Shell, Equatorial Guinea ministry in MoU

Super-major Shell and Equatorial Guinea’s energy ministry have signed an MoU to further examine opportunities in the country’s oil and gas industry, African media reported on Monday.

Signed between Minister of Mines and Hydrocarbons Gabriel Mbaga Obiang Lima and representatives of Shell Gas & Power Developments, the agreement will see the two parties work to improve co-operation and paves the way for more pacts to be signed in the future, particularly in the domestic gas value chain.

“Gas is the future for Africa’s economies,” said Minister Obiang. “Equatorial Guinea has shown what this fuel can do, and with a partner like Shell, we are confident that our new ventures in the exploration and production of our natural resources will generate a prosperous future for our nation and for our region. We’re excited to continue working with Shell on finding new opportunities in the hydrocarbons sector.”

Shell has been present in Equatorial Guinea since 2016, when the company became an offtaker of LNG produced by EG LNG through its acquisition of BG Group.