this point, indicated Yann Yangari, concrete projects are underway, notably with the oil company Perenco, which will begin to produce 20% of the local production of butane within two years.

“We will continue to push the sector, so that other operators too can implement projects by 2023, so that butane gas self-sufficiency can be achieved by 2025,” he said.

The standardization of the gas sector is no exception. According to the Head of the Gas Strategy Task Force, the aim will be to develop Gabonese standards so that stakeholders can take ownership of the maintenance rules and the type of measuring equipment to be used. Also, the Libreville meeting allowed the actors to look in detail, the mechanisms to be implemented to develop local content. In other words, the appropriation of the oil and gas sector by aboriginal businesses.

To support these local SMEs and SMIs, panelists referred to Nigeria, a country that created a fund to support counterparty risk and guarantees for banks. This is to give the banks confidence so that they can accompany them.

Herman Ulrich NGOULOU